Loan Officer Salary in Illinois
Based on 11K+ workers in Illinois
Median Annual Salary (IL)
$79,150
$38.05/hr
vs National Average
$76,354
+3.7% vs national median
Salary Range (10th–90th)
$43K – $137K
11K employed in Illinois
The median loan officer salary in Illinois is $79,150 per year, positioning the state slightly above the national average at 4% higher. With approximately 10,890 loan officers employed across Illinois, the profession represents a stable career path in the state's financial services sector. Salaries in this field range from $43,020 to $137,080 annually, reflecting considerable variation based on individual circumstances.
Several factors influence how much a loan officer earns in Illinois, including experience level, employer type, and geographic location within the state. Larger financial institutions in major metropolitan areas typically offer higher compensation packages than smaller regional banks or credit unions. Educational background, professional certifications, and individual sales performance also play significant roles in determining earnings potential for loan officers in the state.
Salary Distribution — Loan Officer in Illinois
| Percentile | Annual Salary |
|---|---|
| 10th percentile | $43,020 |
| 25th percentile | $60,520 |
| Median (50th percentile) | $79,150 |
| 75th percentile | $104,560 |
| 90th percentile | $137,080 |
Top-Paying Industries for Loan Officer (U.S.)
Which industries pay Loan Officers the most — nationwide figures (industry-level data is not available by state). Loan Officers in Illinois tend to follow these industry patterns.
| Industry (U.S.) | Median Salary | Employed (U.S.) |
|---|---|---|
| Retail Trade | $103,260 | 12K |
| Real Estate and Rental and Leasing | $84,090 | 3K |
| Government (excl. schools, hospitals & USPS) | $81,330 | 6K |
| Management of Companies and Enterprises | $79,570 | 12K |
| Other Services (except Public Administration) | $77,140 | 560 |
Source: U.S. BLS OEWS National Industry-Specific estimates, May 2025. National figures (not state-specific).
Historical Salary Trend — Loan Officer in Illinois vs National
| Year | Median Salary (Illinois) |
|---|---|
| 2022 | $75,990 |
| 2023 | $75,250 |
| 2024 | $75,960 |
| 2025 | $79,150 |
| 2026 (projected) | $82,474 |
The latest year is a projection based on recent wage trends — BLS has not yet released that year’s data.
| Year | Illinois Median | National Median |
|---|---|---|
| 2022 | $75,990 | $68,453 |
| 2023 | $75,250 | $70,692 |
| 2024 | $75,960 | $73,485 |
| 2025 | $79,150 | $76,354 |
| 2026 (projected) | $82,474 | $79,561 |
Loan Officer Salary by Experience Level in Illinois
| Experience Level | Years | Median Annual Salary |
|---|---|---|
| Junior | 0-2 yrs | $60,520 |
| Mid-level | 3-5 yrs | $79,150 |
| Senior | 6-9 yrs | $104,560 |
| Staff / Lead | 10+ yrs | $137,080 |
Loan Officer Salary in Other States
Related Loan Officer Salaries in Illinois
How other high-demand occupations in Illinois compare to Loan Officer ($79,150 median).
| Occupation | Median Salary | vs Loan Officer | Hourly |
|---|---|---|---|
| Financial Manager in IL | $165,880 | +109.6% | $79.75/hr |
| Personal Financial Advisor in IL | $120,130 | +51.8% | $57.75/hr |
| Actuary in IL | $115,430 | +45.8% | $55.50/hr |
| Financial Analyst in IL | $101,180 | +27.8% | $48.64/hr |
| Securities Sales Agent in IL | $99,840 | +26.1% | $48.00/hr |
| Budget Analyst in IL | $94,880 | +19.9% | $45.62/hr |
| Financial Examiner in IL | $93,150 | +17.7% | $44.78/hr |
| Credit Analyst in IL | $84,990 | +7.4% | $40.86/hr |
| Tax Examiner in IL | $81,180 | +2.6% | $39.03/hr |
| Compliance Officer in IL | $80,550 | +1.8% | $38.73/hr |
| Accountant in IL | $80,230 | +1.4% | $38.57/hr |
| Insurance Sales Agent in IL | $64,280 | -18.8% | $30.90/hr |
Frequently Asked Questions
How much do loan officers make in Illinois?
- Loan officers in Illinois earn a median salary of $79,150 per year, or $38 per hour. This is 3.7% higher than the national average for this position.
What is the salary range for loan officers in Illinois?
- Loan officer salaries in Illinois range from $43,020 at the lower end to $137,080 at the higher end, depending on experience, employer, and individual performance.
How many loan officers are employed in Illinois?
- There are currently 10,890 loan officers employed in Illinois, making it a substantial employment sector in the state.
Is the loan officer salary in Illinois above the national average?
- Yes, Illinois loan officers earn 3.7% more than the national average, with a median salary of $79,150 compared to lower national figures.