Bank of America Loan Officer Salaries - Browse Average Salaries by Location
Browse Bank of America Salaries by Job Title →Updated
What is the average salary of Bank of America Loan Officer?
Bank of America Loan Officers earn $47,000 annually, or $23 per hour, which is 2% lower than the national average for all Loan Officers at $48,000 annually and 34% lower than the national salary average for all working Americans. The highest paid Loan Officers work for First Meridian Mortgage at $128,000 annually and the lowest paid Loan Officers work for Security Vault Works at $18,000 annually.
$81K Charlotte, NC Loan Officer Average Salary at Bank of America (2 salaries)
+$33K (51%) more than national average Loan Officer salary ($48K)
+$36K (57%) more than average Bank of America salary ($45K)
$91K
Bank of America Loan Officer
in Charlotte, NC
·
+$44K (63%) more than average Bank of America Loan Officer salary ($47K)
"The amount of income was eventually capped, however, I thought the compensation was fair, and my income would constantly fluctuate from year to year."
$70K
Bank of America Loan Officer
in Charlotte, NC
·
+$23K (39%) more than average Bank of America Loan Officer salary ($47K)
$55K Corona, CA Loan Officer Average Salary at Bank of America ·
+$7K (13%) more than national average Loan Officer salary ($48K)
+$10K (20%) more than average Bank of America salary ($45K)
"Bank of America starts you at a decent hourly rate during your 1 year of training.
After a year your hourly rate changes to a lesser amount. You have many ways to make money through referrals made to your partners inside the branch.
Bank of America expectations in funding 5 loans a month is not doable because a lot of our clients, do not have a social security number, assets, compensation factors, or the credit to be approved for a loan and we do not have good pricing.
You have to work extra hours to meet your goal, funding 5 loans and they do pay overtime."
$62K Las Vegas, NV Loan Officer Average Salary at Bank of America ·
+$14K (25%) more than national average Loan Officer salary ($48K)
+$17K (31%) more than average Bank of America salary ($45K)
"The salary in my current position was, what I considered competitive when I first started there. My co-workers and I made industry standard salaries, with a lucrative bonus structure. It worked well, but as we made record income in our department for the company, a new management team started to re-structure the incentive payout scale to gradually reduce bonus pay each quarter."
$65K Peoria, AZ Loan Officer Average Salary at Bank of America ·
+$17K (30%) more than national average Loan Officer salary ($48K)
+$20K (36%) more than average Bank of America salary ($45K)
"Salary plus commission. No payback on monthly compensation. Similar pay structure to other banks"
$50K Buford, GA Loan Officer Average Salary at Bank of America ·
+$2K (4%) more than national average Loan Officer salary ($48K)
+$5K (10%) more than average Bank of America salary ($45K)
$50K Addison, TX Loan Officer Average Salary at Bank of America ·
+$2K (4%) more than national average Loan Officer salary ($48K)
+$5K (10%) more than average Bank of America salary ($45K)
$50K San Antonio, TX Loan Officer Average Salary at Bank of America ·
+$2K (4%) more than national average Loan Officer salary ($48K)
+$5K (10%) more than average Bank of America salary ($45K)
$75K Ontario, CA Loan Officer Average Salary at Bank of America ·
+$27K (43%) more than national average Loan Officer salary ($48K)
+$30K (50%) more than average Bank of America salary ($45K)
What is the salary for Loan Officer at Bank of America?
The salary for Loan Officer at Bank of America is $57,000 annually.
What company pays the highest salary for the Loan Officer position?
First Meridian Mortgage pays the highest salary for the Loan Officer position at $128,000 annually.
What company pays the lowest salary for the Loan Officer position?
Security Vault Works pays the lowest salary for the Loan Officer position at $18,000 annually.
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