Loan Officer salary in Springfield, IL
Loan Officers in the Springfield, IL metro area earn a median of $78,600 a year ($37.79 an hour), based on BLS data for 190 workers.
Pay ranges from $52,380 for the lowest-paid 10% to $151,540 for the top 10%. That is 2% higher than the national median of $76,690. Pay here is 1% lower than the Illinois statewide median of $79,150. There are 1.9 loan officers per 1,000 jobs here — close to the national average. The average (mean) salary is $90,720, above the median because a few high earners pull it up.
Pay range for loan officers in Springfield, IL
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $52,380 | $25.19 |
| 25th percentile | $62,930 | $30.25 |
| Median | $78,600 | $37.79 |
| 75th percentile | $97,460 | $46.86 |
| 90th percentile (top earners) | $151,540 | $72.86 |
| Average (mean) | $90,720 | $43.61 |
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 | $6,550 |
| Semi-monthly (24 a year) | $3,275 |
| Biweekly (26 a year) | $3,023.08 |
| Weekly | $1,511.54 |
| Hourly | $37.79 |
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 |
|---|---|---|
| Chicago-Naperville-Elgin, IL-IN | $80,040 | 7,380 |
| Champaign-Urbana, IL | $78,950 | 210 |
| 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 |
See Loan Officer pay in every state or the Illinois statewide figures.
Related jobs in Springfield, IL
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $86,440 | $41.56 |
| Financial Examiner | $76,790 | $36.92 |
| Financial and Investment Analysts | $83,490 | $40.14 |
| Personal Financial Advisor | $154,370 | $74.22 |
| Financial Specialists, All Other | $69,240 | $33.29 |
| Insurance Underwriter | $74,680 | $35.91 |
| Credit Analyst | $73,950 | $35.55 |
| Financial Risk Specialist | $74,360 | $35.75 |
| Business Operations Specialists, All Other | $95,990 | $46.15 |
| Human Resources Specialist | $78,840 | $37.90 |
| Management Analyst | $91,650 | $44.06 |
| Project Management Specialist | $100,030 | $48.09 |
| Market Research Analysts and Marketing Specialists | $65,090 | $31.29 |
| Training and Development Specialists | $69,590 | $33.46 |
More: Business and Financial Operations Occupations · all salaries in Springfield, IL
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 Springfield, IL?
The median salary for loan officers in the Springfield, IL metro area is $78,600 a year, or $37.79 an hour. Pay ranges from $52,380 for the lowest-paid 10% to $151,540 for the top 10%.
How much do the highest-paid loan officers make in Springfield, IL?
The top 10% of loan officers in the Springfield, IL metro area earn at least $151,540 a year. The top 25% earn $97,460 or more.
What is the starting pay for loan officers in Springfield, IL?
Entry-level pay (the 10th percentile) is about $52,380 a year, and a quarter of loan officers earn $62,930 or less.
How many loan officers work in Springfield, IL?
About 190 loan officers are employed in the Springfield, IL metro area, not counting the self-employed.