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Loan Officers in Massachusetts

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Loan Officers in Massachusetts

Want to work in Massachusetts as a Loan Officer? Read this first!

6.9% Jobs Projection
$70,090 Median Salary
1,460 Job Openings

You’re in luck! Jobs for Loan Officers in Massachusetts are projected to grow and these jobs tend to pay higher than average.

  • Projected employment for Loan Officers in Massachusetts is growing faster than average.

  • Loan Officers in Massachusetts earn higher salaries than the typical U.S. wage earner.

How Many Loan Officers Work in Massachusetts?

In 2018, there were 5,780 Loan Officers working in the state.

There were 5,640 Loan Officers employed in this state in 2017.

That’s growth of 140 jobs between 2017 and 2018.

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The typical state has 4,250 Loan Officers working in it, which means Massachusetts has more Loan Officers than average.

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Job Projections for Massachusetts

Jobs for Loan Officers in this state are growing at a rate of 6.9% which is slower than the nationwide estimated projection of 11.4%.

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Massachusetts Annual Job Openings

The BLS estimates 1,460 annual job openings, and a total of 17,440 jobs for Massachusetts Loan Officers in 2026.

Nationwide, the prediction is 30,400 annual jobs and 354,900 total jobs in 2026.

What do Loan Officers Make in Massachusetts?

In 2018 wages for Loan Officers ranged from $37,330 to $185,400 with $70,090 being the median annual salary.

Broken down to an hourly rate, workers in this field made anywhere from $17.95 to $89.14. The median hourly rate was $33.7.

Workers in this field were paid a median of $34.82 an hour in 2017.

The hourly rate declined by $1.12.

The median salary in Massachusetts is higher than the nationwide median salary.

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Top Massachusetts 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
Boston-Cambridge-Nashua, MA-NH 4,780 $73,460
Providence-Warwick, RI-MA 1,930 $60,670
Worcester, MA-CT 540 $65,130
Springfield, MA-CT 240 $56,370
Pittsfield, MA 80 $54,190
Leominster-Gardner, MA 80 $62,260
New Bedford, MA 50 $66,250

Top States for Loan Officers Employment

View the list below to see 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

You may also be interested in the following careers:

Occupation MA Employment Total

What Major Will Prepare You For a Loan Officer Career?

References

More about our data sources and methodologies.

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