Home > Salary > Canada > Loan Officer
A loan officer is responsible for evaluating, approving, and managing loan applications. They work in banks, credit unions, or other financial institutions. Their primary role is to assess the creditworthiness of applicants, analyze financial information, and determine the risk associated with granting a loan. Loan officers also guide applicants through the loan process, explaining terms and conditions, and ensuring compliance with lending regulations. They must possess strong communication and interpersonal skills to build relationships with clients and provide exceptional customer service. Additionally, loan officers monitor loan portfolios, review payment schedules, and address any issues or concerns that may arise during the loan term.
Estimated Yearly Salary: 51,539 CAD
Estimated Monthly Salary: 4,295 CAD
Estimated Weekly Salary: 991 CAD per week
Estimated Hourly Salary: 25 CAD per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 4,137 CAD
Estimated Weekly Salary: 955 CAD per week
Estimated Hourly Salary: 24 CAD per hour
Last revision of data: 2024-01-03
Estimated Yearly Salary: 51,329 USD
Estimated Monthly Salary: 4,277 USD
Estimated Weekly Salary: 987 USD per week
Estimated Hourly Salary: 25 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
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Estimated Yearly Salary: 51,539 CAD
Estimated Monthly Salary: 4,295 CAD
Estimated Weekly Salary: 991 CAD per week
Estimated Hourly Salary: 25 CAD per hour
By working as Loan Officer a person can save up to 2,159 USD per month or 25,908 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Canada, see costs of living in Canada.
Estimated Yearly Salary for Loan Officer
Last revision of data: 2025-01-04
Data as of 2025
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Loan Officer salary in Canada
Average Yearly Salary of Loan Officer in Canada is approximately 51,539 CAD (51,329 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.
What does Loan Officer do?

Skills: Loan officer, Credit analysis, Financial services, Customer service, Loan processing, Risk assessment
Job industry: Banking
Job industry: Banking
How much does Loan Officer make?
Salary details
How much does Loan Officer make?Estimated Yearly Salary: 51,539 CAD
Estimated Monthly Salary: 4,295 CAD
Estimated Weekly Salary: 991 CAD per week
Estimated Hourly Salary: 25 CAD per hour
Comparing salary to last year:
Estimated Yearly Salary: 49,645 CADEstimated Monthly Salary: 4,137 CAD
Estimated Weekly Salary: 955 CAD per week
Estimated Hourly Salary: 24 CAD per hour
Loan Officer estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 51,329 USD
Estimated Monthly Salary: 4,277 USD
Estimated Weekly Salary: 987 USD per week
Estimated Hourly Salary: 25 USD per hour
Difference in salary year over year or average salary increase is approximately
About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
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Salary comparison to National average
Canada is a vast country located in North America. It has a population of approximately 38 million people, making it the second-largest country by land area and the tenth-largest by population. With a total area of about 9.98 million square kilometers, Canada is known for its breathtaking landscapes, including mountains, forests, lakes, and coastlines.
Estimated national average yearly salary is 70,966 CAD (52,960 USD). Value indicated is pre-tax. Below graph shows estimated Loan Officer job salary compared to average salary in Canada.
Comparison shows that a person working as Loan Officer in Canada earns on average:
0.73 times the average salary (or 73% of average salary).
Estimated national average yearly salary is 70,966 CAD (52,960 USD). Value indicated is pre-tax. Below graph shows estimated Loan Officer job salary compared to average salary in Canada.
Comparison shows that a person working as Loan Officer in Canada earns on average:
0.73 times the average salary (or 73% of average salary).
Is Loan Officer a well paid job?
No, our data shows that Loan Officer is typically not a well-paid job. The salary varies based on experience. Meaning that even though Loan Officer might be a low paying job, with experience the salary might increase to satisfactory levels.What is considered a high salary for Loan Officer?
High salary for Loan Officer would be somewhere between 56,693 CAD and 74,732 CAD. However this is an estimation based on Gaussian Distribution.How much can you save working as Loan Officer in Canada?
Living in Canada the approximate monthly expenses are: 2,118 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.Estimated Yearly Salary: 51,539 CAD
Estimated Monthly Salary: 4,295 CAD
Estimated Weekly Salary: 991 CAD per week
Estimated Hourly Salary: 25 CAD per hour
By working as Loan Officer a person can save up to 2,159 USD per month or 25,908 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Canada, see costs of living in Canada.
Salary comparison to region and neighbouring coutries
Country's neighbours are: United States of America. To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).Estimated Yearly Salary for Loan Officer
Salary increase per years of experience
Based on data available the salary increase per years of experience is as following- 0 years (beginner) equals base salary
- 1 to 5 years of experience yields
- 6 to 10 years of experience yields
- 11 to 15 years of experience yields
- 16 to 25 years of experience yields
- more than 25 years of experience yields
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