Business & Finance Albany, NY Pop. 99,224

Loan Officer Salary in Albany, New York

The median loan officer salary in Albany, NY is $72,314 per year, which is 10.0% above the national median and 17.9% below the New York state average.

City Median
$72,314
vs State Avg
$-15,778
vs National
+$6,574
Cost of Living
98%

Loan Officer Salary in Albany by Experience

In Albany, an entry-level loan officer earns around $41,800, while experienced professionals earn up to $143,000 per year. The local cost of living index is 98% of the national average.

Entry Level (0-2 yrs)
$41,800
+$3,800 vs national
Mid Level (3-7 yrs)
$72,600
+$6,600 vs national
Senior Level (8+ yrs)
$143,000
+$13,000 vs national

Salary Percentiles in Albany, NY

Percentile Albany
10th Percentile $38,720
25th Percentile $49,940
Median (50th) $72,314
75th Percentile $110,000
90th Percentile $169,180

Loan Officer Salary in Other New York Cities

New York City, NY
$130,823
Pop. 8,336,817
Yonkers, NY
$96,638
Pop. 211,569
Buffalo, NY
$68,370
Pop. 278,349
Rochester, NY
$67,055
Pop. 211,328

How to Become a Loan Officer in Albany

Education

Most loan officer positions require a bachelor's degree. Albany and the surrounding New York 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 Albany may vary based on local industry and population growth.

Find Loan Officer Jobs in Albany

Browse open loan officer positions in Albany, NY:

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Frequently Asked Questions: Loan Officer Salary in Albany

How much does a Loan Officer make in Albany, NY? ▼
The median loan officer salary in Albany, New York is $72,314 per year, which is 10.0% above the national median of $65,740. Salaries range from $38,720 (10th percentile) to $169,180 (90th percentile).
How much does a Loan Officer make per hour in Albany? ▼
Based on the median annual salary of $72,314, a loan officer in Albany earns approximately $35 per hour assuming a standard 2,080-hour work year.
How does Albany compare to the New York state average for loan officer pay? ▼
Albany's median loan officer salary of $72,314 is 17.9% below the New York state average of $88,092. The local cost of living index is 98% of the national average.
What is the cost of living in Albany, NY? ▼
Albany has a cost of living index of 98% compared to the national average. This means a loan officer salary of $72,314 in Albany has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Albany? ▼
Most loan officer positions in Albany 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.