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Loan Officer Salary Information in Indiana

The average annual and hourly salaries for loan officers in the state of Indiana are shown in Table 1 and Table 2, respectively. The comparison of the salary statistics of loan officers among Indiana metropolitan areas is shown in Table 3. The salary statistics are based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2016 and published in April 2017 [1].

Table 1 & 2. Annual & Hourly Salary of Loan Officers in Indiana

Percentile BracketAverage Annual Salary
10th Percentile Wage
$32,340
25th Percentile Wage
$38,830
50th Percentile Wage
$56,660
75th Percentile Wage
$81,710
90th Percentile Wage
$113,080

Table 1 shows the average annual salary for loan officers in Indiana in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $113,080. The median (50th percentile) annual salary is $56,660. The average annual salary for the bottom 10 percent is $32,340.

Percentile BracketAverage Hourly Salary
10th Percentile Wage
$15.55
25th Percentile Wage
$18.67
50th Percentile Wage
$27.24
75th Percentile Wage
$39.28
90th Percentile Wage
$54.37

Table 2 shows the average hourly salary for loan officers in Indiana in 5 percentile scales. The average hourly salary for the 90th percentile is $54.37. The median hourly salary is $27.24. The average hourly salary for the bottom 10 percent is $15.55.

Salary Trend (2012 to 2016)

The following table and chart show the trend of the median salary of loan officers from 2012 to 2016.

YearMedian SalaryYearly Growth4-Year Growth
201656,660-0.46%4.24%
201556,9200.63%-
201456,5602.48%-
201355,1601.63%-
201254,260--

Table 3. Median Annual Salary of Loan Officers in Indiana Cities

Table 3 shows the median annual salary of loan officers in some Indiana cities and metropolitan areas. We note that the median annual salary of loan officers in state of Indiana ranges from $39,610 to $71,700. The highest paying area for loan officers in Indiana is Elkhart-Goshen with a median annual salary of $71,700. The second highest paying city/area in Indiana State is Fort Wayne (mean annual salary $62,950). The lowest paying area is Lafayette with a median annual salary of $39,610.

Cities/Areas Median Annual Salary
Elkhart-Goshen
$71,700
Fort Wayne
$62,950
Indianapolis-Carmel
$61,390
Muncie
$58,360
Southern Indiana nonmetropolitan area
$55,410
Kokomo
$54,640
Terre Haute
$53,150
Gary
$52,610
Bloomington
$51,740
Central Indiana nonmetropolitan area
$51,610
Northern Indiana nonmetropolitan area
$50,600
Michigan City-La Porte
$49,140
Anderson
$47,990
Columbus
$45,870
Lafayette
$39,610


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