Loan Officers Pay Range in Illinois
Pay distribution across experience levels
- 10th Percentile — Entry Level$43,020
- 25th Percentile — Junior$60,520
- 50th Percentile — Median$79,150
- 75th Percentile — Senior$104,560
- 90th Percentile — Top Earners$137,080
Half of Loan Officers in Illinois earn more than $79,150. The top 10% make $137,080 or more, while entry-level workers start around $43,020.
Loan Officers in Illinois: Key Facts
Source: BLS OEWS May 2025
- Illinois ranks 20th of 51 states for Loan Officers pay, at $89,350 per year (1.8% above the U.S. average of $87,790).
- 10,890 people work as Loan Officers in Illinois — 4.0% of all U.S. Loan Officers jobs.
- Location quotient 1.01: Loan Officers jobs are more concentrated in Illinois than in the U.S. overall.
- Pay range: the lowest-paid 10% earn under $43,020; the top 10% earn over $137,080.
- Hourly equivalent: $42.96 per hour (2,080 hours/year).
- The highest-paying state is Massachusetts at $118,390.
- Among business jobs in Illinois, Personal Financial Advisors pays the most ($158,450).
Loan Officers Job Market in Illinois
Key factors affecting compensation
Illinois's key industries are Finance, Manufacturing, Agriculture, and its job market is rated strong. Loan Officers here earn $89,350 on average, placing the state 20th nationally.
With a cost-of-living index of 1.05 (U.S. = 1.00), a Illinois salary of $89,350 is roughly equivalent to $85,095 at the national average cost of living.
Compared with nearby states in the pay ranking, North Dakota ($91,760), Idaho ($90,160), Virginia ($90,090) are the closest alternatives for Loan Officers weighing a move.
U.S. Bureau of Labor Statistics · Occupational Employment and Wage Statistics (OES) · May 2025
Other Business Jobs in Illinois
Related career salary benchmarks
- Personal Financial Advisors $158,450/yr Illinois +77.3% vs this role
- Management Analysts $114,410/yr Illinois +28.0% vs this role
- Project Management Specialists $111,230/yr Illinois +24.5% vs this role
- Financial and Investment Analysts $110,820/yr Illinois +24.0% vs this role
- Financial Examiners $106,400/yr Illinois +19.1% vs this role
- Credit Analysts $103,060/yr Illinois +15.3% vs this role
- Budget Analysts $94,430/yr Illinois +5.7% vs this role
- Business Operations Specialists All Other $89,910/yr Illinois +0.6% vs this role
Frequently Asked Questions
Common questions about this salary
What is the average Loan Officers salary in Illinois?
The average Loan Officers salary in Illinois is $89,350 per year (median $79,150), which is 1.8% above the national average of $87,790.
How does Illinois rank for Loan Officers pay?
Illinois ranks 20th out of 51 states. The highest-paying state is Massachusetts ($118,390/yr).
How much do entry-level Loan Officers make in Illinois?
The lowest-paid 10% of Loan Officers in Illinois earn about $43,020 per year and the 25th percentile is $60,520.
How much do Loan Officers make per hour in Illinois?
About $42.96 per hour, based on the $89,350 annual average and 2,080 working hours per year.
How many Loan Officers work in Illinois?
BLS counts 10,890 Loan Officers jobs in Illinois (OEWS May 2025).
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