Loan Officer salary in Monroe, MI
Loan Officers in the Monroe, MI metro area earn a median of $56,450 a year ($27.14 an hour), based on BLS data for 30 workers.
Pay ranges from $26,690 for the lowest-paid 10% to $133,120 for the top 10%. That is 26% lower than the national median of $76,690. Pay here is 24% lower than the Michigan statewide median of $74,470. There are 0.82 loan officers per 1,000 jobs here — the job is less common than nationally (location quotient 0.46). The average (mean) salary is $71,060, above the median because a few high earners pull it up.
Pay range for loan officers in Monroe, MI
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $26,690 | $12.83 |
| 25th percentile | $39,300 | $18.90 |
| Median | $56,450 | $27.14 |
| 75th percentile | $96,450 | $46.37 |
| 90th percentile (top earners) | $133,120 | $64.00 |
| Average (mean) | $71,060 | $34.16 |
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 | $4,704.17 |
| Semi-monthly (24 a year) | $2,352.08 |
| Biweekly (26 a year) | $2,171.15 |
| Weekly | $1,085.58 |
| Hourly | $27.14 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Loan Officer salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Ann Arbor, MI | $77,820 | 320 |
| Detroit-Warren-Dearborn, MI | $76,260 | 7,200 |
| Lansing-East Lansing, MI | $72,890 | 420 |
| Kalamazoo-Portage, MI | $72,330 | 140 |
| Grand Rapids-Wyoming-Kentwood, MI | $71,760 | 790 |
| Midland, MI | $66,880 | 60 |
| Flint, MI | $65,050 | 230 |
| Niles, MI | $64,250 | 130 |
| Traverse City, MI | $63,820 | 130 |
| South Bend-Mishawaka, IN-MI | $63,130 | 160 |
| Saginaw, MI | $62,740 | 140 |
| Muskegon-Norton Shores, MI | $62,190 | 60 |
| Jackson, MI | $60,540 | 110 |
| Battle Creek, MI | $59,640 | 70 |
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 |
See Loan Officer pay in every state or the Michigan statewide figures.
Related jobs in Monroe, MI
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $76,080 | $36.58 |
| Personal Financial Advisor | $98,090 | $47.16 |
| Financial and Investment Analysts | $102,320 | $49.19 |
| Human Resources Specialist | $71,990 | $34.61 |
| Buyers and Purchasing Agents | $66,890 | $32.16 |
| Market Research Analysts and Marketing Specialists | $64,500 | $31.01 |
| Project Management Specialist | $100,290 | $48.22 |
| Business Operations Specialists, All Other | $81,740 | $39.30 |
| Cost Estimator | $72,970 | $35.08 |
| Management Analyst | $96,040 | $46.17 |
| Compliance Officer | $74,000 | $35.58 |
| Logistician | $78,890 | $37.93 |
More: Business and Financial Operations Occupations · all salaries in Monroe, MI
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 Monroe, MI?
The median salary for loan officers in the Monroe, MI metro area is $56,450 a year, or $27.14 an hour. Pay ranges from $26,690 for the lowest-paid 10% to $133,120 for the top 10%.
How much do the highest-paid loan officers make in Monroe, MI?
The top 10% of loan officers in the Monroe, MI metro area earn at least $133,120 a year. The top 25% earn $96,450 or more.
What is the starting pay for loan officers in Monroe, MI?
Entry-level pay (the 10th percentile) is about $26,690 a year, and a quarter of loan officers earn $39,300 or less.
How many loan officers work in Monroe, MI?
About 30 loan officers are employed in the Monroe, MI metro area, not counting the self-employed.