Loan Officers in Maryland
Get the information you need to know about working as a Loan Officer.
You’re in luck! Jobs for Loan Officers in Maryland are projected to grow and these jobs tend to pay higher than average.
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Projected employment for Loan Officers in Maryland is growing slower than average.
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Loan Officers in Maryland earn higher salaries than the typical U.S. wage earner.
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How Many Loan Officers Work in Maryland?
5,080 people worked as Loan Officers in 2018 in this state.
There were 4,860 Loan Officers employed in this state in 2017.
That’s growth of 220 jobs between 2017 and 2018.
The typical state has 4,250 Loan Officers working in it, which means Maryland has more Loan Officers than average.
Job Projections for Maryland
Jobs for Loan Officers in this state are growing at a rate of 3.6% which is slower than the nationwide estimated projection of 11.4%.
Maryland Annual Job Openings
The BLS is projecting 370 annual Loan Officers job openings in Maryland, and 4,580 total jobs in the year 2026.
Nationwide, the prediction is 30,400 annual jobs and 354,900 total jobs in 2026.
What do Loan Officers Make in Maryland?
In 2018 wages for Loan Officers ranged from $29,220 to $150,990 with $68,060 being the median annual salary.
Broken down to an hourly rate, workers in this field made anywhere from $14.05 to $72.59. The median hourly rate was $32.72.
In 2017 the median pay for this field was $31.65 an hour.
The hourly rate grew by $1.07.
The median salary in Maryland is higher than the nationwide median salary.
Top Maryland Metros for Loan Officers
The table below shows some of the metros in this state with the most Loan Officers.
| Metro | Number Employed | Annual Median Salary |
|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 6,880 | $69,660 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 5,830 | $65,560 |
| Baltimore-Columbia-Towson, MD | 2,580 | $71,470 |
| Salisbury, MD-DE | 160 | $68,140 |
| Cumberland, MD-WV | 50 | n/a |
Top States for Loan Officers Employment
The table below shows the states where most Loan Officers work.
| State | Number Employed | Annual Median Salary |
|---|---|---|
| California | 37,030 | $61,310 |
| Texas | 19,950 | $68,710 |
| Florida | 18,000 | $67,760 |
| North Carolina | 13,910 | $62,360 |
| New York | 12,890 | $78,520 |
| Illinois | 12,330 | $66,570 |
| Ohio | 11,520 | $64,770 |
| Virginia | 10,140 | $63,860 |
| Pennsylvania | 10,010 | $59,340 |
| Arizona | 8,970 | $54,400 |
| Georgia | 7,790 | $54,690 |
| Minnesota | 7,740 | $72,030 |
| Missouri | 7,130 | $68,010 |
| Wisconsin | 7,090 | $62,850 |
| Washington | 6,940 | $60,540 |
| New Jersey | 6,670 | $73,180 |
| Massachusetts | 5,780 | $70,090 |
| Tennessee | 5,440 | $54,490 |
| Kentucky | 5,300 | $60,400 |
| Utah | 5,220 | $45,470 |
Below are the states where Loan Officers get paid the most:
| State | Annual Median Salary |
|---|---|
| New York | $78,520 |
| New Hampshire | $76,430 |
| Nebraska | $75,800 |
| Connecticut | $74,990 |
| District of Columbia | $74,840 |
| New Jersey | $73,180 |
| Minnesota | $72,030 |
| Kansas | $71,550 |
| Massachusetts | $70,090 |
| Texas | $68,710 |
Related Careers in MD
Discover similar careers:
| Occupation | MD Employment Total |
|---|
References
- Bureau of Labor Statistics (BLS)
- College Factual
- National Center for Education Statistics
- O*NET Online
- Image Credit: By Dave Dugdale under License
More about our data sources and methodologies.
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