The annual salary statistics of loan officers in Elkhart-Goshen, Indiana is shown in Table 1. The wage data of loan officers in Elkhart-Goshen 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 | $41,850 |
| 25th Percentile Wage | $50,100 |
| 50th Percentile Wage | $66,670 |
| 75th Percentile Wage | $81,510 |
| 90th Percentile Wage | $118,970 |
Table 1 shows the average annual salary for loan officers in Elkhart-Goshen, Indiana in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $118,970. The median (50th percentile) annual salary is $66,670. The average annual salary for the bottom 10 percent earners is $41,850.
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 | $66,670 | 9.36% | 21.36% |
| 2021 | $60,430 | 10.61% | - |
| 2020 | $54,020 | -5.63% | - |
| 2019 | $57,060 | 9.27% | - |
| 2018 | $51,770 | -25.56% | - |
| 2017 | $65,000 | -10.31% | - |
| 2016 | $71,700 | 4.13% | - |
| 2015 | $68,740 | 20.37% | - |
| 2014 | $54,740 | 13.19% | - |
| 2013 | $47,520 | -10.33% | - |
| 2012 | $52,430 | - | - |
From Table 3 we note that the median annual salary of $66,670 in Elkhart-Goshen is in the middle of salary range for loan officers in state of Indiana. In comparison, the annual salary of loan officers in Elkhart-Goshen is 12.3 percent (12.3%) lower than that in the highest paying Indianapolis-Carmel and 40.6 percent (40.6%) higher than that in the lowest paying Lafayette.
| Cities/Areas | Median Annual Salary |
|---|---|
| Indianapolis-Carmel | |
| Bloomington | |
| Elkhart-Goshen | |
| Michigan City-La Porte | |
| Southern Indiana nonmetropolitan area | |
| Central Indiana nonmetropolitan area | |
| Lafayette-West Lafayette | |
| Columbus | |
| Kokomo | |
| Muncie | |
| Gary | |
| Northern Indiana nonmetropolitan area | |
| Terre Haute | |
| Fort Wayne | |
| Anderson | |
| Lafayette |