The annual salary statistics of loan officers in Michigan City-La Porte, Indiana is shown in Table 1. The wage information of loan officers in Michigan City-La Porte 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 | $34,860 |
| 25th Percentile Wage | $45,030 |
| 50th Percentile Wage | $64,000 |
| 75th Percentile Wage | $104,260 |
| 90th Percentile Wage | $199,660 |
Table 1 shows the average annual salary for loan officers in Michigan City-La Porte, Indiana in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $199,660. The median (50th percentile) annual salary is $64,000. The average annual salary for the bottom 10 percent earners is $34,860.
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 | $64,000 | 4.88% | 29.56% |
| 2021 | $60,880 | 16.52% | - |
| 2019 | $50,820 | 11.33% | - |
| 2017 | $45,060 | -9.05% | - |
| 2016 | $49,140 | -22.10% | - |
| 2015 | $60,000 | 0.37% | - |
| 2014 | $59,780 | 13.57% | - |
| 2013 | $51,670 | 12.75% | - |
| 2012 | $45,080 | - | - |
From Table 3 we note that the median annual salary of $64,000 in Michigan City-La Porte is in the middle of salary range for loan officers in state of Indiana. In comparison, the annual salary of loan officers in Michigan City-La Porte is 15.8 percent (15.8%) lower than that in the highest paying Indianapolis-Carmel and 38.1 percent (38.1%) 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 |