Business & Finance Providence, RI Pop. 190,934

Loan Officer Salary in Providence, Rhode Island

The median loan officer salary in Providence, RI is $72,314 per year, which is 10.0% above the national median and 2.8% above the Rhode Island state average.

City Median
$72,314
vs State Avg
+$1,972
vs National
+$6,574
Cost of Living
108%

Loan Officer Salary in Providence by Experience

In Providence, 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 108% 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 Providence, RI

Percentile Providence
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 Rhode Island Cities

Warwick, RI
$68,370
Pop. 82,823
Cranston, RI
$67,055
Pop. 82,934
East Providence, RI
$65,740
Pop. 47,139
Pawtucket, RI
$64,425
Pop. 75,604

How to Become a Loan Officer in Providence

Education

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

Find Loan Officer Jobs in Providence

Browse open loan officer positions in Providence, RI:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Loan Officer Salary in Providence

How much does a Loan Officer make in Providence, RI? ▼
The median loan officer salary in Providence, Rhode Island 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 Providence? ▼
Based on the median annual salary of $72,314, a loan officer in Providence earns approximately $35 per hour assuming a standard 2,080-hour work year.
How does Providence compare to the Rhode Island state average for loan officer pay? ▼
Providence's median loan officer salary of $72,314 is 2.8% above the Rhode Island state average of $70,342. The local cost of living index is 108% of the national average.
What is the cost of living in Providence, RI? ▼
Providence has a cost of living index of 108% compared to the national average. This means a loan officer salary of $72,314 in Providence has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Providence? ▼
Most loan officer positions in Providence 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.