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
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.