The annual salary statistics of loan officers in Lansing-East Lansing, Michigan is shown in Table 1. The wage information of loan officers in Lansing-East Lansing 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 | $32,020 |
| 25th Percentile Wage | $38,300 |
| 50th Percentile Wage | $58,340 |
| 75th Percentile Wage | $84,640 |
| 90th Percentile Wage | $130,090 |
Table 1 shows the average annual salary for loan officers in Lansing-East Lansing, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $130,090. The median (50th percentile) annual salary is $58,340. The average annual salary for the bottom 10 percent earners is $32,020.
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 | $58,340 | -6.43% | 15.89% |
| 2021 | $62,090 | 10.28% | - |
| 2020 | $55,710 | 6.41% | - |
| 2019 | $52,140 | 3.66% | - |
| 2018 | $50,230 | 2.55% | - |
| 2017 | $48,950 | -37.16% | - |
| 2016 | $67,140 | 2.26% | - |
| 2015 | $65,620 | -3.43% | - |
| 2014 | $67,870 | 5.16% | - |
| 2013 | $64,370 | 23.77% | - |
| 2012 | $49,070 | - | - |
From Table 3 we note that the median annual salary of $58,340 in Lansing-East Lansing is in the middle of salary range for loan officers in state of Michigan. In comparison, the annual salary of loan officers in Lansing-East Lansing is 30.1 percent (30.1%) lower than that in the highest paying Detroit-Warren-Livonia and 48.6 percent (48.6%) higher than that in the lowest paying Detroit-Livonia-Dearborn.