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

Jersey City, NJ
$89,406
Pop. 292,449
Edison, NJ
$80,860
Pop. 107,588
Newark, NJ
$78,888
Pop. 311,549
Paterson, NJ
$74,286
Pop. 159,732

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.

Find Loan Officer Jobs in Elizabeth

Browse open loan officer positions in Elizabeth, NJ:

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Frequently Asked Questions: Loan Officer Salary in Elizabeth

How much does a Loan Officer make in Elizabeth, NJ? ▼
The median loan officer salary in Elizabeth, New Jersey is $76,258 per year, which is 16.0% above the national median of $65,740. Salaries range from $40,832 (10th percentile) to $178,408 (90th percentile).
How much does a Loan Officer make per hour in Elizabeth? ▼
Based on the median annual salary of $76,258, a loan officer in Elizabeth earns approximately $37 per hour assuming a standard 2,080-hour work year.
How does Elizabeth compare to the New Jersey state average for loan officer pay? ▼
Elizabeth's median loan officer salary of $76,258 is 5.7% below the New Jersey state average of $80,860. The local cost of living index is 108% of the national average.
What is the cost of living in Elizabeth, NJ? ▼
Elizabeth has a cost of living index of 108% compared to the national average. This means a loan officer salary of $76,258 in Elizabeth has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Elizabeth? ▼
Most loan officer positions in Elizabeth 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.