Loan Officers in Rhode Island
Get the information you need to know about working as a Loan Officer.
You’re in luck! Jobs for Loan Officers in Rhode Island are projected to grow and these jobs tend to pay higher than average.
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Projected employment for Loan Officers in Rhode Island is growing faster than average.
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Loan Officers in Rhode Island earn higher salaries than the typical U.S. wage earner.
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How Many Loan Officers Work in Rhode Island?
In Rhode Island, there were 1,820 people working as Loan Officers in the year 2018.
There were 1,560 Loan Officers employed in this state in 2017.
That’s growth of 260 jobs between 2017 and 2018.
The typical state has 4,250 Loan Officers working in it, which means Rhode Island has fewer Loan Officers than average.
Job Projections for Rhode Island
Jobs for Loan Officers in this state are growing at a rate of 10.9% which is slower than the nationwide estimated projection of 11.4%.
Rhode Island Annual Job Openings
The BLS is projecting 120 annual Loan Officers job openings in Rhode Island, and 1,420 total jobs in the year 2026.
Nationwide, the prediction is 30,400 annual jobs and 354,900 total jobs in 2026.
What do Loan Officers Make in Rhode Island?
In 2018 wages for Loan Officers ranged from $32,640 to $117,580 with $60,460 being the median annual salary.
Broken down to an hourly rate, workers in this field made anywhere from $15.69 to $56.53. The median hourly rate was $29.07.
In 2017 the median pay for this field was $28.5 an hour.
The hourly rate grew by $0.57.
The median salary in Rhode Island is higher than the nationwide median salary.
Top Rhode Island Metros for Loan Officers
The table below shows some of the metros in this state with the most Loan Officers.
| Metro | Number Employed | Annual Median Salary |
|---|---|---|
| Providence-Warwick, RI-MA | 1,930 | $60,670 |
| Norwich-New London-Westerly, CT-RI | 150 | $66,070 |
Top States for Loan Officers Employment
The table below shows the states where most Loan Officers work.
| State | Number Employed | Annual Median Salary |
|---|---|---|
| California | 37,030 | $61,310 |
| Texas | 19,950 | $68,710 |
| Florida | 18,000 | $67,760 |
| North Carolina | 13,910 | $62,360 |
| New York | 12,890 | $78,520 |
| Illinois | 12,330 | $66,570 |
| Ohio | 11,520 | $64,770 |
| Virginia | 10,140 | $63,860 |
| Pennsylvania | 10,010 | $59,340 |
| Arizona | 8,970 | $54,400 |
| Georgia | 7,790 | $54,690 |
| Minnesota | 7,740 | $72,030 |
| Missouri | 7,130 | $68,010 |
| Wisconsin | 7,090 | $62,850 |
| Washington | 6,940 | $60,540 |
| New Jersey | 6,670 | $73,180 |
| Massachusetts | 5,780 | $70,090 |
| Tennessee | 5,440 | $54,490 |
| Kentucky | 5,300 | $60,400 |
| Utah | 5,220 | $45,470 |
Below are the states where Loan Officers get paid the most:
| State | Annual Median Salary |
|---|---|
| New York | $78,520 |
| New Hampshire | $76,430 |
| Nebraska | $75,800 |
| Connecticut | $74,990 |
| District of Columbia | $74,840 |
| New Jersey | $73,180 |
| Minnesota | $72,030 |
| Kansas | $71,550 |
| Massachusetts | $70,090 |
| Texas | $68,710 |
Related Careers in RI
Discover similar careers:
References
- Bureau of Labor Statistics (BLS)
- College Factual
- National Center for Education Statistics
- O*NET Online
- Image Credit: By Dave Dugdale under License
More about our data sources and methodologies.
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