Hiring a loan officer in Denver, CO

Do Denver residents in business and financial operations work earn more than employers in the Denver-Aurora-Centennial, CO area pay?

Denver residents working in business and financial operations occupations earn a median of $87,149 (Census ACS 5-year 2023, tables S2401 and B24011), against $92,560 as the median of the 29 wages BLS publishes for that same occupation group in the Denver-Aurora-Centennial, CO area (BLS OEWS, May 2025), a difference of 6%, with the employers figure the higher of the two.

Both sides of that figure describe the whole business and financial operations group, not this one role. In the Denver-Aurora-Centennial, CO area the group covers 29 occupations BLS publishes a wage for, from credit counselors at $58,710 to agents and business managers of artists, performers, and athletes at $123,950 (BLS OEWS, May 2025), with loan officers at $100,130 inside it.

That comparison is between two different measures, not a pay gap. The two weight the same occupation group differently: the Census figure is the midpoint across the people who actually hold those jobs, so a group carrying a few very well paid occupations is pulled toward them, while the BLS figure is the midpoint across the 29 published occupation wages, which counts each of those occupations once whatever its headcount. Census also counts where people live and BLS counts where the jobs are, and the two cover different populations, Census the civilian employed population 16 and over, BLS wage-and-salary jobs only. Read the number against other cities, where the same definitional difference applies on both sides, rather than as a shortfall.

The two sit within 10% of each other, so residents of Denver and employers across the metro are priced about the same in this field, and pay alone is unlikely to be what wins or loses this hire.

Is the talent actually in Denver?

This is a job zone four: considerable preparation needed occupation. Most of these occupations require a four-year bachelor's degree, but some do not. O*NET OnLine, SOC 13-2072.

That matters here, because 55.6% of Denver adults hold a bachelor's degree or higher. That is a deep local pool for a degree-requiring role. Census ACS 5-year 2023, table S1501, residents of Denver aged 25 and over.

The average Denver commute runs 25.4 minutes, which is roughly how far your catchment reaches before candidates start saying no. 24.4% of Denver workers already work from home, so a fully onsite requirement here is competing against that. Census ACS 5-year 2023, place-level commuting characteristics for Denver.

How often do these jobs turn over?

In Denver County, accounting, tax preparation, bookkeeping and payroll services employs 10,201 and turns over 8.1% a quarter, with 1,337 hires against 991 separations. Average earnings in that industry run $10,223 a month. Census LEHD Quarterly Workforce Indicators, 2024 Q1, NAICS 5412.

That figure covers every occupation in the industry, not this role alone, so read it as the local churn rate rather than as a number about loan officers. It still tells you what you are hiring into: a normal churn rate, where a well-run search closes on schedule.

What does the search cost?

The fee is set by the seniority of the role, never by salary and never by location. Across all six tiers it runs $6,240 to $54,340 per search. A contingency firm hiring at this role's $100,130 median in the Denver-Aurora-Centennial, CO area (BLS OEWS, May 2025) would bill roughly $20,026 to $30,039 on the first year salary alone.

One owner runs the search from market map to signed offer. Searches typically fill in 23 to 35 days, which is a typical window rather than a promise, and the replacement guarantee runs 45 days at 50% off.

Questions employers ask about hiring a loan officer in Denver

What does it cost to hire a loan officer in Denver?

Tier I to Tier VI, $6,240 to $54,340 per search, set by the seniority of the role and never by salary or location. A contingency firm billing 20 to 30% of this role's $100,130 median wage in the Denver-Aurora-Centennial, CO area (BLS OEWS, May 2025) would charge roughly $20,026 to $30,039 on the first year salary alone.

What should an offer for a loan officer in Denver look like?

Employers in the Denver-Aurora-Centennial, CO area pay loan officers a median of $100,130, with the middle half of the market between $62,300 and $128,110 (BLS OEWS, May 2025). A band set below $62,300 competes for the bottom quarter of that market.

Do Denver residents in business and financial operations work earn more than employers in the Denver-Aurora-Centennial, CO area pay?

Denver residents working in business and financial operations occupations earn a median of $87,149 (Census ACS 5-year 2023, tables S2401 and B24011), against $92,560 as the median of the 29 wages BLS publishes for that same occupation group in the Denver-Aurora-Centennial, CO area (BLS OEWS, May 2025), a difference of 6%. Both figures cover the whole occupation group rather than this one role, and one counts where people live while the other counts where the jobs are, so the percentage is not a pay gap.

Is the talent for this role already in Denver?

This is a job zone 4 occupation, which usually calls for a bachelor's degree, and 55.6% of Denver adults hold one or higher (Census ACS 5-year 2023, table S1501). That is a deep local pool for a degree-requiring role.

Related

• Hiring Loan Officers: the role, the pay, the process
• Recruiting services in Denver
• Every Colorado city we cover

Denver is the largest of 3 Colorado cities in this dataset.