The annual salary statistics of loan officers in Des Moines-West Des Moines, Iowa is shown in Table 1. The wage information of loan officers in Des Moines-West Des Moines is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $51,050 |
| 25th Percentile Wage | $61,160 |
| 50th Percentile Wage | $82,830 |
| 75th Percentile Wage | $115,570 |
| 90th Percentile Wage | $136,380 |
Table 1 shows the average annual salary for loan officers in Des Moines-West Des Moines, Iowa in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $136,380. The median (50th percentile) annual salary is $82,830. The average annual salary for the bottom 10 percent earners is $51,050.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $82,830 | 23.39% | 29.72% |
| 2021 | $63,460 | -5.67% | - |
| 2020 | $67,060 | 5.88% | - |
| 2019 | $63,120 | -4.66% | - |
| 2018 | $66,060 | 2.23% | - |
| 2017 | $64,590 | 7.20% | - |
| 2016 | $59,940 | 2.25% | - |
| 2015 | $58,590 | 0.77% | - |
| 2014 | $58,140 | 3.23% | - |
| 2013 | $56,260 | -3.47% | - |
| 2012 | $58,210 | - | - |
From Table 3 we note that with a median annual salary of $82,830, Des Moines-West Des Moines is the second highest paying city for loan officers in state of Iowa, following the highest paying city Southwest Iowa nonmetropolitan area (median annual salary of $100,250). Compared with Southwest Iowa nonmetropolitan area, the median annual salary of loan officers in Des Moines-West Des Moines is 17.4 percent (17.4%) lower.
| Cities/Areas | Median Annual Salary |
|---|---|
| Southwest Iowa nonmetropolitan area | |
| Des Moines-West Des Moines | |
| Dubuque | |
| Ames | |
| Cedar Rapids | |
| Southeast Iowa nonmetropolitan area | |
| Northwest Iowa nonmetropolitan area | |
| Waterloo-Cedar Falls | |
| Northeast Iowa nonmetropolitan area | |
| Davenport-Moline-Rock Island | |
| Iowa City |