Loan Officer Salary in Paterson, New Jersey
The median loan officer salary in Paterson, NJ is $74,286 per year, which is 13.0% above the national median and 8.1% below the New Jersey state average.
Loan Officer Pay in Paterson: What to Expect (2026)
Paterson offers a median loan officer salary of $74,286, which is $6,574 below the New Jersey state average of $80,860. Compared to the national median of $65,740, Paterson pays above average for this role.
Paterson's cost of living is 105% of the national average, meaning salary figures here closely reflect actual purchasing power. This makes direct comparisons to other cities straightforward.
The salary range for loan officers in Paterson spans from $39,776 at the 10th percentile to $173,794 at the 90th percentile — a $134,018 spread. Entry-level professionals start around $42,940, while senior loan officers with 8+ years of experience can earn up to $146,900. With a population of 159,732, Paterson is a mid-sized metro with a growing job market.
Loan Officer Salary in Paterson by Experience
In Paterson, an entry-level loan officer earns around $42,940, while experienced professionals earn up to $146,900 per year. The local cost of living index is 105% of the national average.
Salary Percentiles in Paterson, NJ
| Percentile | Paterson |
|---|---|
| 10th Percentile | $39,776 |
| 25th Percentile | $51,302 |
| Median (50th) | $74,286 |
| 75th Percentile | $113,000 |
| 90th Percentile | $173,794 |
Loan Officer Salary in Other New Jersey Cities
How to Become a Loan Officer in Paterson
Education
Most loan officer positions require a bachelor's degree. Paterson and the surrounding New Jersey area have institutions offering relevant programs.
Key Skills
Job Outlook
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Demand in Paterson may vary based on local industry and population growth.
Find Loan Officer Jobs in Paterson
Browse open loan officer positions in Paterson, NJ: