Mortgage Broker Salary In California
In this article, we’ll look at the average salary for a mortgage broker in California. We’ll also discuss how much a mortgage broker makes in other parts of the country and why you might want to become a mortgage broker.
How Much Do Mortgage Brokers Earn?
According to the Bureau of Labor Statistics, the average annual salary for a mortgage broker in California was $54,810 as of May 2014. This is higher than the national median annual salary of $40,170 for this job. However, it’s important to note that these figures represent only those mortgage brokers who were employed full-time and year-round; they do not include part-time or seasonal employees.
Mortgage Broker Salary In California
As of Jun 15, 2022, the average annual pay for the Mortgage Broker jobs category in California is $127,921 a year. Just in case you need a simple salary calculator, that works out to be approximately $61.50 an hour. This is the equivalent of $2,460/week or $10,660/month.
While ZipRecruiter is seeing salaries as high as $300,465 and as low as $38,241, the majority of salaries within the Mortgage Broker jobs category currently range between $72,508 (25th percentile) to $198,654 (75th percentile) with top earners (90th percentile) making $253,283 annually in California.
The average pay range for a Mortgage Broker job varies greatly (as much as $126,146), which suggests there may be many opportunities for advancement and increased pay based on skill level, location and years of experience.
Based on recent job posting activity on ZipRecruiter, the Mortgage Broker job market in California is not very active as few companies are currently hiring.
California ranks number 20 out of 50 states nationwide for Mortgage Broker job salaries.
To estimate the most accurate annual salary range for Mortgage Broker jobs, ZipRecruiter continuously scans its database of millions of active jobs published locally throughout America.
Find your next high paying job within the Mortgage Broker category on ZipRecruiter today.
What are Top 10 Highest Paying Cities for Mortgage Broker Jobs in California
We’ve identified 10 cities where the typical salary for a Mortgage Broker job is above the average in California. Topping the list is Sunnyvale, with Santa Rosa and Vacaville close behind in second and third. Vacaville beats the California average by 24.3%, and Sunnyvale furthers that trend with another $45,124 (35.3%) above the $127,921.
With these 10 cities paying on average above the average for California, the opportunities for economic advancement by changing locations in the Mortgage Broker jobs category appears to be exceedingly fruitful.
Finally, another factor to consider is the average salary for these top 10 cities varies very little at 12% between Sunnyvale and Roseville, reinforcing the limited potential for much wage advancement. The possibility of a lower cost of living may be the best factor to use when considering location and salary for a Mortgage Broker role.
| City | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
|---|---|---|---|---|
| Sunnyvale | $173,046 | $14,420 | $3,328 | $83.20 |
| Santa Rosa | $168,457 | $14,038 | $3,240 | $80.99 |
| Vacaville | $159,024 | $13,252 | $3,058 | $76.45 |
| Long Beach | $156,942 | $13,079 | $3,018 | $75.45 |
| Fairfield | $156,870 | $13,072 | $3,017 | $75.42 |
| Costa Mesa | $156,043 | $13,004 | $3,001 | $75.02 |
| San Mateo | $155,457 | $12,955 | $2,990 | $74.74 |
| Oceanside | $154,663 | $12,889 | $2,974 | $74.36 |
| Riverside | $152,704 | $12,725 | $2,937 | $73.42 |
| Roseville | $152,331 | $12,694 | $2,929 | $73.24 |
What are Top 5 Best Paying Related Mortgage Broker Jobs in California
Analyzing some similar jobs related to the Mortgage Broker job category in California, we found that Commercial Mortgage Broker jobs have average salaries greater than Mortgage Broker jobs.
However, Commercial Mortgage Broker salaries only average 0.0% ($62) more than the average Mortgage Broker salary of $127,921. If you’re qualified, finding work in the Commercial Mortgage Broker jobs category may give you a small lift versus the average Mortgage Broker position.
| Job Title | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
|---|---|---|---|---|
| Commercial Mortgage Broker | $127,983 | $10,665 | $2,461 | $61.53 |
| Mortgage Sales Manager | $122,536 | $10,211 | $2,356 | $58.91 |
| Residential Mortgage Loan Officer | $118,531 | $9,878 | $2,279 | $56.99 |
| Mortgage Advisor | $107,305 | $8,942 | $2,064 | $51.59 |
| Senior Mortgage Banker | $106,451 | $8,871 | $2,047 | $51.18 |
