DOL Filings vs BLS Survey
What Employers File with DOL
This figure comes from 436 employer filings with the US Department of Labor under legal obligation. Employers file this salary when sponsoring workers for PERM green cards or H-1B visas.
What BLS Says the Market Pays
This figure comes from the BLS Occupational Employment and Wage Statistics survey of 290,530 establishments. This is an independent survey-based estimate of what all workers in this occupation earn.
Salary Distribution
Top Paying Employers for Loan Officers
Ranked by median salary from DOL filings| Rank | Employer | Median Salary | Filings | vs Market |
|---|---|---|---|---|
| 1 | HSBC Bank USA N.A | $86,000 | 6 | +15.9% |
| 2 | East West Bank | $82,000 | 7 | +10.5% |
| 3 | Shanghai Commercial Bank Limited | $73,450 | 5 | -1% |
| 4 | Leader Bank NA | $67,600 | 7 | -8.9% |
| 5 | Bank of the Orient | $61,901 | 5 | -16.6% |
| 6 | METRO CITY BANK | $52,580 | 6 | -29.1% |
| 7 | MIDWEST, INC. | $50,721 | 5 | -31.6% |
| 8 | SHINHAN BANK AMERICA | $49,254 | 18 | -33.6% |
| 9 | Hanin Federal Credit Union | $46,332 | 8 | -37.5% |
| 10 | KEB Hana LA Financial Corp. | $44,294 | 7 | -40.3% |
| 11 | International Bank of Chicago | $42,390 | 27 | -42.9% |
Salary by Metro Area
| Metro Area | Median | vs National | Filings | Employers |
|---|---|---|---|---|
| New York, NE | $119,150 | +129.1% | 18 | 16 |
| New York, NY | $70,000 | +34.6% | 38 | 30 |
| Los Angeles, CA | $46,509 | -10.6% | 29 | 17 |
| Chicago, IL | $42,390 | -18.5% | 14 | 5 |
Salary by State
| State | Median | vs National | Filings |
|---|---|---|---|
| Nebraska | $100,000 | +32.1% | 23 |
| District of Columbia | $92,000 | -10% | 1 |
| Tennessee | $79,000 | +25.1% | 2 |
| Pennsylvania | $74,984 | +22% | 3 |
| Massachusetts | $67,600 | -27.7% | 16 |
| New York | $65,062 | -34.2% | 53 |
| Washington | $63,542 | -17.5% | 1 |
| Indiana | $62,000 | -13.2% | 3 |
| New Jersey | $58,802 | -38.2% | 9 |
| Florida | $55,000 | -22.9% | 17 |
| North Carolina | $55,000 | -27.5% | 5 |
| Utah | $52,000 | -14.6% | 1 |
| California | $49,920 | -37.3% | 77 |
| Virginia | $49,500 | -37.8% | 3 |
| Ohio | $45,000 | -35% | 3 |
| Georgia | $44,629 | -38.2% | 4 |
| Texas | $44,100 | -30.9% | 13 |
| Illinois | $41,995 | -44.7% | 30 |
| Connecticut | $38,400 | -50.5% | 1 |
| Delaware | $37,523 | -53.5% | 2 |
| Michigan | $37,197 | -48.8% | 2 |
| Maryland | $34,694 | -52.7% | 5 |
| Kentucky | $32,469 | -52.7% | 1 |
| Louisiana | $31,200 | -45.6% | 1 |
| Oklahoma | $30,181 | -54.1% | 1 |
Salary Trend - DOL Data
Education Requirements
From PERM filingsFor Loan Officers positions, 59% of PERM filings required a Bachelor's degree, 33% required a Master's degree, and 4% required no formal degree.
Education by Top Employer
Most common minimum education from PERM filings| Employer | Most Common Education | Median Salary |
|---|---|---|
| International Bank of Chicago | Not specified | $42,390 |
| SHINHAN BANK AMERICA | Bachelor's | $49,254 |
| Hanin Federal Credit Union | Bachelor's | $46,332 |
| Leader Bank NA | Not specified | $67,600 |
| East West Bank | Master's | $82,000 |
| KEB Hana LA Financial Corp. | Not specified | $44,294 |
| METRO CITY BANK | Bachelor's | $52,580 |
| HSBC Bank USA N.A | Bachelor's | $86,000 |
| Bank of the Orient | Bachelor's | $61,901 |
| Shanghai Commercial Bank Limited | Bachelor's | $73,450 |
Salary by Industry
Same occupation, different industries (NAICS)The highest-paying industry for Loan Officers is Finance and Insurance at $60,460.
Frequently Asked Questions
Based on 436 DOL filings, the median salary for a Loan Officers is $52,000, ranging from $43,618 to $74,984.
The 90th percentile salary is $145,780 according to BLS data.
Based on DOL filings, New York, NE offers the highest median at $119,150.
DOL filing data covers positions where the employer filed for PERM green card sponsorship or an H-1B visa. These filings represent a subset of all Loan Officers positions. We compare this data against BLS OEWS data which covers all workers in this occupation.
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