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

Cambridge, MA
$109,786
Pop. 118,403
Boston, MA
$104,527
Pop. 675,647
Lowell, MA
$73,629
Pop. 115,554
Springfield, MA
$69,027
Pop. 155,929

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.

Find Loan Officer Jobs in Worcester

Browse open loan officer positions in Worcester, MA:

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Frequently Asked Questions: Loan Officer Salary in Worcester

How much does a Loan Officer make in Worcester, MA? ▼
The median loan officer salary in Worcester, Massachusetts is $76,916 per year, which is 17.0% above the national median of $65,740. Salaries range from $41,184 (10th percentile) to $179,946 (90th percentile).
How much does a Loan Officer make per hour in Worcester? ▼
Based on the median annual salary of $76,916, a loan officer in Worcester earns approximately $37 per hour assuming a standard 2,080-hour work year.
How does Worcester compare to the Massachusetts state average for loan officer pay? ▼
Worcester's median loan officer salary of $76,916 is 17.6% below the Massachusetts state average of $93,351. The local cost of living index is 110% of the national average.
What is the cost of living in Worcester, MA? ▼
Worcester has a cost of living index of 110% compared to the national average. This means a loan officer salary of $76,916 in Worcester has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Worcester? ▼
Most loan officer positions in Worcester require a bachelor's degree. Key skills include Credit Analysis, Mortgage Lending, Customer Service, Regulatory Compliance. The job market is projected to grow 3% nationally over the next decade.