Loan Officer salary in New York
Loan Officers in New York earn a median of $95,710 a year ($46.01 an hour), based on BLS data for 10,840 workers.
Pay ranges from $49,410 for the lowest-paid 10% to $211,350 for the top 10%. That is 25% higher than the national median of $76,690. New York ranks 3rd of 51 states for loan officers pay, one of the best-paying states for this job. There are 1.1 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.63). The average (mean) salary is $114,670, above the median because a few high earners pull it up.
Pay range for loan officers in New York
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $49,410 | $23.76 |
| 25th percentile | $62,670 | $30.13 |
| Median | $95,710 | $46.01 |
| 75th percentile | $148,890 | $71.58 |
| 90th percentile (top earners) | $211,350 | $101.61 |
| Average (mean) | $114,670 | $55.13 |
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 | $7,975.83 |
| Semi-monthly (24 a year) | $3,987.92 |
| Biweekly (26 a year) | $3,681.15 |
| Weekly | $1,840.58 |
| Hourly | $46.01 |
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 New York
| Metro area | Median salary | Workers |
|---|---|---|
| New York-Newark-Jersey City, NY-NJ | $101,570 | 10,350 |
| Elmira, NY | $95,050 | 40 |
| Glens Falls, NY | $83,810 | 40 |
| Rochester, NY | $82,280 | 470 |
| Watertown-Fort Drum, NY | $81,850 | 60 |
| Albany-Schenectady-Troy, NY | $79,710 | 560 |
| Kiryas Joel-Poughkeepsie-Newburgh, NY | $79,670 | 260 |
| Syracuse, NY | $78,580 | 300 |
| Buffalo-Cheektowaga, NY | $76,170 | 900 |
| Ithaca, NY | $75,060 | 60 |
| Binghamton, NY | $68,680 | 80 |
| Kingston, NY | $65,870 | 80 |
| Utica-Rome, NY | $61,910 | 170 |
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 New York
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $102,640 | $49.35 |
| Financial and Investment Analysts | $127,930 | $61.51 |
| Personal Financial Advisor | $166,400 | $80.00 |
| Financial Examiner | $128,920 | $61.98 |
| Financial Risk Specialist | $136,830 | $65.78 |
| Financial Specialists, All Other | $107,490 | $51.68 |
| Credit Analyst | $133,270 | $64.07 |
| Tax Preparer | $71,850 | $34.54 |
| Insurance Underwriter | $97,450 | $46.85 |
| Tax Examiners and Collectors, and Revenue Agents | $72,610 | $34.91 |
| Property Appraisers and Assessors | $78,060 | $37.53 |
| Budget Analyst | $88,540 | $42.57 |
| Credit Counselor | $63,030 | $30.30 |
| Market Research Analysts and Marketing Specialists | $98,580 | $47.39 |
More: Business and Financial Operations Occupations · all salaries in New York
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 New York?
The median salary for loan officers in New York is $95,710 a year, or $46.01 an hour. Pay ranges from $49,410 for the lowest-paid 10% to $211,350 for the top 10%.
How much do the highest-paid loan officers make in New York?
The top 10% of loan officers in New York earn at least $211,350 a year. The top 25% earn $148,890 or more.
What is the starting pay for loan officers in New York?
Entry-level pay (the 10th percentile) is about $49,410 a year, and a quarter of loan officers earn $62,670 or less.
How many loan officers work in New York?
About 10,840 loan officers are employed in New York, not counting the self-employed.