The annual salary statistics of loan officers in Detroit-Livonia-Dearborn, Michigan is shown in Table 1. The wage data of loan officers in Detroit-Livonia-Dearborn 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 | $26,080 |
| 25th Percentile Wage | $27,540 |
| 50th Percentile Wage | $29,970 |
| 75th Percentile Wage | $41,420 |
| 90th Percentile Wage | $58,750 |
Table 1 shows the average annual salary for loan officers in Detroit-Livonia-Dearborn, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $58,750. The median (50th percentile) annual salary is $29,970. The average annual salary for the bottom 10 percent earners is $26,080.
From Table 3 we note that with a median annual salary of $29,970, Detroit-Livonia-Dearborn is the lowest paying city for loan officers in state of Michigan, following city of Detroit-Warren-Livonia (median annual salary of $83,510). Compared with the highest paying city Detroit-Warren-Livonia, the median annual salary of loan officers in Detroit-Livonia-Dearborn is 64.1 percent (64.1%) lower.