Business & Finance Cambridge, MA
Pop. 118,403
Loan Officer Salary in Cambridge, Massachusetts
The median loan officer salary in Cambridge, MA is $109,786 per year, which is 67.0% above the national median and 17.6% above the Massachusetts state average.
City Median
$109,786
vs State Avg
+$16,435
vs National
+$44,046
Cost of Living
160%
Loan Officer Salary in Cambridge by Experience
In Cambridge, an entry-level loan officer earns around $63,460, while experienced professionals earn up to $217,100 per year. The local cost of living index is 160% of the national average.
Entry Level (0-2 yrs)
$63,460
+$25,460 vs national
Mid Level (3-7 yrs)
$110,220
+$44,220 vs national
Senior Level (8+ yrs)
$217,100
+$87,100 vs national
Salary Percentiles in Cambridge, MA
| Percentile | Cambridge |
|---|---|
| 10th Percentile | $58,784 |
| 25th Percentile | $75,818 |
| Median (50th) | $109,786 |
| 75th Percentile | $167,000 |
| 90th Percentile | $256,846 |
Loan Officer Salary in Other Massachusetts Cities
How to Become a Loan Officer in Cambridge
Education
Most loan officer positions require a bachelor's degree. Cambridge and the surrounding Massachusetts area have institutions offering relevant programs.
Key Skills
Credit AnalysisMortgage LendingCustomer ServiceRegulatory ComplianceSalesFinancial Software
Job Outlook
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Demand in Cambridge may vary based on local industry and population growth.