Loan Officer salary in Springfield, MA
Loan Officers in the Springfield, MA metro area earn a median of $89,480 a year ($43.02 an hour), based on BLS data for 150 workers.
Pay ranges from $58,670 for the lowest-paid 10% to $168,650 for the top 10%. That is 17% higher than the national median of $76,690. Pay here is 12% lower than the Massachusetts statewide median of $101,600. There are 0.76 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.43). The average (mean) salary is $104,070, above the median because a few high earners pull it up.
Pay range for loan officers in Springfield, MA
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $58,670 | $28.21 |
| 25th percentile | $73,040 | $35.12 |
| Median | $89,480 | $43.02 |
| 75th percentile | $125,530 | $60.35 |
| 90th percentile (top earners) | $168,650 | $81.08 |
| Average (mean) | $104,070 | $50.03 |
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 | $7,456.67 |
| Semi-monthly (24 a year) | $3,728.33 |
| Biweekly (26 a year) | $3,441.54 |
| Weekly | $1,720.77 |
| Hourly | $43.02 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Loan Officer salary in other metro areas nearby
| 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 |
| 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 |
See Loan Officer pay in every state or the Massachusetts statewide figures.
Related jobs in Springfield, MA
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $92,010 | $44.24 |
| Financial and Investment Analysts | $103,200 | $49.61 |
| Personal Financial Advisor | $127,870 | $61.48 |
| Insurance Underwriter | $115,420 | $55.49 |
| Financial Specialists, All Other | $76,270 | $36.67 |
| Budget Analyst | $81,360 | $39.11 |
| Property Appraisers and Assessors | $64,090 | $30.81 |
| Credit Analyst | $74,470 | $35.80 |
| Credit Counselor | $51,140 | $24.59 |
| Tax Examiners and Collectors, and Revenue Agents | $107,690 | $51.77 |
| Market Research Analysts and Marketing Specialists | $85,970 | $41.33 |
| Human Resources Specialist | $77,740 | $37.37 |
| Buyers and Purchasing Agents | $79,040 | $38.00 |
| Training and Development Specialists | $70,030 | $33.67 |
More: Business and Financial Operations Occupations · all salaries in Springfield, MA
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 Springfield, MA?
The median salary for loan officers in the Springfield, MA metro area is $89,480 a year, or $43.02 an hour. Pay ranges from $58,670 for the lowest-paid 10% to $168,650 for the top 10%.
How much do the highest-paid loan officers make in Springfield, MA?
The top 10% of loan officers in the Springfield, MA metro area earn at least $168,650 a year. The top 25% earn $125,530 or more.
What is the starting pay for loan officers in Springfield, MA?
Entry-level pay (the 10th percentile) is about $58,670 a year, and a quarter of loan officers earn $73,040 or less.
How many loan officers work in Springfield, MA?
About 150 loan officers are employed in the Springfield, MA metro area, not counting the self-employed.