The annual salary statistics of loan officers in Indianapolis-Carmel, Indiana is shown in Table 1. The wage data of loan officers in Indianapolis-Carmel 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 | $39,740 |
| 25th Percentile Wage | $52,500 |
| 50th Percentile Wage | $75,980 |
| 75th Percentile Wage | $115,490 |
| 90th Percentile Wage | $155,250 |
Table 1 shows the average annual salary for loan officers in Indianapolis-Carmel, Indiana in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $155,250. The median (50th percentile) annual salary is $75,980. The average annual salary for the bottom 10 percent earners is $39,740.
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 | $75,980 | 20.27% | 15.19% |
| 2021 | $60,580 | 0.31% | - |
| 2020 | $60,390 | 6.94% | - |
| 2019 | $56,200 | -3.70% | - |
| 2018 | $58,280 | 2.73% | - |
| 2017 | $56,690 | -8.29% | - |
| 2016 | $61,390 | 3.13% | - |
| 2015 | $59,470 | -14.46% | - |
| 2014 | $68,070 | 1.18% | - |
| 2013 | $67,270 | 4.21% | - |
| 2012 | $64,440 | - | - |
From Table 3 we note that with a median annual salary of $75,980, Indianapolis-Carmel is the highest paying city for loan officers in state of Indiana, followed by Bloomington (median annual salary $75,480). In comparison, the median annual salary of loan officers in Indianapolis-Carmel is .7 percent (.7%) higher than that in Bloomington.
| 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 |