The annual salary statistics of loan officers in Southwest Iowa nonmetropolitan area, Iowa is shown in Table 1. The wage data of loan officers in Southwest Iowa nonmetropolitan area 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 | $57,820 |
| 25th Percentile Wage | $70,230 |
| 50th Percentile Wage | $100,250 |
| 75th Percentile Wage | $102,980 |
| 90th Percentile Wage | $138,700 |
Table 1 shows the average annual salary for loan officers in Southwest Iowa nonmetropolitan area, Iowa in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $138,700. The median (50th percentile) annual salary is $100,250. The average annual salary for the bottom 10 percent earners is $57,820.
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 | $100,250 | 24.49% | 32.98% |
| 2021 | $75,700 | -2.35% | - |
| 2020 | $77,480 | 6.25% | - |
| 2019 | $72,640 | -1.67% | - |
| 2018 | $73,850 | 2.06% | - |
| 2017 | $72,330 | -2.77% | - |
| 2016 | $74,330 | 7.52% | - |
| 2015 | $68,740 | -3.14% | - |
| 2014 | $70,900 | 11.78% | - |
| 2013 | $62,550 | -7.42% | - |
| 2012 | $67,190 | - | - |
From Table 3 we note that with a median annual salary of $100,250, Southwest Iowa nonmetropolitan area is the highest paying city for loan officers in state of Iowa, followed by Des Moines-West Des Moines (median annual salary $82,830). In comparison, the median annual salary of loan officers in Southwest Iowa nonmetropolitan area is 17.4 percent (17.4%) higher than that in Des Moines-West Des Moines.
| 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 |