Business & Finance Worcester, MA
Pop. 206,518
Loan Officer Salary in Worcester, Massachusetts
The median loan officer salary in Worcester, MA is $76,916 per year, which is 17.0% above the national median and 17.6% below the Massachusetts state average.
City Median
$76,916
vs State Avg
$-16,435
vs National
+$11,176
Cost of Living
110%
Loan Officer Salary in Worcester by Experience
In Worcester, an entry-level loan officer earns around $44,460, while experienced professionals earn up to $152,100 per year. The local cost of living index is 110% of the national average.
Entry Level (0-2 yrs)
$44,460
+$6,460 vs national
Mid Level (3-7 yrs)
$77,220
+$11,220 vs national
Senior Level (8+ yrs)
$152,100
+$22,100 vs national
Salary Percentiles in Worcester, MA
| Percentile | Worcester |
|---|---|
| 10th Percentile | $41,184 |
| 25th Percentile | $53,118 |
| Median (50th) | $76,916 |
| 75th Percentile | $117,000 |
| 90th Percentile | $179,946 |
Loan Officer Salary in Other Massachusetts Cities
How to Become a Loan Officer in Worcester
Education
Most loan officer positions require a bachelor's degree. Worcester 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 Worcester may vary based on local industry and population growth.