Start a new search

Loan Officers

Wages & Outlook

Typical Wages

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: $38.66
Statewide median: $24.25

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	$23.48	$32.23	$48.64
Minnesota	$29.11	$38.66	$51.30
Central Minnesota	$29.08	$38.42	$55.59
Northeast Minnesota	$23.55	$30.99	$46.88
Northwest Minnesota	$24.78	$36.45	$47.85
Southeast Minnesota	$29.10	$38.20	$50.52
Southwest Minnesota	$29.17	$38.20	$50.83
Seven County Mpls-St Paul, MN	$29.93	$39.57	$53.10

* "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 8,020 workers employed in this medium-sized career.

Where do Loan Officers most often work?

Current Demand

This career is currently in very high demand.

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
Area	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.