Loan Officer salary in Massachusetts
Loan Officers in Massachusetts earn a median of $101,600 a year ($48.85 an hour), based on BLS data for 4,470 workers.
Pay ranges from $64,680 for the lowest-paid 10% to $198,220 for the top 10%. That is 32% higher than the national median of $76,690. Massachusetts ranks 1st of 51 states for loan officers pay, one of the best-paying states for this job. There are 1.2 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.70). The average (mean) salary is $118,390, above the median because a few high earners pull it up.
Pay range for loan officers in Massachusetts
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $64,680 | $31.10 |
| 25th percentile | $79,760 | $38.35 |
| Median | $101,600 | $48.85 |
| 75th percentile | $136,940 | $65.84 |
| 90th percentile (top earners) | $198,220 | $95.30 |
| Average (mean) | $118,390 | $56.92 |
Half of loan officers earn more than the median and half earn less. Percentiles show the spread: 10% earn less than the 10th percentile, and 10% earn more than the 90th.
Median paycheck, before taxes
| Pay period | Amount |
|---|---|
| Monthly | $8,466.67 |
| Semi-monthly (24 a year) | $4,233.33 |
| Biweekly (26 a year) | $3,907.69 |
| Weekly | $1,953.85 |
| Hourly | $48.85 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Loan Officer salary in cities in Massachusetts
| Metro area | Median salary | Workers |
|---|---|---|
| Boston-Cambridge-Newton, MA-NH | $103,400 | 3,420 |
| Amherst Town-Northampton, MA | $96,540 | 90 |
| Barnstable Town, MA | $96,080 | 110 |
| Pittsfield, MA | $94,920 | 80 |
| Worcester, MA | $94,220 | 320 |
| Springfield, MA | $89,480 | 150 |
| Providence-Warwick, RI-MA | $78,500 | 1,460 |
Highest-paying states for loan officers
| State | Median salary |
|---|---|
| Massachusetts | $101,600 |
| Connecticut | $95,730 |
| New York | $95,710 |
| Minnesota | $95,170 |
| Colorado | $94,520 |
| Oregon | $94,440 |
| New Jersey | $92,920 |
| District of Columbia | $92,890 |
| Vermont | $88,710 |
| Kansas | $86,970 |
Related jobs in Massachusetts
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $99,460 | $47.82 |
| Financial and Investment Analysts | $111,040 | $53.38 |
| Insurance Underwriter | $106,640 | $51.27 |
| Tax Preparer | $58,400 | $28.08 |
| Financial Risk Specialist | $130,400 | $62.69 |
| Credit Analyst | $97,080 | $46.68 |
| Budget Analyst | $92,260 | $44.36 |
| Tax Examiners and Collectors, and Revenue Agents | $75,560 | $36.33 |
| Property Appraisers and Assessors | $91,750 | $44.11 |
| Financial Examiner | $111,110 | $53.42 |
| Credit Counselor | $63,240 | $30.41 |
| Financial Specialists, All Other | $99,970 | $48.06 |
| Personal Financial Advisor | $125,670 | $60.42 |
| Market Research Analysts and Marketing Specialists | $101,810 | $48.95 |
More: Business and Financial Operations Occupations · all salaries in Massachusetts
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 estimates, occupation code 13-2072. Wages include base pay, tips, commissions and shift pay, but not overtime, bonuses or benefits, and exclude the self-employed.
Frequently asked questions
How much does a loan officer make in Massachusetts?
The median salary for loan officers in Massachusetts is $101,600 a year, or $48.85 an hour. Pay ranges from $64,680 for the lowest-paid 10% to $198,220 for the top 10%.
How much do the highest-paid loan officers make in Massachusetts?
The top 10% of loan officers in Massachusetts earn at least $198,220 a year. The top 25% earn $136,940 or more.
What is the starting pay for loan officers in Massachusetts?
Entry-level pay (the 10th percentile) is about $64,680 a year, and a quarter of loan officers earn $79,760 or less.
How many loan officers work in Massachusetts?
About 4,470 loan officers are employed in Massachusetts, not counting the self-employed.