Loan Officer/Loan Processor demographics and statistics in the US
Loan officer/loan processor demographics research summary. Zippia estimates loan officer/loan processor demographics and statistics in the United States by using a database of 30 million profiles. Our loan officer/loan processor estimates are verified against BLS, Census, and current job openings data for accuracy. Zippia's data science team found the following key facts about loan officers/loan processor after extensive research and analysis:
- There are over 233,104 loan officers/loan processor currently employed in the United States.
- 67.9% of all loan officers/loan processor are women, while 32.1% are men.
- The average loan officer/loan processor age is 44 years old.
- The most common ethnicity of loan officers/loan processor is White (62.9%), followed by Hispanic or Latino (16.2%), Black or African American (9.3%) and Asian (6.5%).
- Loan officers/loan processor are most in-demand in Tampa, FL.
- Columbia, MD pays an annual average wage of $58,081, the highest in the US.
- In 2022, women loan officers/loan processor earned 85% of what men earned.
- New Jersey is the best state for loan officers/loan processor to live.
- Loan officers/loan processor are 72% more likely to work at private companies in comparison to public companies.
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Loan Officer/Loan Processor demographics by:
Loan Officer/Loan Processor gender statistics
67.9% of loan officers/loan processor are women and 32.1% of loan officers/loan processor are men.
- Female, 67.9%
- Male, 32.1%
Loan Officer/Loan Processor gender ratio
Gender  | Percentages |
|---|---|
| Female | 67.9% |
| Male | 32.1% |
Loan Officer/Loan Processor gender pay gap
Women earn 85¢ for every $1 earned by men
Male Income
$51,266
Female Income
$43,542
Loan Officer/Loan Processor gender ratio over time
This data breaks down the percentage of men and women in loan officer/loan processor positions over time. Currently, 67.9% of loan officers/loan processor are female.
Loan Officer/Loan Processor gender ratio by year
| Year | Male | Female |
|---|---|---|
| 2010 | 32.81% | 67.19% |
| 2011 | 30.78% | 69.22% |
| 2012 | 31.13% | 68.87% |
| 2013 | 32.03% | 67.97% |
| 2014 | 32.24% | 67.76% |
| 2015 | 30.01% | 69.99% |
| 2016 | 34.01% | 65.99% |
| 2017 | 32.19% | 67.81% |
| 2018 | 32.93% | 67.07% |
| 2019 | 31.07% | 68.93% |
| 2020 | 33.24% | 66.76% |
| 2021 | 32.06% | 67.94% |
Loan Officer/Loan Processor related jobs gender ratio
We compared loan officers/loan processor with similar job titles to see how gender ratios vary. As you can see, renewable energy system finance specialist and chartered finance analyst have the biggest gender ratio gaps.
| Job Title | Male | Female |
|---|---|---|
| Escrow Officer | 15% | 85% |
| Customs Verifier | 20% | 80% |
| Credit Assistant | 20% | 80% |
| Loan Officer/Loan Processor | 32% | 68% |
| Head Analyst | 86% | 14% |
| Chartered Finance Analyst | 90% | 10% |
| Renewable Energy System Finance Specialist | 92% | 8% |
Male
Female
100%
75%
50%
25%
0%
0%
25%
50%
75%
100%
Loan Officer/Loan Processor demographics by race
The most common ethnicity among loan officers/loan processor is White, which makes up 62.9% of all loan officers/loan processor. Comparatively, 16.2% of loan officers/loan processor are Hispanic or Latino and 9.3% of loan officers/loan processor are Black or African American.
- White, 62.9%
- Hispanic or Latino, 16.2%
- Black or African American, 9.3%
- Asian, 6.5%
- Unknown, 4.6%
- American Indian and Alaska Native, 0.5%
Loan Officer/Loan Processor Race
| Loan Officer/Loan Processor Race | Percentages |
|---|---|
| White | 62.9% |
| Hispanic or Latino | 16.2% |
| Black or African American | 9.3% |
| Asian | 6.5% |
| Unknown | 4.6% |
| American Indian and Alaska Native | 0.5% |
Loan Officer/Loan Processor race and ethnicity over time
See how loan officer/loan processor racial and ethnic diversity trended since 2010 according to the United States Census Bureau data.
- White
- Asian
- Hispanic or Latino
- Black or African American
Loan Officer/Loan Processor race and ethnicity by year
| Year | White | Black or African American | Asian | Hispanic or Latino |
|---|---|---|---|---|
| 2010 | 69.00% | 9.88% | 5.41% | 13.96% |
| 2011 | 68.42% | 10.18% | 5.50% | 14.06% |
| 2012 | 67.93% | 9.75% | 6.66% | 13.46% |
| 2013 | 67.75% | 9.53% | 6.71% | 13.61% |
| 2014 | 66.98% | 9.36% | 6.31% | 14.93% |
| 2015 | 68.66% | 8.71% | 6.34% | 13.83% |
| 2016 | 68.69% | 9.78% | 6.21% | 13.65% |
| 2017 | 69.21% | 9.00% | 5.93% | 13.67% |
| 2018 | 68.22% | 8.40% | 6.40% | 14.91% |
| 2019 | 67.23% | 8.51% | 6.80% | 15.16% |
| 2020 | 65.95% | 9.06% | 6.06% | 14.88% |
| 2021 | 62.89% | 9.32% | 6.45% | 16.21% |
Loan Officer/Loan Processor wage gap by race
According to our data, asian loan officers/loan processor have the highest average salary compared to other ethnicities. Black or african american loan officers/loan processor have the lowest average salary at $46,905.
| Ethnicity | Salary |
|---|---|
| Unknown | $52,420 |
| White | $52,891 |
| Black or African American | $46,905 |
| Asian | $55,321 |
| Hispanic or Latino | $49,221 |
Loan Officer/Loan Processor JOBS
Average loan officer/loan processor age
See how the average age of loan officers/loan processor varies based on ethnicity and gender.
Male
Female
Loan Officer/Loan Processor age by race and gender
| Race | Male Age | Female Age |
|---|---|---|
| Unknown | 43 | 41 |
| White | 44 | 46 |
| Black or African American | 42.5 | 42 |
| Asian | 42 | 45 |
| Hispanic or Latino | 40.5 | 41 |
Loan Officer/Loan Processor age breakdown
The average age of loan officers/loan processor is 40+ years years old, representing 64% of the loan officer/loan processor population.
Loan Officer/Loan Processor age breakdown
| Loan Officer/Loan Processor Years | Percentages |
|---|---|
| 40+ years | 64% |
| 30-40 years | 26% |
| 20-30 years | 10% |
Loan Officer/Loan Processor educational attainment
The most common degree for loan officers/loan processor is bachelor's degree, with 50% of loan officers/loan processor earning that degree. The second and third most common degree levels are associate degree degree at 20% and associate degree degree at 15%.
- Bachelor's, 50%
- Associate, 20%
- High School Diploma, 15%
- Master's, 7%
- Other Degrees, 8%
Loan Officers/Loan Processor by degree level
| Loan Officer/Loan Processor Degree | Percentages |
|---|---|
| Bachelor's | 50% |
| Associate | 20% |
| High School Diploma | 15% |
| Master's | 7% |
| Other Degrees | 8% |
Loan Officer/Loan Processor Jobs You Might Like
Loan Officer/Loan Processor wage gap by degree level
According to the data, loan officers/loan processor with a Master's degree earn more than those without, at $60,143 annually. With a Bachelor's degree, loan officers/loan processor earn a median annual income of $53,982 compared to $46,306 for loan officers/loan processor with an Associate degree.
| Education | Salary |
|---|---|
| Master's Degree | $60,143 |
| High School Diploma or Less | $45,794 |
| Bachelor's Degree | $53,982 |
| Some College/ Associate Degree | $46,306 |
Loan Officer/Loan Processor employment statistics
Most loan officers/loan processor work for a private in the finance industry.
Company size where loan officers/loan processor work
Below, you can see the size of companies where loan officers/loan processor work.
Loan Officer/Loan Processor jobs by employer size
| Company Size | Percentages |
|---|---|
| < 50 employees | 6% |
| 50 - 100 employees | 26% |
| 100 - 500 employees | 25% |
| 500 - 1,000 employees | 10% |
| 1,000 - 10,000 employees | 17% |
| > 10,000 employees | 14% |
Loan Officer/Loan Processor jobs by company type
Employees with the loan officer/loan processor job title have their preferences when it comes to working for a company. For instance, most loan officers/loan processor prefer to work at private companies over public companies.
Loan Officer/Loan Processor jobs by sector
| Company Type | Percentages |
|---|---|
| Education | 1% |
| Public | 23% |
| Private | 72% |
| Government | 4% |
Loan Officer/Loan Processor jobs by industry
The most common industries for loan officers/loan processor are finance, technology and professional.
Loan Officer/Loan Processor industry statistics
| Industry | Percentages |
|---|---|
| Finance | 60% |
| Fortune 500 | 8% |
| Professional | 5% |
| Technology | 5% |
| Government | 3% |
| Real Estate | 3% |
| Manufacturing | 3% |
| Transportation | 2% |
| Construction | 2% |
| Non Profits | 1% |
| Media | 1% |
| Health Care | 1% |
| Education | 1% |
| Energy | 1% |
| Internet | 1% |
| Automotive | 1% |
| Hospitality | 1% |
| Retail | 1% |
| Insurance | 1% |
Loan Officer/Loan Processor turnover and employment statistics
Loan Officer/Loan Processor unemployment rate over time
The unemployment rate for loan officers/loan processor between 2008 and the most recent data has varied, according to the Bureau of Labor Statistics.
- Unemployment rate
Loan Officer/Loan Processor unemployment rate by year
| Year | Loan Officer/Loan Processor Unemployment Rate |
|---|---|
| 2010 | 7.62% |
| 2011 | 6.08% |
| 2012 | 4.66% |
| 2013 | 3.31% |
| 2014 | 4.27% |
| 2015 | 2.27% |
| 2016 | 2.06% |
| 2017 | 1.56% |
| 2018 | 1.99% |
| 2019 | 1.92% |
| 2020 | 1.62% |
| 2021 | 2.33% |
Average loan officer/loan processor tenure
The average loan officer/loan processor stays at their job for 1-2 years, based on the 3,135 loan officers/loan processor resumes in Zippia's database.
Loan Officer/Loan Processor tenure statistics
| Number of years | Percentages |
|---|---|
| Less than 1 year | 14% |
| 1-2 years | 39% |
| 3-4 years | 20% |
| 5-7 years | 14% |
| 8-10 years | 5% |
| 11+ years | 7% |
Loan Officer/Loan Processor LGBT ratio compared to similar jobs
Review the percent of loan officers/loan processor that are members of the LGBT community. You can see how this compares to similar jobs in the chart below.
| Job Title | LGBT | Job Openings |
|---|---|---|
| Equity Analyst | 7.33% | 51,437 |
| Senior Cost Accountant | 7.40% | 45,010 |
| Tax Preparation Assistant | 7.56% | 26,792 |
| Revenue Tax Specialist | 7.65% | 29,916 |
| Loan Officer/Loan Processor | 7.87% | - |
| Budget Officer | 12.94% | 56,413 |
| Finance Compliance Examiner | 19.38% | 85,381 |
Similar loan officer/loan processor jobs LGBT demographics
| Profession | Percentages of LGBT | Job Openings |
|---|---|---|
| Equity Analyst | 7.33% | 51,437 |
| Senior Cost Accountant | 7.40% | 45,010 |
| Tax Preparation Assistant | 7.56% | 26,792 |
| Revenue Tax Specialist | 7.65% | 29,916 |
| Budget Officer | 12.94% | 56,413 |
| Finance Compliance Examiner | 19.38% | 85,381 |
Foreign languages spoken by loan officers/loan processor
The most common foreign language among loan officers/loan processor is Spanish at 67.5%. The second-most popular foreign language spoken is French at 7.1% and German is the third-most popular at 4.0%.
- Spanish, 67.5%
- French, 7.1%
- German, 4.0%
- Portuguese, 2.4%
- Amharic, 2.4%
- Other, 16.6%
Loan Officer/Loan Processor languages spoken
| Foreign Language | Percentages |
|---|---|
| Spanish | 67.5% |
| French | 7.1% |
| German | 4.0% |
| Portuguese | 2.4% |
| Amharic | 2.4% |
| Other | 16.6% |