Loan Officers pay range in Memphis
New workers and the lowest-paid 10% earn about $38,210 a year or less, while the top 10% make $131,380 or more. The middle half of loan officers in Memphis earn between $47,430 and $89,780.
- $38K10th
- $47K25th
- $63KMedian
- $90K75th
- $131K90th
median average · bar = middle 50% of workers · how to read it
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $75,860 | $6,322 | $36.47 |
| Median | $63,250 | $5,271 | $30.41 |
| Entry level (25th percentile) | $47,430 | $3,952 | $22.80 |
| Experienced (75th percentile) | $89,780 | $7,482 | $43.16 |
*Hourly figures assume 2,080 paid hours a year. Hourly to annual salary.
Loan Officers pay in Memphis vs. Tennessee and the U.S.
Loan officers in Memphis earn 6% more than the Tennessee average ($71,590) and 14% less than the U.S. average ($87,790). At the median the gap is -18% against the U.S. median of $76,690.
| Area | Average | Median | 10th pct. | 90th pct. | Jobs |
|---|---|---|---|---|---|
| Memphis | $75,860 | $63,250 | $38,210 | $131,380 | 930 |
| Tennessee | $71,590 | $62,800 | $38,240 | $113,290 | 6,510 |
| United States | $87,790 | $76,690 | $39,430 | $153,180 | 274,330 |
State and U.S. rows: BLS statewide and national estimates, May 2025, which include rural areas.
Loan Officers salary after taxes in Memphis
On the average salary of $75,860, a single filer in Memphis takes home about $62,198 a year, or $5,183 a month and $2,392 every two weeks. Taxes take 18% of gross pay.
The Memphis, TN-MS-AR metro area crosses state lines, so take-home pay depends on the state where you work:
| State | Per year | Per month |
|---|---|---|
| Working in TN | $62,198 | $5,183 |
| Working in MS | $59,895 | $4,991 |
| Working in AR | $59,879 | $4,990 |
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and no state income tax.
Is Memphis a good place for loan officers? Pay vs. cost of living
Prices in the Memphis area are 8% below the U.S. average (BEA price parity 92.2), so the average $75,860 buys what about $82,296 would buy in a typical U.S. metro. This job pays 1.3 times the median wage of all jobs in Memphis ($46,890). A typical home costs $247,229, or 3.3 years of this average salary before tax.
Loan Officers salary in other Tennessee cities
Memphis ranks 1st of 10 Tennessee metro areas for this job, the best-paid in the state.
- Memphis$75,860
- Johnson City$74,210
- Nashville$73,240
- Knoxville$72,220
- Chattanooga$70,670
- Clarksville$70,330
- Jackson$65,980
- Kingsport$61,810
- Cleveland$60,100
- Morristown$55,740
Highest-paying cities for loan officers
Elmira, NY pays this job the most of the metro areas we cover ($129,370).
- Elmira, NY$129,370
- New York, NY$121,180
- Boston, MA$120,300
- San Francisco, CA$116,480
- Norwich, CT$116,460
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Loan Officers salary in Memphis: questions
How much do loan officers make an hour in Memphis?
$36.47 an hour on average, and $30.41 at the median (BLS, May 2025).
What is the entry-level loan officers salary in Memphis?
The lowest-paid 10% earn about $38,210 a year and the 25th percentile is $47,430, a fair guide to starting pay.
What is the loan officers take-home pay in Memphis?
About $62,198 a year ($5,183 a month) for a single filer on the average salary of $75,860. Tennessee has no state income tax.
Do loan officers earn more in Memphis than elsewhere?
The average here is 14% less than the U.S. average for this job ($87,790).
Sources and how to read this page
- Wages: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 estimates for metropolitan areas. SOC code 13-2072; area Memphis, TN-MS-AR (32820). Relative standard error of the mean wage: 3.3%.
- U.S. and statewide figures: BLS OEWS national and state estimates, May 2025, every employer including rural areas.
- Cost of living: Bureau of Economic Analysis regional price parities (RPP), 2024; 100 = U.S. average.
- Home value: Zillow Home Value Index. Typical-wage figure: OEWS all occupations, same metro.
- Take-home pay: Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and no state income tax.
- Job concentration: location quotient 0.86, this job is about as common as in the U.S. overall.
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