The annual salary statistics of loan officers in Lafayette-West Lafayette, Indiana is shown in Table 1. The wage statistics of loan officers in Lafayette-West Lafayette 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 | $40,320 |
| 25th Percentile Wage | $46,410 |
| 50th Percentile Wage | $62,830 |
| 75th Percentile Wage | $84,050 |
| 90th Percentile Wage | $137,360 |
Table 1 shows the average annual salary for loan officers in Lafayette-West Lafayette, Indiana in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $137,360. The median (50th percentile) annual salary is $62,830. The average annual salary for the bottom 10 percent earners is $40,320.
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 | $62,830 | 3.84% | 10.25% |
| 2021 | $60,420 | 17.03% | - |
| 2020 | $50,130 | -0.94% | - |
| 2019 | $50,600 | -3.48% | - |
| 2018 | $52,360 | 0.32% | - |
| 2017 | $52,190 | -8.05% | - |
| 2016 | $56,390 | 13.71% | - |
| 2015 | $48,660 | -15.89% | - |
| 2012 | $56,390 | - | - |
From Table 3 we note that the median annual salary of $62,830 in Lafayette-West Lafayette is in the middle of salary range for loan officers in state of Indiana. In comparison, the annual salary of loan officers in Lafayette-West Lafayette is 17.3 percent (17.3%) lower than that in the highest paying Indianapolis-Carmel and 37.0 percent (37.0%) 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 |