Loan Officers (13-2072) in Norwich-New London Labor Market Area

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Loan Officers (13-2072) in Norwich-New London Labor Market Area

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Norwich-New London LMA (1Q 2023)
All Industry
Estimated employment		130
Mean wage		$36.97
Entry wage		$22.61
10th percentile wage		$22.15
50th percentile wage		$32.25
90th percentile wage		$57.64

Top Employing Industries
Industry	Employment / Percent
Credit Intermediation and Related Activities	90	65.1%
Management of Companies and Enterprises

Top Paying Industries
Industry	Employment / Median Wage
Credit Intermediation and Related Activities	90	$35.66
Management of Companies and Enterprises		$30.80

Loan Officers (13-2072)

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.


Median Wage History
Year	This Occupation		Compared to Occupational Group		Difference
Current	$32.25		$37.86		-$5.60
2022	$31.62	+2.0%	$37.12	+2.0%	-$5.50
2021	$30.20	+4.7%	$35.45	+4.7%	-$5.25
2020	$29.53	+2.3%	$34.67	+2.3%	-$5.13
2019	$28.86	+2.3%	$33.88	+2.3%	-$5.02
2018	$28.09	+2.8%	$32.97	+2.8%	-$4.88
2017	$27.42	+2.4%	$32.18	+2.4%	-$4.76
2016	$26.64	+2.9%	$31.28	+2.9%	-$4.63
2015	$25.99	+2.5%	$30.51	+2.5%	-$4.52
2014	$25.47	+2.1%	$29.90	+2.1%	-$4.43
Year	This Occupation		Compared to All Occupations		Difference
Current	$32.25		$24.55		$7.70
2022	$31.62	+2.0%	$23.73	+3.4%	$7.89
2021	$30.20	+4.7%	$22.46	+5.7%	$7.74
2020	$29.53	+2.3%	$21.69	+3.5%	$7.84
2019	$28.86	+2.3%	$21.07	+2.9%	$7.79
2018	$28.09	+2.8%	$20.46	+3.0%	$7.63
2017	$27.42	+2.4%	$19.87	+2.9%	$7.54
2016	$26.64	+2.9%	$19.41	+2.4%	$7.23
2015	$25.99	+2.5%	$18.92	+2.6%	$7.08
2014	$25.47	+2.1%	$18.52	+2.2%	$6.95

Note: The mid-wage is the median wage. The average wage is the mean wage. The entry-level wage is equal to the average of the lower third of reported wages for the occupation. The wage range consists of the 10th and 90th percentiles; 80% of workers earn between this wage range, 10% earn less while 10% earn more.
Reference Date: 1st Quarter 2023

Top Areas For This Occupation

Best Pay
Median Wage / Employment
Danbury	$37.21	140
Bridgeport-Stamford	$33.15
Norwich-New London	$32.25	130
New Haven	$31.45	240
Hartford	$30.88	1,160

Highest Employment
Median Wage / Employment
Hartford	$30.88	1,160
New Haven	$31.45	240
Danbury	$37.21	140
Norwich-New London	$32.25	130
Waterbury	$30.38	60


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