The average salary for a loan officer in Illinois is around $63,170 per year.
Avg Salary
Loan officers earn an average yearly salary of $63,170.
Wages typically start from $31,230 and go up to $129,270.
14% above national average Updated in 2021
Loan officer earnings by seniority
90th percentile
Top-level loan officer earnings begin at:
$62.15 per hour
$129,270 per year
75th percentile
Senior-level loan officer earnings begin at:
$48.38 per hour
$100,620 per year
50th percentile
Mid-level loan officer earnings begin at:
$30.37 per hour
$63,170 per year
25th percentile
Junior-level loan officer earnings begin at:
$22.94 per hour
$47,720 per year
10th percentile
Starting level loan officer earnings begin at:
$15.02 per hour
$31,230 per year
Approximate values based on highest and lowest earning segments.
Loan officer salary by state
| State Name | Average Salary |
|---|---|
| New York | $96,430 |
| District of Columbia | $81,170 |
| Massachusetts | $79,570 |
| New Jersey | $78,870 |
| Minnesota | $78,660 |
| Rhode Island | $78,640 |
| Nevada | $78,470 |
| Oregon | $78,300 |
| North Dakota | $77,060 |
| Colorado | $76,920 |
| Kansas | $76,920 |
| New Hampshire | $76,920 |
| Michigan | $76,840 |
| North Carolina | $76,840 |
| Virginia | $76,710 |
| Nebraska | $75,700 |
| Wisconsin | $74,890 |
| Missouri | $74,520 |
| Arkansas | $74,490 |
| Pennsylvania | $65,810 |
| California | $64,390 |
| South Dakota | $63,560 |
| Hawaii | $63,460 |
| Montana | $63,270 |
| Maine | $63,200 |
| Illinois | $63,170 |
| Iowa | $62,650 |
| Maryland | $62,610 |
| Washington | $62,530 |
| Kentucky | $62,320 |
| Ohio | $62,320 |
| Wyoming | $62,160 |
| Georgia | $62,100 |
| Connecticut | $61,850 |
| New Mexico | $61,170 |
| Texas | $61,120 |
| Tennessee | $60,800 |
| Indiana | $60,550 |
| Delaware | $60,140 |
| Florida | $60,110 |
| Oklahoma | $60,110 |
| Vermont | $60,110 |
| Alabama | $53,410 |
| South Carolina | $53,410 |
| Arizona | $52,530 |
| Idaho | $49,920 |
| Louisiana | $49,780 |
| Alaska | $49,620 |
| Utah | $48,300 |
| West Virginia | $48,000 |
| Mississippi | $44,480 |
| Guam | $38,630 |
| Puerto Rico | $30,080 |
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 market research analysts.
| Career | Median Salary |
|---|---|
| Stock trader salary | $72K |
| Credit analyst salary | $76K |
| Budget analyst salary | $81K |
| Cost estimator salary | $77K |
| Revenue agent salary | $68K |
| Loan officer salary | $63K |
| Accountant salary | $75K |
| Auditor salary | $75K |
| Underwriter salary | $60K |
| Market research analyst salary | $62K |
Source: CareerExplorer (Aggregated)