The annual salary statistics of loan officers in Waterloo-Cedar Falls, Iowa is shown in Table 1. The wage data of loan officers in Waterloo-Cedar Falls 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 | $45,840 |
| 25th Percentile Wage | $51,210 |
| 50th Percentile Wage | $67,860 |
| 75th Percentile Wage | $97,150 |
| 90th Percentile Wage | $131,320 |
Table 1 shows the average annual salary for loan officers in Waterloo-Cedar Falls, Iowa in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $131,320. The median (50th percentile) annual salary is $67,860. The average annual salary for the bottom 10 percent earners is $45,840.
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 | $67,860 | 8.68% | -1.90% |
| 2021 | $61,970 | 15.07% | - |
| 2020 | $52,630 | -29.72% | - |
| 2019 | $68,270 | -11.29% | - |
| 2018 | $75,980 | -3.04% | - |
| 2017 | $78,290 | 31.50% | - |
| 2016 | $53,630 | 6.81% | - |
| 2015 | $49,980 | -12.53% | - |
| 2014 | $56,240 | -22.83% | - |
| 2013 | $69,080 | -0.10% | - |
| 2012 | $69,150 | - | - |
From Table 3 we note that the median annual salary of $67,860 in Waterloo-Cedar Falls is in the middle of salary range for loan officers in state of Iowa. In comparison, the annual salary of loan officers in Waterloo-Cedar Falls is 32.3 percent (32.3%) lower than that in the highest paying Southwest Iowa nonmetropolitan area and 5.5 percent (5.5%) higher than that in the lowest paying Iowa City.
| 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 |