Loan Officers Salary in Phoenix, AZ

In Phoenix, AZ, loan officers earn a median annual salary of $53,700, which translates to a median hourly wage of $25.82. This figure is notably lower than the national median for loan officers, which stands at $74,180. When compared to the area's median household income of $84,703, the earnings of typical loan officers in Phoenix fall significantly short. This discrepancy highlights that most loan officer salaries do not meet or exceed the average household income within the region. The local unemployment rate is relatively low at 3.20%, suggesting a competitive job market where securing positions above this median salary may be challenging.

Entry-level loan officers in Phoenix earn around $29,990 annually (10th percentile), while more experienced professionals can reach up to $108,630 per year (90th percentile). The substantial pay gap between these levels is primarily driven by factors such as experience, performance, and the complexity of the roles handled. Those at the 25th percentile typically earn about $46,450 annually, indicating initial stages of career progression, whereas loan officers in the 75th percentile make approximately $79,620, reflecting significant advancement and responsibility within their positions. These differences underscore how proficiency, tenure, and expertise play critical roles in salary determination for loan officers in this region.