The annual salary statistics of loan officers in Saginaw-Saginaw Township North, Michigan is shown in Table 1. The wage information of loan officers in Saginaw-Saginaw Township North 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 | $37,010 |
| 25th Percentile Wage | $47,980 |
| 50th Percentile Wage | $58,640 |
| 75th Percentile Wage | $78,660 |
| 90th Percentile Wage | $96,600 |
Table 1 shows the average annual salary for loan officers in Saginaw-Saginaw Township North, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $96,600. The median (50th percentile) annual salary is $58,640. The average annual salary for the bottom 10 percent earners is $37,010.
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 | $58,640 | -3.39% | 25.95% |
| 2021 | $60,630 | 12.77% | - |
| 2020 | $52,890 | 14.56% | - |
| 2019 | $45,190 | 14.49% | - |
| 2018 | $38,640 | -3.55% | - |
| 2017 | $40,010 | 2.80% | - |
| 2016 | $38,890 | 1.75% | - |
| 2015 | $38,210 | 0.60% | - |
| 2014 | $37,980 | -9.14% | - |
| 2013 | $41,450 | -4.75% | - |
| 2012 | $43,420 | - | - |
From Table 3 we note that the median annual salary of $58,640 in Saginaw-Saginaw Township North is in the middle of salary range for loan officers in state of Michigan. In comparison, the annual salary of loan officers in Saginaw-Saginaw Township North is 29.8 percent (29.8%) lower than that in the highest paying Detroit-Warren-Livonia and 48.9 percent (48.9%) higher than that in the lowest paying Detroit-Livonia-Dearborn.