Loan Officer salary in Illinois
Loan Officers in Illinois earn a median of $79,150 a year ($38.05 an hour), based on BLS data for 10,890 workers.
Pay ranges from $43,020 for the lowest-paid 10% to $137,080 for the top 10%. That is 3% higher than the national median of $76,690. Illinois ranks 21st of 51 states for loan officers pay. There are 1.8 loan officers per 1,000 jobs here — close to the national average. The average (mean) salary is $89,350, above the median because a few high earners pull it up.
Pay range for loan officers in Illinois
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $43,020 | $20.69 |
| 25th percentile | $60,520 | $29.10 |
| Median | $79,150 | $38.05 |
| 75th percentile | $104,560 | $50.27 |
| 90th percentile (top earners) | $137,080 | $65.90 |
| Average (mean) | $89,350 | $42.96 |
Half of loan officers earn more than the median and half earn less. Percentiles show the spread: 10% earn less than the 10th percentile, and 10% earn more than the 90th.
Median paycheck, before taxes
| Pay period | Amount |
|---|---|
| Monthly | $6,595.83 |
| Semi-monthly (24 a year) | $3,297.92 |
| Biweekly (26 a year) | $3,044.23 |
| Weekly | $1,522.12 |
| Hourly | $38.05 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Loan Officer salary in cities in Illinois
| Metro area | Median salary | Workers |
|---|---|---|
| Chicago-Naperville-Elgin, IL-IN | $80,040 | 7,380 |
| Champaign-Urbana, IL | $78,950 | 210 |
| Springfield, IL | $78,600 | 190 |
| Cape Girardeau, MO-IL | $76,400 | 70 |
| Rockford, IL | $75,880 | 90 |
| Davenport-Moline-Rock Island, IA-IL | $75,380 | 350 |
| Decatur, IL | $75,190 | 90 |
| Peoria, IL | $74,530 | 270 |
| St. Louis, MO-IL | $74,510 | 2,690 |
| Bloomington, IL | $67,140 | 160 |
| Kankakee, IL | $62,570 | 80 |
| Paducah, KY-IL | $60,080 | 90 |
Highest-paying states for loan officers
| State | Median salary |
|---|---|
| Massachusetts | $101,600 |
| 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 |
Related jobs in Illinois
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $80,230 | $38.57 |
| Financial and Investment Analysts | $101,180 | $48.65 |
| Personal Financial Advisor | $120,130 | $57.75 |
| Financial Specialists, All Other | $81,180 | $39.03 |
| Financial Examiner | $93,150 | $44.78 |
| Credit Analyst | $84,990 | $40.86 |
| Financial Risk Specialist | $104,300 | $50.14 |
| Property Appraisers and Assessors | $60,150 | $28.92 |
| Tax Examiners and Collectors, and Revenue Agents | $80,720 | $38.81 |
| Tax Preparer | $54,480 | $26.19 |
| Credit Counselor | $51,930 | $24.96 |
| Budget Analyst | $94,880 | $45.61 |
| Insurance Underwriter | $89,620 | $43.09 |
| Management Analyst | $104,270 | $50.13 |
More: Business and Financial Operations Occupations · all salaries in Illinois
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 estimates, occupation code 13-2072. Wages include base pay, tips, commissions and shift pay, but not overtime, bonuses or benefits, and exclude the self-employed.
Frequently asked questions
How much does a loan officer make in Illinois?
The median salary for loan officers in Illinois is $79,150 a year, or $38.05 an hour. Pay ranges from $43,020 for the lowest-paid 10% to $137,080 for the top 10%.
How much do the highest-paid loan officers make in Illinois?
The top 10% of loan officers in Illinois earn at least $137,080 a year. The top 25% earn $104,560 or more.
What is the starting pay for loan officers in Illinois?
Entry-level pay (the 10th percentile) is about $43,020 a year, and a quarter of loan officers earn $60,520 or less.
How many loan officers work in Illinois?
About 10,890 loan officers are employed in Illinois, not counting the self-employed.