Business & Finance Elizabeth, NJ
Pop. 137,298
Loan Officer Salary in Elizabeth, New Jersey
The median loan officer salary in Elizabeth, NJ is $76,258 per year, which is 16.0% above the national median and 5.7% below the New Jersey state average.
City Median
$76,258
vs State Avg
$-4,602
vs National
+$10,518
Cost of Living
108%
Loan Officer Salary in Elizabeth by Experience
In Elizabeth, an entry-level loan officer earns around $44,080, while experienced professionals earn up to $150,800 per year. The local cost of living index is 108% of the national average.
Entry Level (0-2 yrs)
$44,080
+$6,080 vs national
Mid Level (3-7 yrs)
$76,560
+$10,560 vs national
Senior Level (8+ yrs)
$150,800
+$20,800 vs national
Salary Percentiles in Elizabeth, NJ
| Percentile | Elizabeth |
|---|---|
| 10th Percentile | $40,832 |
| 25th Percentile | $52,664 |
| Median (50th) | $76,258 |
| 75th Percentile | $116,000 |
| 90th Percentile | $178,408 |
Loan Officer Salary in Other New Jersey Cities
How to Become a Loan Officer in Elizabeth
Education
Most loan officer positions require a bachelor's degree. Elizabeth and the surrounding New Jersey 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 Elizabeth may vary based on local industry and population growth.