The average salary for a loan officer in Illinois is around $81,620 per year.
Avg Salary
Loan officers earn an average yearly salary of $81,620.
Wages typically start from $33,870 and go up to $196,688.
50% above national average Updated in 2018
Loan officer earnings by seniority
90th percentile
Top-level loan officer earnings begin at:
$94.56 per hour
$196,688 per year
75th percentile
Senior-level loan officer earnings begin at:
$62.34 per hour
$129,669 per year
50th percentile
Mid-level loan officer earnings begin at:
$39.24 per hour
$81,620 per year
25th percentile
Junior-level loan officer earnings begin at:
$24.70 per hour
$51,376 per year
10th percentile
Starting level loan officer earnings begin at:
$16.28 per hour
$33,870 per year
Approximate values based on highest and lowest earning segments.
Loan officer salary by state
| State Name | Average Salary |
|---|---|
| Connecticut | $88,768 |
| Illinois | $81,620 |
| New York | $78,520 |
| New Hampshire | $76,430 |
| Nebraska | $75,800 |
| Kansas | $75,462 |
| District of Columbia | $74,840 |
| New Jersey | $73,180 |
| Minnesota | $72,030 |
| Massachusetts | $70,090 |
| Texas | $68,710 |
| Maryland | $68,060 |
| Missouri | $68,010 |
| Florida | $67,760 |
| North Dakota | $67,610 |
| Kentucky | $67,450 |
| Pennsylvania | $66,807 |
| Hawaii | $66,666 |
| Ohio | $64,770 |
| Oregon | $64,610 |
| Maine | $64,110 |
| Virginia | $63,860 |
| Wisconsin | $62,850 |
| North Carolina | $62,360 |
| Wyoming | $61,860 |
| Iowa | $61,518 |
| Oklahoma | $61,230 |
| Colorado | $61,010 |
| Nevada | $60,630 |
| Washington | $60,540 |
| Rhode Island | $60,460 |
| California | $60,420 |
| South Carolina | $60,250 |
| Delaware | $60,140 |
| Idaho | $59,677 |
| South Dakota | $59,520 |
| Vermont | $58,650 |
| Montana | $57,840 |
| Mississippi | $57,500 |
| Indiana | $57,023 |
| Alaska | $56,980 |
| Arkansas | $55,514 |
| Georgia | $54,690 |
| Tennessee | $54,490 |
| Alabama | $53,488 |
| Arizona | $52,696 |
| New Mexico | $51,460 |
| West Virginia | $48,820 |
| Louisiana | $48,230 |
| Guam | $45,840 |
| Utah | $45,470 |
| Puerto Rico | $29,150 |
How do loan officer salaries compare to similar careers?
Loan officers earn about the same as related careers in Illinois. On average, they make less than stock traders but more than financial analysts.
| Career | Median Salary |
|---|---|
| Stock trader salary | $92K |
| Securities and commodities broker salary | $92K |
| Actuary salary | $108K |
| Financial quantitative analyst salary | $93K |
| Risk management specialist salary | $90K |
| Loan officer salary | $82K |
| Investment banker salary | $89K |
| Fraud analyst salary | $87K |
| Business analyst salary | $80K |
| Financial analyst salary | $89K |
Source: CareerExplorer (Aggregated)