Loan Officers in Illinois
Get the information you need to know about working as a Loan Officer.
You’re in luck! Jobs for Loan Officers in Illinois are projected to grow and these jobs tend to pay higher than average.
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Projected employment for Loan Officers in Illinois is growing slower than average.
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Loan Officers in Illinois earn higher salaries than the typical U.S. wage earner.
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How Many Loan Officers Work in Illinois?
In Illinois, there were 12,330 people working as Loan Officers in the year 2018.
There were 12,580 Loan Officers employed in this state in 2017.
That’s a decline of 250 jobs between 2017 and 2018.
The typical state has 4,250 Loan Officers working in it, which means Illinois has more Loan Officers than average.
Job Projections for Illinois
Jobs for Loan Officers in this state are growing at a rate of 4.1% which is slower than the nationwide estimated projection of 11.4%.
Illinois Annual Job Openings
The BLS is projecting 1,160 annual Loan Officers job openings in Illinois, and 14,170 total jobs in the year 2026.
Nationwide, the prediction is 30,400 annual jobs and 354,900 total jobs in 2026.
What do Loan Officers Make in Illinois?
In 2018 wages for Loan Officers ranged from $33,870 to $144,510 with $66,570 being the median annual salary.
Broken down to an hourly rate, workers in this field made anywhere from $16.28 to $69.48. The median hourly rate was $32.01.
In 2017 the median pay for this field was $32.81 an hour.
The hourly rate declined by $0.80.
The median salary in Illinois is higher than the nationwide median salary.
Top Illinois Metros for Loan Officers
The table below shows some of the metros in this state with the most Loan Officers.
| Metro | Number Employed | Annual Median Salary |
|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI | 9,050 | $71,540 |
| St. Louis, MO-IL | 3,710 | $70,760 |
| Springfield, IL | 380 | $65,040 |
| Davenport-Moline-Rock Island, IA-IL | 340 | $57,820 |
| Peoria, IL | 320 | $74,470 |
| Champaign-Urbana, IL | 300 | $57,310 |
| Rockford, IL | 130 | $61,340 |
| Bloomington, IL | 120 | $67,710 |
| Cape Girardeau, MO-IL | 70 | $64,770 |
| Carbondale-Marion, IL | 70 | $53,240 |
| Kankakee, IL | 60 | $50,730 |
| Decatur, IL | 50 | $58,710 |
Top States for Loan Officers Employment
View the list below to see where most Loan Officers work.
| State | Number Employed | Annual Median Salary |
|---|---|---|
| California | 37,030 | $61,310 |
| Texas | 19,950 | $68,710 |
| Florida | 18,000 | $67,760 |
| North Carolina | 13,910 | $62,360 |
| New York | 12,890 | $78,520 |
| Illinois | 12,330 | $66,570 |
| Ohio | 11,520 | $64,770 |
| Virginia | 10,140 | $63,860 |
| Pennsylvania | 10,010 | $59,340 |
| Arizona | 8,970 | $54,400 |
| Georgia | 7,790 | $54,690 |
| Minnesota | 7,740 | $72,030 |
| Missouri | 7,130 | $68,010 |
| Wisconsin | 7,090 | $62,850 |
| Washington | 6,940 | $60,540 |
| New Jersey | 6,670 | $73,180 |
| Massachusetts | 5,780 | $70,090 |
| Tennessee | 5,440 | $54,490 |
| Kentucky | 5,300 | $60,400 |
| Utah | 5,220 | $45,470 |
Below are the states where Loan Officers get paid the most:
| State | Annual Median Salary |
|---|---|
| New York | $78,520 |
| New Hampshire | $76,430 |
| Nebraska | $75,800 |
| Connecticut | $74,990 |
| District of Columbia | $74,840 |
| New Jersey | $73,180 |
| Minnesota | $72,030 |
| Kansas | $71,550 |
| Massachusetts | $70,090 |
| Texas | $68,710 |
Related Careers in IL
You may also be interested in the following careers:
References
- Bureau of Labor Statistics (BLS)
- College Factual
- National Center for Education Statistics
- O*NET Online
- Image Credit: By Dave Dugdale under License
More about our data sources and methodologies.
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