Occupational Employment Statistics

Occupational Employment and Wages, May 2003

13-2072 Loan Officers

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Include mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.

National estimates for this occupation
Industry profile for this occupation
State profile for this occupation
Metropolitan area profile for this occupation

National estimates for this occupation: Top

Employment estimate and mean wage estimates for this occupation:

Employment (1) Employment
RSE (3)
Mean hourly
wage
Mean annual
wage (2)
Wage RSE (3)
237,150 1.4 % $26.73 $55,590 0.7 %

Percentile wage estimates for this occupation:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $12.89 $16.34 $22.43 $31.85 $45.15
Annual Wage (2) $26,800 $33,990 $46,640 $66,240 $93,920

Industry profile for this occupation: Top

Industries with the highest levels of employment in this occupation:

Industry Employment Hourly mean wage Annual mean wage Employment rank Wage rank
Depository credit intermediation 99,910 $24.16 $50,260 1 17
Nondepository credit intermediation 77,770 $28.30 $58,870 2 10
Activities related to credit intermediation 31,930 $29.69 $61,770 3 7
Management of companies and enterprises 8,340 $27.67 $57,560 4 13
Federal government (OES designation) 4,690 $27.88 $57,980 5 12

Top paying industries for this occupation:

Industry Employment Hourly mean wage Annual mean wage Employment rank Wage rank
Securities and commodity contracts brokerage 1,340 $37.68 $78,370 7 1
Automobile dealers 1,070 $35.10 $73,000 9 2
Residential building construction (6) $34.66 $72,100 (6) 3
Other motor vehicle dealers 30 $31.77 $66,080 28 4
Land subdivision 140 $30.71 $63,880 19 5

State profile for this occupation: Top

States with the highest concentration of workers in this occupation:

State Employment Hourly mean wage Annual mean wage Percent of State employment Wage rank within State
Colorado 7,010 $32.21 $66,990 0.332% 71
Montana 1,250 $19.91 $41,410 0.316% 155
South Dakota 1,110 $19.38 $40,310 0.313% 121
Rhode Island 1,410 $41.19 $85,680 0.297% 22
Kansas 3,810 $22.18 $46,130 0.294% 147

Top paying States for this occupation:

State Employment Hourly mean wage Annual mean wage Percent of State employment Wage rank within State
Rhode Island 1,410 $41.19 $85,680 0.297% 22
Massachusetts 4,370 $35.92 $74,710 0.138% 66
Connecticut 2,370 $34.66 $72,100 0.144% 78
Arizona 5,650 $34.58 $71,930 0.250% 38
District of Columbia 480 $33.68 $70,060 0.081% 77

Metropolitan area profile for this occupation: Top

Metropolitan areas with the highest concentration of workers in this occupation:

MSA Employment Hourly mean wage Annual mean wage Percent of MSA employment
Manchester, NH PMSA 540 $36.46 $75,840 0.510%
Florence, SC MSA 320 $22.32 $46,420 0.510%
Great Falls, MT MSA 150 $17.92 $37,270 0.474%
Charlotte-Gastonia-Rock Hill, NC-SC MSA 3,130 $32.48 $67,550 0.390%
Boulder-Longmont, CO PMSA 580 $28.25 $58,760 0.374%

Top paying Metropolitan areas for this occupation:

MSA Employment Hourly mean wage Annual mean wage Percent of MSA employment
Stamford-Norwalk, CT PMSA 430 $44.69 $92,960 0.215%
Fort Collins-Loveland, CO MSA 200 $43.13 $89,720 0.168%
New York, NY PMSA 3,420 $40.54 $84,310 0.086%
San Francisco, CA PMSA 1,670 $39.83 $82,860 0.171%
Boston, MA-NH PMSA 2,700 $39.02 $81,150 0.141%

About May 2003 National, State, and Metropolitan Area Occupational Employment and Wage Estimates

To see profiles of other occupations, select from the major groups below:

These estimates are calculated with data collected from employers in all industry sectors in metropolitan and non-metropolitan areas in every State and the District of Columbia. The top five employment and wage figures are provided above. The complete list is available in the downloadable Excel files(XLS).

Percentile wage estimates show the percentage of workers in an occupation that earn less than a given wage and the percentage that earn more. The median wage is the 50th percentile wage estimate—50 percent of workers earn less than the median and 50 percent of workers earn more than the median. More about percentile wages.


(1) Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. Estimates do not include self-employed workers.

(2) Annual wages have been calculated by multiplying the hourly mean wage by a "year-round, full-time" hours figure of 2,080 hours; for those occupations where there is not an hourly mean wage published, the annual wage has been directly calculated from the reported survey data.

(3) The relative standard error (RSE) is a measure of the reliability of a survey statistic. The smaller the relative standard error, the more precise the estimate.

(6) Estimates not released.

All Business and Financial Operations Occupations

2003 May National Occupational Employment and Wage Estimates

2003 May State Occupational Employment and Wage Estimates

2003 May Metropolitan Area Occupational Employment and Wage Estimates

2003 May National Industry-Specific Occupational Employment and Wage Estimates

List of Occupations in SOC Code Number Order

List of Occupations in Alphabetical Order

Download May 2003 Occupational Employment and Wage Estimates in Zipped Excel files

Technical notes

Last Modified Date: May 7, 2004

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