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Loan Officers in Illinois

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Loan Officers in Illinois

Get the information you need to know about working as a Loan Officer.

4.1% Jobs Projection
$66,570 Median Salary
1,160 Job Openings

You’re in luck! Jobs for Loan Officers in Illinois are projected to grow and these jobs tend to pay higher than average.

  • Projected employment for Loan Officers in Illinois is growing slower than average.

  • Loan Officers in Illinois earn higher salaries than the typical U.S. wage earner.

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.

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The typical state has 4,250 Loan Officers working in it, which means Illinois has more Loan Officers than average.

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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%.

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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.

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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

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References

More about our data sources and methodologies.

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