The annual salary statistics of loan officers in Champaign-Urbana, Illinois is shown in Table 1. The wage information of loan officers in Champaign-Urbana 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 | $36,950 |
| 25th Percentile Wage | $50,040 |
| 50th Percentile Wage | $68,260 |
| 75th Percentile Wage | $98,120 |
| 90th Percentile Wage | $130,240 |
Table 1 shows the average annual salary for loan officers in Champaign-Urbana, Illinois in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $130,240. The median (50th percentile) annual salary is $68,260. The average annual salary for the bottom 10 percent earners is $36,950.
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 | $68,260 | 5.29% | 34.18% |
| 2021 | $64,650 | 3.50% | - |
| 2020 | $62,390 | 11.81% | - |
| 2019 | $55,020 | -4.16% | - |
| 2018 | $57,310 | -5.93% | - |
| 2017 | $60,710 | -1.25% | - |
| 2016 | $61,470 | -3.94% | - |
| 2015 | $63,890 | 5.06% | - |
| 2014 | $60,660 | 5.04% | - |
| 2013 | $57,600 | 22.00% | - |
| 2012 | $44,930 | - | - |
From Table 3 we note that the median annual salary of $68,260 in Champaign-Urbana is in the middle of salary range for loan officers in state of Illinois. In comparison, the annual salary of loan officers in Champaign-Urbana is 12.4 percent (12.4%) lower than that in the highest paying Chicago-Joliet-Naperville (IL-IN-WI Area) and 29.6 percent (29.6%) higher than that in the lowest paying Bloomington-Normal.