The average salary for a loan officer in Minnesota is around $95,170 per year.
Avg Salary
Loan officers earn an average yearly salary of $95,170.
Wages typically start from $57,670 and go up to $163,350.
40% above national average Updated in 2025
Loan officer earnings by seniority
90th percentile
Top-level loan officer earnings begin at:
$78.53 per hour
$163,350 per year
75th percentile
Senior-level loan officer earnings begin at:
$60.36 per hour
$125,550 per year
50th percentile
Mid-level loan officer earnings begin at:
$45.76 per hour
$95,170 per year
25th percentile
Junior-level loan officer earnings begin at:
$35.21 per hour
$73,240 per year
10th percentile
Starting level loan officer earnings begin at:
$27.73 per hour
$57,670 per year
Approximate values based on highest and lowest earning segments.
Loan officer salary by state
| State Name | Average Salary |
|---|---|
| Connecticut | $95,730 |
| New York | $95,710 |
| Minnesota | $95,170 |
| Colorado | $94,520 |
| Oregon | $94,440 |
| New Jersey | $92,920 |
| District of Columbia | $92,890 |
| Vermont | $88,710 |
| Kansas | $86,970 |
| North Dakota | $84,650 |
| Iowa | $83,670 |
| Delaware | $83,130 |
| Maine | $81,900 |
| California | $81,770 |
| New Hampshire | $80,660 |
| Washington | $80,120 |
| South Dakota | $79,920 |
| Nebraska | $79,840 |
| Wyoming | $79,620 |
| Illinois | $79,150 |
| Virginia | $78,320 |
| Wisconsin | $78,290 |
| Rhode Island | $77,250 |
| Ohio | $76,370 |
| North Carolina | $75,920 |
| Michigan | $74,470 |
| Missouri | $73,660 |
| Maryland | $73,580 |
| Oklahoma | $72,990 |
| Indiana | $72,960 |
| Alaska | $72,800 |
| Montana | $71,570 |
| Florida | $71,090 |
| Idaho | $71,070 |
| Arkansas | $70,260 |
| Pennsylvania | $69,300 |
| Georgia | $68,490 |
| Alabama | $66,710 |
| Texas | $66,370 |
| Nevada | $64,500 |
| Hawaii | $63,740 |
| South Carolina | $63,220 |
| Tennessee | $62,800 |
| New Mexico | $62,610 |
| Arizona | $62,160 |
| Kentucky | $62,090 |
| Louisiana | $61,110 |
| Mississippi | $60,260 |
| Utah | $59,440 |
| West Virginia | $57,580 |
| Guam | $45,840 |
| Puerto Rico | $29,150 |
| Massachusetts | $101,600 |
How do loan officer salaries compare to similar careers?
Loan officers earn 6% less than similar careers in Minnesota. On average, they make less than actuaries but more than accountants.
| Career | Median Salary |
|---|---|
| Actuary salary | $128K |
| Stock trader salary | $83K |
| Securities and commodities broker salary | $83K |
| Financial analyst salary | $103K |
| Business analyst salary | $101K |
| Loan officer salary | $95K |
| Operations research analyst salary | $96K |
| Budget analyst salary | $86K |
| Auditor salary | $82K |
| Accountant salary | $82K |
Source: CareerExplorer (Aggregated)