How Much Do Mortgage Bankers 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 mortgage bankers 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 mortgage bankers 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 mortgage bankers are offering as compensation.
Keep reading to learn more about how much mortgage bankers can expect to make in the United States.
At a Glance: Salary & Jobs for Mortgage Bankers
According to data from 2022, there were about 345,813 positions for mortgage bankers in the United States. In terms of salary, the national median salary for mortgage bankers was reported to be $65,728. Additionally, when examining job demand, employers across the country posted 82,003 job postings related to positions for mortgage bankers.
How Much Money Do Mortgage Bankers Make?
Median salary is just one data point. To build a better understanding of how much money mortgage bankers 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 mortgage bankers.
Annual Salary for Mortgage Bankers
According to the BLS, the lowest earners for mortgage bankers and related professions earned about $34,923 per year in 2022. Meanwhile, at the other end of the spectrum, the highest earners made about $138,590 annually.
As mentioned previously, the median salary for mortgage bankers in the United States in 2022 was $65,728.
Annual Salary Range For Mortgage Bankers In 2022
Hourly Salary for Mortgage Bankers
The BLS also breaks down compensation for mortgage bankers by hourly salary, and the median average hourly pay for mortgage bankers in 2022 was $32. Lowest hourly earners took home $17 while the highest reported hourly salaries for mortgage bankers was $67.
Hourly Salary Range For Mortgage Bankers In 2022
Advertised Compensation for Mortgage Bankers
Data from the BLS is one way to dig into compensation for mortgage bankers, 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 mortgage bankers.
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 Mortgage Bankers
Advertised Annual Salary
During a review of 88,197 job postings related to mortgage bankers, advertised salary was included in 24,970 of them, which was 28%. Based on those postings, the median advertised salary for mortgage bankers was $115,072 per year.
Hourly Salary from Job Postings for Mortgage Bankers
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for mortgage bankers. Based on 30% of postings with advertised compensation, the median hourly salary for open positions for mortgage bankers in the United States is about $55.
Salary Trend for Mortgage Bankers
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for mortgage bankers. 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 mortgage bankers dating back to September 2019, advertised salaries for mortgage bankers have increased 53%.
Advertised Wage Trend For Mortgage Bankers
What's the Job Growth for Mortgage Bankers?
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 mortgage bankers over the next 10 years.
According to the data obtained through Lightcast,™ there were 345,998 jobs for mortgage bankers in the United States in 2022. By 2032, it is expected that about 29,890 jobs will be added. That's a 8.6% increase over the next 10-year period.
Employment Projections For Mortgage Bankers
Additional Links
Ready to dig deeper into career information about mortgage bankers? Visit our other pages focused on salary and education for mortgage bankers.
What do mortgage bankers do?
Mortgage Bankers: How do you become one?
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