Business & Finance Memphis, TN
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Loan Officer Salary in Memphis, Tennessee
The median loan officer salary in Memphis, TN is $56,536 per year, which is 14% below the national median and 3.4% below the Tennessee state average.
City Median
$56,536
vs State Avg
$-1,973
vs National
$-9,204
Cost of Living
86%
Loan Officer Salary in Memphis by Experience
In Memphis, an entry-level loan officer earns around $32,680, while experienced professionals earn up to $111,800 per year. The local cost of living index is 86% of the national average.
Entry Level (0-2 yrs)
$32,680
$-5,320 vs national
Mid Level (3-7 yrs)
$56,760
$-9,240 vs national
Senior Level (8+ yrs)
$111,800
$-18,200 vs national
Salary Percentiles in Memphis, TN
| Percentile | Memphis |
|---|---|
| 10th Percentile | $30,272 |
| 25th Percentile | $39,044 |
| Median (50th) | $56,536 |
| 75th Percentile | $86,000 |
| 90th Percentile | $132,268 |
Loan Officer Salary in Other Tennessee Cities
How to Become a Loan Officer in Memphis
Education
Most loan officer positions require a bachelor's degree. Memphis and the surrounding Tennessee 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 Memphis may vary based on local industry and population growth.