Business & Finance Buffalo, NY Pop. 278,349

Loan Officer Salary in Buffalo, New York

The median loan officer salary in Buffalo, NY is $68,370 per year, which is 4.0% above the national median and 22.4% below the New York state average.

City Median
$68,370
vs State Avg
$-19,722
vs National
+$2,630
Cost of Living
92%

Loan Officer Salary in Buffalo by Experience

In Buffalo, an entry-level loan officer earns around $39,520, while experienced professionals earn up to $135,200 per year. The local cost of living index is 92% of the national average.

Entry Level (0-2 yrs)
$39,520
+$1,520 vs national
Mid Level (3-7 yrs)
$68,640
+$2,640 vs national
Senior Level (8+ yrs)
$135,200
+$5,200 vs national

Salary Percentiles in Buffalo, NY

Percentile Buffalo
10th Percentile $36,608
25th Percentile $47,216
Median (50th) $68,370
75th Percentile $104,000
90th Percentile $159,952

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
Albany, NY
$72,314
Pop. 99,224
Rochester, NY
$67,055
Pop. 211,328

How to Become a Loan Officer in Buffalo

Education

Most loan officer positions require a bachelor's degree. Buffalo 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 Buffalo may vary based on local industry and population growth.

Find Loan Officer Jobs in Buffalo

Browse open loan officer positions in Buffalo, NY:

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Frequently Asked Questions: Loan Officer Salary in Buffalo

How much does a Loan Officer make in Buffalo, NY? ▼
The median loan officer salary in Buffalo, New York is $68,370 per year, which is 4.0% above the national median of $65,740. Salaries range from $36,608 (10th percentile) to $159,952 (90th percentile).
How much does a Loan Officer make per hour in Buffalo? ▼
Based on the median annual salary of $68,370, a loan officer in Buffalo earns approximately $33 per hour assuming a standard 2,080-hour work year.
How does Buffalo compare to the New York state average for loan officer pay? ▼
Buffalo's median loan officer salary of $68,370 is 22.4% below the New York state average of $88,092. The local cost of living index is 92% of the national average.
What is the cost of living in Buffalo, NY? ▼
Buffalo has a cost of living index of 92% compared to the national average. This means a loan officer salary of $68,370 in Buffalo has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Buffalo? ▼
Most loan officer positions in Buffalo 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.