The average salary for a loan officer in Minnesota is around $72,030 per year.
Avg Salary
Loan officers earn an average yearly salary of $72,030.
Wages typically start from $42,240 and go up to $127,050.
13% above national average Updated in 2018
Loan officer earnings by seniority
90th percentile
Top-level loan officer earnings begin at:
$61.08 per hour
$127,050 per year
75th percentile
Senior-level loan officer earnings begin at:
$47.59 per hour
$99,000 per year
50th percentile
Mid-level loan officer earnings begin at:
$34.63 per hour
$72,030 per year
25th percentile
Junior-level loan officer earnings begin at:
$25.57 per hour
$53,190 per year
10th percentile
Starting level loan officer earnings begin at:
$20.31 per hour
$42,240 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 Minnesota. On average, they make less than financial analysts but more than fraud analysts.
| Career | Median Salary |
|---|---|
| Financial analyst salary | $86K |
| Operations research analyst salary | $84K |
| Business analyst salary | $78K |
| Credit analyst salary | $74K |
| Budget analyst salary | $76K |
| Loan officer salary | $72K |
| Risk management specialist salary | $65K |
| Investment banker salary | $65K |
| Financial quantitative analyst salary | $65K |
| Fraud analyst salary | $65K |
Source: CareerExplorer (Aggregated)