Commercial Loan Officer Salary in Canada

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  2. > Salary
  3. > Commercial Loan Officer
  4. > Canada

Last Updated: July 15, 2026

$136,109 USD

per year
Hourly Rate $65.44
Bonus $6,166

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Entry Level $94K
Average $136K
Senior Level $166K

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The average pay for a Commercial Loan Officer is $136,109, which is $65.44 an hour in Canada. The average salary range for a Commercial Loan Officer is between $93,915 and $166,053. On average, a Bachelor's is the highest level of education for a Commercial Loan Officer.

This compensation analysis comes from aggregated salary survey data for Canada. ERI's compensation information is based on employer-reported data collected from ERI's salary surveys, customer HRIS data, data from Proxies/10Ks and Forms 990, proprietary databases, and purchased survey data. Cost-of-labor data in the Assessor Series are based on actual housing sales data from commercially available sources, plus rental rates, gasoline prices, consumables, medical care premium costs, property taxes, effective income tax rates, etc. For more information, see ERI's methodology.

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Salary Potential for Commercial Loan Officer

Explore the estimated salary growth for Commercial Loan Officer in Canada for up to 5 years. The estimated salary of Commercial Loan Officer in 1 year will be $139,593, and in 5 years, will be $154,443.

Number of Years

2 Years

Estimated Salary

$143,166 USD

Percentage Growth

0%

Growth Trajectory

The estimated salary growth for Commercial Loan Officer in [# of years] is [salary], which is [average growth %] average growth. This information is based on ERI's compensation database.

What Does a Commercial Loan Officer Do?

Interviews applicants and studies, evaluates, and authorizes or recommends approval of customer applications for secured or unsecured commercial loans and lines of credit.

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Education, Skills, and Certifications for Commercial Loan Officers

Gain access to salary differentials for education and skills in ERI's Salary Assessor

Education

Below is the average education level for a Commercial Loan Officer. About 58% have a Bachelor's degree, 31% have a Master's degree, and 8% have a High School Diploma.

  • Bachelor's Degree 58%
  • Master's Degree 31%
  • High School Diploma 8%
  • Associate Degree 2%
  • Doctorate Degree 0%
  • Less Than HS 0%

Top Skills

Below are top skills for a Commercial Loan Officer. 57% of Commercial Loan Officers have a skill in Gives approval. The top 3 most popular skills for Commercial Loan Officers are Gives approval, Interviews applicants, and Examines information.

  • Gives approval 57%
  • Interviews applicants 57%
  • Examines information 43%

Do you have certifications for Commercial Loan Officer?

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Compare Commercial Loan Officer Salaries by Location

See how Commercial Loan Officer salaries vary by region and find the best location for your career.

Average Salaries for Commercial Loan Officer

The average salary of commercial loan officer in Canada is $136,109. The average salary of commercial loan officer in California is $150,790. The average salary of commercial loan officer in United States is $133,152. Explore the average salaries for commercial loan officer in other locations below.

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Cost of Living in Canada

The cost of living in Canada is 0% equal to than the national average.

Whether you're planning to move or just want to see the cost of living in different locations, our cost-of-living calculator is the place to start. Compare salaries for other locations by city, U.S. ZIP code, state, or country.

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Why Your Salary May Look Different

This information is based on a specific job title and location, but real-world compensation can vary based on factors like years of experience, company size, shift differentials, and more. Because of these variables, your actual pay may fall above or below the average ranges shown. Use ERI's salary data and compensation management platform to identify market trends and accurately adjust pay so that you can price jobs competitively.

Based on the average salary in the United States, if your shift differential is 10%, then your pay will increase by $6.54/hour

*Some jobs may not be adjusted using shift differentials. Please contact [email protected] for additional information.

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Frequently Asked Questions

Common questions about Commercial Loan Officer salaries and career insights

How much does a Commercial Loan Officer make in Canada?

ERI's data indicated that, on average, a Commercial Loan Officer is $136,109 per year or $65.44 per hour in Canada, which is 1% lower than the national average. Top earners have reported making up to $166,053. However, the typical pay range in Canada, is between $93,915 and $166,053 annually.

What is the salary potential for Commercial Loan Officer in 5 years?

Commercial Loan Officer is projected to see 13.5% salary growth in 5 years.

What are some factors that impact Commercial Loan Officer salaries?

Several factors can impact the salary, including experience, company size, job market, location, industry, and more. Understanding how these factors affect the role can provide opportunities to earn more. Use our salary calculator to find out how much you should be paid based on what someone in your area, with similar experience, earns.

How can I accurately price jobs for my organization?

There are several factors that can impact the salary, including experience, company size, job market, location, industry, education, certificates, shift differentials, and more. Understanding how these factors affect the role can help you spot pay gaps and retain top talent. ERI's Assessor Platform brings these factors together in one platform, making it easy to benchmark roles, analyze insights, and set pay with confidence.

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With decades of experience in compensation, ERI offers an extensive and reliable salary survey database powered by the Assessor Platform, a comprehensive compensation management solution that optimizes complex processes for accuracy and efficiency.

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ERI's team of PhD-level data scientists and seasoned compensation professionals review and validate our salary data approximately every six weeks, ensuring the accuracy of the data that we publish. Learn more about our methodology.

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About Our Data

This page is an excerpt of the much more complete compensation information available in ERI's Assessor Series.

For over 35 years, ERI has compiled the most robust and accurate salary, cost-of-living, and executive compensation survey database available. Data are analyzed using AI and traditional statistics, depending on which approach is best for a particular application. ERI collects salary survey data from five different sources, which you can learn about here.

Verified Sources

Data sourced from internal salary surveys, purchased surveys, public sources, HRIS data, and proprietary databases.

Real-Time Data

Our salary database is updated and verified approximately every six weeks.

Quality Assurance

Along with our data scientists, we have included AI in our rigorous process to analyze and provide the highest quality data.

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Locations

35,900+

Job Titles

4,400+

Skills

5,500+

Certifications

1,100+

Industries

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