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Loan Officer

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AVG. SALARY

$81,110

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EDUCATION

Bachelor's degree

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JOB OUTLOOK

Stable

Money & Outlook

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Oklahoma Earnings

Average Annual Wage

$81,110

Entry Annual Wage

$36,390

Experienced Annual Wage

$143,080

Average Hourly Wage

$39.00

Entry Hourly Wage

$17.50

Experienced Hourly Wage

$68.79

Median Hourly Wage

$33.22

Oklahoma Regional Earnings

Oklahoma Metropolitan Areas Wages

Region Average Entry Level Experienced
Enid MSA $76,610 or $36.83/hr $33,750 or $16.23/hr $126,400 or $60.77/hr
Fort Smith AR-OK MSA $78,710 or $37.84/hr $35,360 or $17.00/hr $134,530 or $64.68/hr
Lawton MSA $70,610 or $33.95/hr $34,490 or $16.58/hr $130,390 or $62.69/hr
Oklahoma City MSA $79,370 or $38.16/hr $37,390 or $17.98/hr $142,160 or $68.35/hr
Tulsa MSA $87,760 or $42.19/hr $37,350 or $17.96/hr $166,970 or $80.28/hr

Oklahoma Geographical Areas Wages

Region Average Entry Level Experienced
Northeast Oklahoma nonmetropolitan area $76,270 or $36.67/hr $34,450 or $16.56/hr $128,780 or $61.91/hr
Northwest Oklahoma nonmetropolitan area $75,390 or $36.25/hr $38,680 or $18.59/hr $128,630 or $61.84/hr
Southwest Oklahoma nonmetropolitan area $78,670 or $37.82/hr $35,860 or $17.24/hr $161,870 or $77.82/hr
Southeast Oklahoma nonmetropolitan area $86,100 or $41.39/hr $33,400 or $16.06/hr $133,870 or $64.36/hr

Oklahoma's Employment and Outlook (State-wide)

Outlook Stable
Growth rate is estimated to be 6%
Job Openings 404 estimated annual job openings
Employment 5,374 were employed in this occupation

Oklahoma's Regional Employment and Outlook

Regions with stable outlook (0 to 20% growth rate expected)

Region Employment Projected Growth Rate Annual Openings (growth) Annual Openings (replacement) Annual Openings
Northeast 350 17% 5 N/A 34
Northwest 390 3% 1 N/A 31
Southeast 550 9% 4 N/A 48
Southwest 230 13% 3 N/A 21
Tulsa MSA 960 4% 5 N/A 79
Lawton MSA 80 12% 1 N/A 8
Oklahoma City MSA 1,470 6% 9 N/A 124
Enid 60 0% N/A 5

National Earnings

Average Annual Wage

$84,490

Average Hourly Wage

$40.62

Average Annual Range

$37,020 to $139,470

Note: variations in salaries reflect differences in size of firm, location, level of education and professional credentials.

Where do these numbers come from?


National Employment and Outlook

Outlook stable
  The employment change from 2022 to 2032 is estimated to be +3%.
(The National average for all occupations is +3%)
Job Openings very small number
  A total of 2530 average annual openings are expected for this occupation between 2022 and 2032.
(The National Average for all occupations is 1,670 openings)
Employment medium occupation
  This was a medium sized occupation in the United States, employing 354,800 workers in 2022.
(The National average for all occupations is 147,916 workers)
Growth Average growth
  Increased demand for loan officers is expected as both businesses and individuals seek credit to finance commercial investments and personal spending. Loan officers will be needed to evaluate the creditworthiness of applicants and determine the likelihood that loans will be paid back in full and on time. However, the decline of bank branches and the increased use of productivity-enhancing technology in loan processing are expected to slow employment growth. 
Industries Large concentrations of this occupation are found in these industries
  • Finance and insurance (NAICS520000) (85.3%)
  • Credit intermediation and related activities (NAICS522000) (81.7%)
  • Nondepository credit intermediation (NAICS522200) (31.4%)
  • Other Nondepository Credit Intermediation (NAICS522290) (28.6%)
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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.