Business & Finance Philadelphia, PA Pop. 1,603,797

Loan Officer Salary in Philadelphia, Pennsylvania

The median loan officer salary in Philadelphia, PA is $69,684 per year, which is 6.0% above the national median and 6.0% above the Pennsylvania state average.

City Median
$69,684
vs State Avg
+$3,944
vs National
+$3,944
Cost of Living
102%

Loan Officer Salary in Philadelphia by Experience

In Philadelphia, an entry-level loan officer earns around $40,280, while experienced professionals earn up to $137,800 per year. The local cost of living index is 102% of the national average.

Entry Level (0-2 yrs)
$40,280
+$2,280 vs national
Mid Level (3-7 yrs)
$69,960
+$3,960 vs national
Senior Level (8+ yrs)
$137,800
+$7,800 vs national

Salary Percentiles in Philadelphia, PA

Percentile Philadelphia
10th Percentile $37,312
25th Percentile $48,124
Median (50th) $69,684
75th Percentile $106,000
90th Percentile $163,028

Loan Officer Salary in Other Pennsylvania Cities

Allentown, PA
$64,425
Pop. 126,092
Pittsburgh, PA
$63,768
Pop. 302,971
Reading, PA
$60,481
Pop. 95,112
Erie, PA
$57,851
Pop. 94,831

How to Become a Loan Officer in Philadelphia

Education

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

Find Loan Officer Jobs in Philadelphia

Browse open loan officer positions in Philadelphia, PA:

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Frequently Asked Questions: Loan Officer Salary in Philadelphia

How much does a Loan Officer make in Philadelphia, PA? ▼
The median loan officer salary in Philadelphia, Pennsylvania is $69,684 per year, which is 6.0% above the national median of $65,740. Salaries range from $37,312 (10th percentile) to $163,028 (90th percentile).
How much does a Loan Officer make per hour in Philadelphia? ▼
Based on the median annual salary of $69,684, a loan officer in Philadelphia earns approximately $34 per hour assuming a standard 2,080-hour work year.
How does Philadelphia compare to the Pennsylvania state average for loan officer pay? ▼
Philadelphia's median loan officer salary of $69,684 is 6.0% above the Pennsylvania state average of $65,740. The local cost of living index is 102% of the national average.
What is the cost of living in Philadelphia, PA? ▼
Philadelphia has a cost of living index of 102% compared to the national average. This means a loan officer salary of $69,684 in Philadelphia has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Philadelphia? ▼
Most loan officer positions in Philadelphia 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.