The annual salary statistics of loan officers in Nashville-Davidson--Murfreesboro--Franklin, Tennessee is shown in Table 1. The wage data of loan officers in Nashville-Davidson--Murfreesboro--Franklin is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $38,910 |
| 25th Percentile Wage | $48,580 |
| 50th Percentile Wage | $64,850 |
| 75th Percentile Wage | $97,990 |
| 90th Percentile Wage | $169,900 |
Table 1 shows the average annual salary for loan officers in Nashville-Davidson--Murfreesboro--Franklin, Tennessee in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $169,900. The median (50th percentile) annual salary is $64,850. The average annual salary for the bottom 10 percent earners is $38,910.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $64,850 | 4.12% | 23.44% |
| 2021 | $62,180 | 19.54% | - |
| 2020 | $50,030 | -8.49% | - |
| 2019 | $54,280 | -7.17% | - |
| 2018 | $58,170 | -25.25% | - |
| 2017 | $72,860 | 10.53% | - |
| 2016 | $65,190 | -4.72% | - |
| 2015 | $68,270 | 7.16% | - |
| 2014 | $63,380 | 4.37% | - |
| 2013 | $60,610 | 18.08% | - |
| 2012 | $49,650 | - | - |
From Table 3 we note that the median annual salary of $64,850 in Nashville-Davidson--Murfreesboro--Franklin is in the middle of salary range for loan officers in state of Tennessee. In comparison, the annual salary of loan officers in Nashville-Davidson--Murfreesboro--Franklin is 2.0 percent (2.0%) lower than that in the highest paying North Central Tennessee nonmetropolitan area and 10.6 percent (10.6%) higher than that in the lowest paying Morristown.
| Cities/Areas | Median Annual Salary |
|---|---|
| North Central Tennessee nonmetropolitan area | |
| Knoxville | |
| Nashville-Davidson--Murfreesboro--Franklin | |
| Johnson City | |
| Memphis | |
| Jackson | |
| Cleveland | |
| Western Tennessee nonmetropolitan area | |
| Chattanooga | |
| Eastern Tennessee nonmetropolitan area | |
| South Central Tennessee nonmetropolitan area | |
| Clarksville | |
| Morristown |