Business & Finance Cranston, RI Pop. 82,934

Loan Officer Salary in Cranston, Rhode Island

The median loan officer salary in Cranston, RI is $67,055 per year, which is 2.0% above the national median and 4.7% below the Rhode Island state average.

City Median
$67,055
vs State Avg
$-3,287
vs National
+$1,315
Cost of Living
100%

Loan Officer Salary in Cranston by Experience

In Cranston, an entry-level loan officer earns around $38,760, while experienced professionals earn up to $132,600 per year. The local cost of living index is 100% of the national average.

Entry Level (0-2 yrs)
$38,760
+$760 vs national
Mid Level (3-7 yrs)
$67,320
+$1,320 vs national
Senior Level (8+ yrs)
$132,600
+$2,600 vs national

Salary Percentiles in Cranston, RI

Percentile Cranston
10th Percentile $35,904
25th Percentile $46,308
Median (50th) $67,055
75th Percentile $102,000
90th Percentile $156,876

Loan Officer Salary in Other Rhode Island Cities

Providence, RI
$72,314
Pop. 190,934
Warwick, RI
$68,370
Pop. 82,823
East Providence, RI
$65,740
Pop. 47,139
Pawtucket, RI
$64,425
Pop. 75,604

How to Become a Loan Officer in Cranston

Education

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

Find Loan Officer Jobs in Cranston

Browse open loan officer positions in Cranston, RI:

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Frequently Asked Questions: Loan Officer Salary in Cranston

How much does a Loan Officer make in Cranston, RI? ▼
The median loan officer salary in Cranston, Rhode Island is $67,055 per year, which is 2.0% above the national median of $65,740. Salaries range from $35,904 (10th percentile) to $156,876 (90th percentile).
How much does a Loan Officer make per hour in Cranston? ▼
Based on the median annual salary of $67,055, a loan officer in Cranston earns approximately $32 per hour assuming a standard 2,080-hour work year.
How does Cranston compare to the Rhode Island state average for loan officer pay? ▼
Cranston's median loan officer salary of $67,055 is 4.7% below the Rhode Island state average of $70,342. The local cost of living index is 100% of the national average.
What is the cost of living in Cranston, RI? ▼
Cranston has a cost of living index of 100% compared to the national average. This means a loan officer salary of $67,055 in Cranston has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Cranston? ▼
Most loan officer positions in Cranston 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.