Banking Career Pay Ladder: Teller to Loan Officer to Financial Manager
Many bankers start at the teller line. The federal data shows that the first move off the line is the one that changes pay the most.
The pay ladder at a glance
| Occupation | U.S. jobs | 10th pct. | Median | 90th pct. | Typical entry education | Projected growth 2025–35 |
|---|---|---|---|---|---|---|
| Bank teller | 329,480 | $34,360 | $43,030 | $49,680 | High school diploma or equivalent | -13.2% |
| Loan officer | 274,330 | $39,430 | $76,690 | $153,180 | Bachelor's degree | +1.1% |
| Financial services sales agent | 489,570 | $48,040 | $78,660 | $212,880 | Bachelor's degree | +1.4% |
| Financial manager | 841,710 | $94,310 | $166,570 | $323,270 | Bachelor's degree | +9.7% |
Wages are May 2025 estimates from BLS Occupational Employment and Wage Statistics, May 2025; growth and education from BLS Employment Projections, 2025–35. The 10th and 90th percentiles show the range from entry-level or lower-paying employers to the most experienced or best-paid workers. For comparison, the median for all U.S. occupations was $50,980.
Teller to loan officer
Tellers earn a median of $43,030, and employment is projected to change by -13.2% from 2025 to 2035. Loan officers earn $76,690. The BLS Occupational Outlook Handbook says loan officers typically need a bachelor’s degree and on-the-job training, and mortgage loan officers must be licensed.
Sales and advisory roles
Securities, commodities and financial services sales agents earn $78,660. BLS says a bachelor’s degree is typical for entry and an MBA can help with advancement.
Into management
Financial managers, including branch managers at larger banks, earn $166,570. They typically need a bachelor’s degree and five or more years of experience in a related business or financial job.
Where loan officers earn the most
State medians for loan officers vary widely. The five highest-paying states in the May 2025 survey:
| State | Median annual wage | Employment |
|---|---|---|
| Massachusetts | $101,600 | 4,470 |
| Connecticut | $95,730 | 2,220 |
| New York | $95,710 | 10,840 |
| Minnesota | $95,170 | 6,430 |
| Colorado | $94,520 | 3,230 |
Raise tips for bank employees
- Ask about internal loan-officer training programs; many banks promote from branch staff.
- Know how incentive pay is figured before switching from salary to commission-based roles.
Published October 27, 2026. Sources are linked in the text.
Header image: original chart by JobPayRaise.com using BLS OEWS May 2025 data.
Comments (1)
If you're aiming for mortgage lending: federal SAFE Act rules require state-licensed mortgage loan originators to complete at least 20 hours of pre-licensing education approved by the Nationwide Multistate Licensing System (NMLS) and pass a qualified written test, along with background and credit checks. Bank-employed originators register through NMLS instead. Rule: 12 CFR 1008.105.