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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 employment130
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
 IndustryEmployment / Percent
Credit Intermediation and Related Activities9065.1%
Management of Companies and Enterprises
 Top Paying Industries
 IndustryEmployment / Median Wage
Credit Intermediation and Related Activities90$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
YearThis OccupationCompared to Occupational GroupDifference
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
YearThis OccupationCompared to All OccupationsDifference
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  
Wages in other areas
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