Loan Officer Salary in Boston, MA: $84,248 (2024)

The median loan officer salary in Boston, MA is $84,248 per year ($40.50/hour) as of 2026. This is based on official U.S. Bureau of Labor Statistics data. Salaries range from $55,872 for entry-level positions to $118,573 for experienced professionals in the top 10%.

Entry-level loan officers in Boston, MA typically start at around $55,872 per year ($26.86/hour), representing the 10th percentile. New graduates and those with less than 2 years of experience fall into this range. With experience and skill development, salaries can progress to the median of $84,248 within 3-5 years.

Loan Officers in Boston, MA earn a median hourly wage of $40.50 per hour. Hourly rates range from $26.86/hour at entry-level (10th percentile) to $57.01/hour for top earners (90th percentile). Based on a standard 2,080-hour work year, this translates to annual salaries between $55,872 and $118,573.

The median loan officer salary of $84,248 in Boston, MA is significantly above the national median of $69,990 (20.4% higher). However, the cost of living is 48% above the national average, which affects purchasing power. This salary places you at the 50th percentile, meaning half of loan officers in the area earn more and half earn less.

Loan Officers in Boston, MA earn significantly above the national average. The local median salary of $84,248 is 20.4% higher than the national median of $69,990. However, the cost of living is 48% above the national average, which affects purchasing power. When adjusted for cost of living, the effective salary is approximately $56,771.

The top 10% of loan officers in Boston, MA earn $118,573 or more per year ($57.01/hour). These top earners typically have 10+ years of experience, advanced certifications, specialized expertise, or hold senior/management positions. The 75th percentile earns $102,846, which is a realistic goal for mid-career professionals.

Key skills that can boost loan officer salary in Boston, MA include: Strong communication and interpersonal abilities, Problem-solving and critical thinking, Technical proficiency relevant to the field, Attention to detail and organizational skills. Professionals with these skills often earn above the median of $84,248, potentially reaching the 75th percentile ($102,846) or higher. Years of relevant experience

Boston, MA has a specialized job market for loan officers, with approximately 312 professionals employed in the area. The median salary of $84,248 is significantly above the national average. However, the cost of living is 48% above the national average, which affects purchasing power. Job seekers should consider both salary and local industry demand when evaluating opportunities.

Compare your loan officer salary to these Boston, MA benchmarks: 10th percentile (entry-level): $55,872, 25th percentile: $67,939, 50th percentile (median): $84,248, 75th percentile: $102,846, 90th percentile (top earners): $118,573. If you earn more than $84,248, you're above average for the area.

Beyond the $84,248 median base salary, loan officers in Boston, MA typically receive comprehensive benefits including health insurance (medical, dental, vision), retirement plans (401k with employer matching), paid time off (15-25 days), and potentially bonuses or profit-sharing. Total compensation including benefits typically adds 25-40% to base salary value.

Experienced loan officers with 5-10 years in Boston, MA typically earn $102,846 (75th percentile) to $118,573 (90th percentile) per year. Senior professionals with 10+ years, certifications, or management roles can reach the top 10% at $118,573. Mid-career professionals (3-5 years) usually earn around the median of $84,248.

Loan Officers in Boston, MA can see significant salary growth over their careers. Entry-level ($55,872) to median ($84,248) typically takes 3-5 years. Reaching the 90th percentile ($118,573) may take 10+ years and often requires specialized skills, certifications, or leadership experience. That's a potential growth of $62,701 over a career.