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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 amongst 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 2017 and published in April 2018 [1].

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$33,500
25th Percentile Wage
$39,510
50th Percentile Wage
$56,020
75th Percentile Wage
$81,240
90th Percentile Wage
$113,930

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 $113,930. The median (50th percentile) annual salary is $56,020. The average annual salary for the bottom 10 percent is $33,500.

Salary Trend (2012 to 2017)

The table and chart below show the trend of the median salary of loan officers from 2012 to 2017.

YearMedian SalaryYearly Growth5-Year Growth
2017
$56,020
-1.14% 3.14%
2016
$56,660
-0.46% -
2015
$56,920
0.63% -
2014
$56,560
2.48% -
2013
$55,160
1.63% -
2012
$54,260
- -

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 $71,790. The highest paying area for loan officers in Indiana is Fort Wayne with a median annual salary of $71,790. The second highest paying city/area in Indiana State is Central Indiana nonmetropolitan area (mean annual salary $66,460). The lowest paying area is Lafayette with a median annual salary of $39,610.

Cities/Areas Median Annual Salary
Fort Wayne
$71,790
Central Indiana nonmetropolitan area
$66,460
Elkhart-Goshen
$65,000
Muncie
$62,670
Southern Indiana nonmetropolitan area
$62,230
Gary
$59,840
Kokomo
$59,500
Indianapolis-Carmel
$56,690
Bloomington
$53,060
Northern Indiana nonmetropolitan area
$52,030
Anderson
$47,990
Terre Haute
$46,840
Michigan City-La Porte
$45,060
Columbus
$39,740
Lafayette
$39,610




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