The annual salary statistics of loan officers in Chicago-Joliet-Naperville (IL-IN-WI Area), Illinois is shown in Table 1. The wage statistics of loan officers in Chicago-Joliet-Naperville (IL-IN-WI 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 | $35,800 |
| 25th Percentile Wage | $49,920 |
| 50th Percentile Wage | $77,950 |
| 75th Percentile Wage | $103,820 |
| 90th Percentile Wage | $162,530 |
Table 1 shows the average annual salary for loan officers in Chicago-Joliet-Naperville (IL-IN-WI Area), Illinois in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $162,530. The median (50th percentile) annual salary is $77,950. The average annual salary for the bottom 10 percent earners is $35,800.
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 | $77,950 | 9.35% | 12.46% |
| 2021 | $70,660 | 14.93% | - |
| 2020 | $60,110 | -14.69% | - |
| 2019 | $68,940 | -3.77% | - |
| 2018 | $71,540 | -0.06% | - |
| 2017 | $71,580 | 12.95% | - |
| 2016 | $62,310 | -8.94% | - |
| 2015 | $67,880 | -1.34% | - |
| 2014 | $68,790 | -1.96% | - |
| 2013 | $70,140 | 2.71% | - |
| 2012 | $68,240 | - | - |
From Table 3 we note that with a median annual salary of $77,950, Chicago-Joliet-Naperville (IL-IN-WI Area) is the highest paying city for loan officers in state of Illinois, followed by Bloomington (median annual salary $75,140). In comparison, the median annual salary of loan officers in Chicago-Joliet-Naperville (IL-IN-WI Area) is 3.6 percent (3.6%) higher than that in Bloomington.
| Cities/Areas | Median Annual Salary |
|---|---|
| Chicago-Joliet-Naperville (IL-IN-WI Area) | |
| Bloomington | |
| Chicago-Joliet-Naperville (IL Metropolitan Division) | |
| Northwest Illinois nonmetropolitan area | |
| South Illinois nonmetropolitan area | |
| Champaign-Urbana | |
| East Central Illinois nonmetropolitan area | |
| West Central Illinois nonmetropolitan area | |
| Danville | |
| Carbondale-Marion | |
| Springfield | |
| Peoria | |
| Rockford | |
| Kankakee-Bradley | |
| Decatur | |
| Bloomington-Normal |