Real Estate Brokers vs Loan Officers salary

As stated by the US Bureau of Labor Statistics, the average yearly salary for Real Estate Brokers is $86,490, compared to $80,570 for Loan Officers. This shows that these two roles earn similar salaries.

However, it's important to note that the amount of pay an employee receives can be influenced by factors like location, experience, and the specific setting in which they work. For example, Loan Officers who work in New York (with an average salary of $107,770) may earn more than those who work in Mississippi ($55,340).

Real Estate Brokers vs Loan Officers overview

Real Estate Brokers and Loan Officers are two important roles in the Credit Intermediation industry. Many people are interested in understanding the differences between these jobs, as well as the average salaries for each.

Real Estate Broker job description

Real Estate Brokers operate real estate office, or work for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.

Real Estate Broker education and experience

37% of Real Estate Brokers have obtained a Bachelor's Degree, 24% hold a College Course Certificate, and 12% have a High School Diploma. When it comes to experience, 28% of Real Estate Broker occupations do not require any previous experience. A smaller portion of roles (24%) require a previous experience of 2 to 4 years.

Real Estate Broker average salary

The US Bureau of Labor Statistics has reported that in 2021, there were 48,460 Real Estate Brokers working in the United States, and on average, they earned $86,490 per year. The bottom 10 percent had earnings of $30,470 or less, and the top 10 percent had earnings of $176,080 or more. The average salary has an increase of 6% in comparison to the previous year.

Do Real Estate Brokers make good money?

Real Estate Brokers are typically paid well, since their mean salary is about a half above the average pay in the United States ($58,260). Additionally, they make about a half more than the mean salary of the Real Estate industry ($55,880).

Real Estate Brokers are typically paid well, since their mean salary is about a half above the average pay in the United States ($58,260).

Real Estate Brokers job growth

There has been an increase in the employment of Real Estate Brokers in the last two years. In 2021, there have been 3,850 more job opportunities than the previous year across the nation, and that shows an increase of 8.6%. Job growth has averaged 6.3% over the past 3 years.

Loan Officer job description

Loan Officers 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, loan underwriters, and payday loan officers.

Loan Officer education and experience

The majority of Loan Officers (69%) hold a Bachelor's Degree. However, among employees in this occupation, there are also some with a College Course Certificate (13%) and an Associate's Degree (11%). When it comes to experience, 40% of Loan Officer jobs require a 4 to 6 years of work-related experience. A smaller part of jobs (31%) require a previous experience of 2 to 4 years.

Loan Officer average salary

As reported by the US Bureau of Labor Statistics, in 2021, the number of Loan Officers employed in the United States was 340,170, and they earned an average of $80,570 per year. The bottom 10 percent had a salary of $32,520 or less, and the top 10 percent had a salary of $138,310 or more. The average salary marks an increase of 4.7% compared the previous year.

Do Loan Officers make good money?

Loan Officers are usually paid well, as their average salary is 38% higher than the average salary in the United States ($58,260). Moreover, they earn 12% more than the average pay of the Credit Intermediation industry ($71,620).

Loan Officers are usually paid well, as their average salary is 38% higher than the average salary in the United States ($58,260).

Loan Officers job growth

The employment rate for Loan Officers has risen in the last two years. In 2021, there have been 31,470 more roles than the previous year nationwide, which marks a growth of 10.2%. Over the past 3 years, job growth has averaged 3.8%.

FAQ

Do Real Estate Brokers or Loan Officers make more?

The salaries for these two occupations are similar. The average annual pay for Loan Officers is $80,570, while Real Estate Brokers earn $86,490 per year.