How Much Do Loan Advisors Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary loan advisors make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for loan advisors and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of loan advisors are offering as compensation.
Keep reading to learn more about how much loan advisors can expect to make in the United States.
At a Glance: Salary & Jobs for Loan Advisors
According to data from 2022, there were about 33,980 positions for loan advisors in the United States. In terms of salary, the national median salary for loan advisors was reported to be $47,320. Additionally, when examining job demand, employers across the country posted 15,043 job postings related to positions for loan advisors.
How Much Money Do Loan Advisors Make?
Median salary is just one data point. To build a better understanding of how much money loan advisors and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for loan advisors.
Annual Salary for Loan Advisors
According to the BLS, the lowest earners for loan advisors and related professions earned about $33,675 per year in 2022. Meanwhile, at the other end of the spectrum, the highest earners made about $74,298 annually.
As mentioned previously, the median salary for loan advisors in the United States in 2022 was $47,320.
Annual Salary Range For Loan Advisors In 2022
Hourly Salary for Loan Advisors
The BLS also breaks down compensation for loan advisors by hourly salary, and the median average hourly pay for loan advisors in 2022 was $23. Lowest hourly earners took home $16 while the highest reported hourly salaries for loan advisors was $36.
Hourly Salary Range For Loan Advisors In 2022
Advertised Compensation for Loan Advisors
Data from the BLS is one way to dig into compensation for loan advisors, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for loan advisors.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Loan Advisors
Advertised Annual Salary
During a review of 14,622 job postings related to loan advisors, advertised salary was included in 3,855 of them, which was 26%. Based on those postings, the median advertised salary for loan advisors was $45,696 per year.
Hourly Salary from Job Postings for Loan Advisors
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for loan advisors. Based on 26% of postings with advertised compensation, the median hourly salary for open positions for loan advisors in the United States is about $22.
Salary Trend for Loan Advisors
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for loan advisors. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for loan advisors dating back to September 2019, advertised salaries for loan advisors have increased 14%.
Advertised Wage Trend For Loan Advisors
What's the Job Growth for Loan Advisors?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for loan advisors over the next 10 years.
According to the data obtained through Lightcast,™ there were 34,039 jobs for loan advisors in the United States in 2022. By 2032, it is expected that about 4,620 jobs will be added. That's a 13.6% increase over the next 10-year period.
Employment Projections For Loan Advisors
Additional Links
Ready to dig deeper into career information about loan advisors? Visit our other pages focused on salary and education for loan advisors.
What do loan advisors do?
Loan Advisors: How do you become one?
All Occupations
The Best Adult Colleges and Careers Guide has compiled data for dozens of in-demand jobs. Explore our full catalog of occupation data by visiting the link below.