Loan Officer Salary in Massachusetts
Based on 4K+ workers in Massachusetts
Median Annual Salary (MA)
$101,600
$48.85/hr
vs National Average
$76,354
+33.1% vs national median
Salary Range (10th–90th)
$65K – $198K
4K employed in Massachusetts
Loan Officer salary in Massachusetts averages $101,600 annually, positioning the state well above typical compensation levels. With approximately 4,470 loan officers employed across Massachusetts, this figure represents a 33% premium compared to the national average, reflecting the state's robust financial services sector and higher cost of living.
Several factors influence loan officer compensation in Massachusetts, including experience level, employer size, and specialization within lending markets. Geographic location within the state, educational credentials, and professional certifications also play significant roles. Additionally, commission structures tied to loan volume and interest rate environments can substantially impact total earnings for professionals in this field.
Salary Distribution — Loan Officer in Massachusetts
| Percentile | Annual Salary |
|---|---|
| 10th percentile | $64,680 |
| 25th percentile | $79,760 |
| Median (50th percentile) | $101,600 |
| 75th percentile | $136,940 |
| 90th percentile | $198,220 |
Top-Paying Industries for Loan Officer (U.S.)
Which industries pay Loan Officers the most — nationwide figures (industry-level data is not available by state). Loan Officers in Massachusetts tend to follow these industry patterns.
| Industry (U.S.) | Median Salary | Employed (U.S.) |
|---|---|---|
| Retail Trade | $103,260 | 12K |
| Real Estate and Rental and Leasing | $84,090 | 3K |
| Government (excl. schools, hospitals & USPS) | $81,330 | 6K |
| Management of Companies and Enterprises | $79,570 | 12K |
| Other Services (except Public Administration) | $77,140 | 560 |
Source: U.S. BLS OEWS National Industry-Specific estimates, May 2025. National figures (not state-specific).
Historical Salary Trend — Loan Officer in Massachusetts vs National
| Year | Median Salary (Massachusetts) |
|---|---|
| 2022 | $80,400 |
| 2023 | $96,940 |
| 2024 | $93,430 |
| 2025 | $101,600 |
| 2026 (projected) | $107,696 |
The latest year is a projection based on recent wage trends — BLS has not yet released that year’s data.
| Year | Massachusetts Median | National Median |
|---|---|---|
| 2022 | $80,400 | $68,453 |
| 2023 | $96,940 | $70,692 |
| 2024 | $93,430 | $73,485 |
| 2025 | $101,600 | $76,354 |
| 2026 (projected) | $107,696 | $80,935 |
Loan Officer Salary by Experience Level in Massachusetts
| Experience Level | Years | Median Annual Salary |
|---|---|---|
| Junior | 0-2 yrs | $79,760 |
| Mid-level | 3-5 yrs | $101,600 |
| Senior | 6-9 yrs | $136,940 |
| Staff / Lead | 10+ yrs | $198,220 |
Loan Officer Salary in Other States
Related Loan Officer Salaries in Massachusetts
How other high-demand occupations in Massachusetts compare to Loan Officer ($101,600 median).
| Occupation | Median Salary | vs Loan Officer | Hourly |
|---|---|---|---|
| Financial Manager in MA | $206,760 | +103.5% | $99.40/hr |
| Actuary in MA | $126,040 | +24.1% | $60.60/hr |
| Personal Financial Advisor in MA | $125,670 | +23.7% | $60.42/hr |
| Financial Examiner in MA | $111,110 | +9.4% | $53.42/hr |
| Financial Analyst in MA | $111,040 | +9.3% | $53.38/hr |
| Economist in MA | $106,380 | +4.7% | $51.14/hr |
| Compliance Officer in MA | $102,060 | +0.5% | $49.07/hr |
| Securities Sales Agent in MA | $100,310 | -1.3% | $48.23/hr |
| Tax Examiner in MA | $99,970 | -1.6% | $48.06/hr |
| Accountant in MA | $99,460 | -2.1% | $47.82/hr |
| Credit Analyst in MA | $97,080 | -4.4% | $46.67/hr |
| Budget Analyst in MA | $92,260 | -9.2% | $44.36/hr |
Frequently Asked Questions
How much do loan officers make in Massachusetts?
- The median salary for loan officers in Massachusetts is $101,600 per year, or approximately $49 per hour. This is 33.1% higher than the national average for this position.
What is the salary range for loan officers in Massachusetts?
- Loan officer salaries in Massachusetts range from $64,680 at the lower end to $198,220 at the upper end, reflecting significant variation based on experience and performance.
Is a loan officer career well-paid in Massachusetts compared to the US?
- Yes, loan officers in Massachusetts earn 33.1% more than the national average, with a median salary of $101,600 compared to lower national figures, making it one of the better-paying states for this profession.
How many loan officers are employed in Massachusetts?
- There are approximately 4,470 loan officers currently employed in Massachusetts, indicating a substantial job market for this profession in the state.