Loan Officer Salary in New Jersey
The median loan officer salary in New Jersey is $80,860 per year, which is 23.0% above the national median of $65,740.
Loan Officer Salary in New Jersey by Experience
In New Jersey, an entry-level loan officer earns around $46,740, while experienced professionals earn up to $159,900 per year. The cost of living index in New Jersey is 115% of the national average.
Salary Percentiles in New Jersey
| Percentile | NJ Salary |
|---|---|
| 10th Percentile | $43,296 |
| 25th Percentile | $55,842 |
| Median (50th) | $80,860 |
| 75th Percentile | $123,000 |
| 90th Percentile | $189,174 |
Major Cities for Loan Officers in New Jersey
The largest employment areas for loan officers in New Jersey include Newark, Jersey City, Paterson, and Elizabeth. Salaries in major metro areas may be higher due to increased demand and cost of living.
How to Become a Loan Officer in New Jersey
Education
Most loan officer positions require a bachelor's degree. New Jersey has several accredited institutions offering relevant programs.
Key Skills
Job Outlook in New Jersey
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). New Jersey's demand may vary based on local industry trends.