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Loan Officers

Wages & Outlook

 

Typical Wages   This career pays well above the median wage.

Wages listed below are for a variety of experience and education levels. Make sure that you research the typical entry-level education and work experience and training requirements for this occupation.

This career: $38.95
Statewide median: $23.81

 

This is a very high-wage career. It pays well above the statewide median wage.


Wages for Loan Officers *

Area Low Median High
U S
$23.51 $31.38 $48.59
Minnesota
$29.88 $38.95 $51.11
Central Minnesota
$23.30 $31.35 $49.02
Northeast Minnesota
$24.18 $30.61 $47.72
Northwest Minnesota
$29.68 $37.82 $49.04
Southeast Minnesota
$29.82 $37.91 $49.98
Southwest Minnesota
$28.99 $37.92 $49.52
Seven County Mpls-St Paul, MN
$30.55 $39.47 $53.86

* "Low" indicates 25% of workers earn less and 75% earn more.
"Median" indicates 50% of workers earn less and 50% earn more.
"High" indicates 75% of workers earn less and 25% earn more.

See more wage detail.

 

Employment

In Minnesota, there are 7,520 workers employed in this medium-sized career.

Where do Loan Officers most often work?

 

Current Demand

No data available.

 

Future Demand

This career is seeing low growth compared to other careers.

There will be a need for about 6,834 new Loan Officers to meet market demand between 2020-2030. This includes the demand due to replacement (workers leaving the occupation or retiring) as well as growth.

 

Employment Outlook for Loan Officers
Area Employment Employment Change
2020 2030 Number Percent
U S 322,100 326,400 4,300 1.3%
Minnesota 8,646 8,843 197 2.3%
Central Minnesota 709 747 38 5.4%
Northeast Minnesota 349 379 30 8.6%
Northwest Minnesota 631 676 45 7.1%
Southeast Minnesota 655 688 33 5%
Southwest Minnesota 621 656 35 5.6%
Seven County Mpls-St Paul, MN 5,583 5,636 53 0.9%


Source: You can learn about our data sources in the About Us section.




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