The annual salary statistics of loan officers in Muskegon-Norton Shores, Michigan is shown in Table 1. The wage statistics of loan officers in Muskegon-Norton Shores 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 | $31,710 |
| 25th Percentile Wage | $40,650 |
| 50th Percentile Wage | $51,320 |
| 75th Percentile Wage | $70,870 |
| 90th Percentile Wage | $119,540 |
Table 1 shows the average annual salary for loan officers in Muskegon-Norton Shores, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $119,540. The median (50th percentile) annual salary is $51,320. The average annual salary for the bottom 10 percent earners is $31,710.
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 | $51,320 | 7.99% | 19.76% |
| 2021 | $47,220 | 12.77% | - |
| 2020 | $41,190 | 4.30% | - |
| 2019 | $39,420 | -14.92% | - |
| 2018 | $45,300 | 0.62% | - |
| 2017 | $45,020 | -4.98% | - |
| 2016 | $47,260 | -2.98% | - |
| 2015 | $48,670 | 7.93% | - |
| 2014 | $44,810 | -0.58% | - |
| 2013 | $45,070 | 8.63% | - |
| 2012 | $41,180 | - | - |
From Table 3 we note that the median annual salary of $51,320 in Muskegon-Norton Shores is in the middle of salary range for loan officers in state of Michigan. In comparison, the annual salary of loan officers in Muskegon-Norton Shores is 38.5 percent (38.5%) lower than that in the highest paying Detroit-Warren-Livonia and 41.6 percent (41.6%) higher than that in the lowest paying Detroit-Livonia-Dearborn.