The annual salary statistics of loan officers in Kalamazoo-Portage, Michigan is shown in Table 1. The wage data of loan officers in Kalamazoo-Portage 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 | $26,850 |
| 25th Percentile Wage | $37,030 |
| 50th Percentile Wage | $58,570 |
| 75th Percentile Wage | $81,490 |
| 90th Percentile Wage | $129,550 |
Table 1 shows the average annual salary for loan officers in Kalamazoo-Portage, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $129,550. The median (50th percentile) annual salary is $58,570. The average annual salary for the bottom 10 percent earners is $26,850.
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 | $58,570 | -3.16% | 22.95% |
| 2021 | $60,420 | 20.67% | - |
| 2020 | $47,930 | -3.32% | - |
| 2019 | $49,520 | -9.87% | - |
| 2018 | $54,410 | -2.87% | - |
| 2017 | $55,970 | 3.64% | - |
| 2016 | $53,930 | -17.23% | - |
| 2015 | $63,220 | 4.27% | - |
| 2014 | $60,520 | 5.65% | - |
| 2013 | $57,100 | 20.96% | - |
| 2012 | $45,130 | - | - |
From Table 3 we note that the median annual salary of $58,570 in Kalamazoo-Portage is in the middle of salary range for loan officers in state of Michigan. In comparison, the annual salary of loan officers in Kalamazoo-Portage is 29.9 percent (29.9%) lower than that in the highest paying Detroit-Warren-Livonia and 48.8 percent (48.8%) higher than that in the lowest paying Detroit-Livonia-Dearborn.