Loan Officers Salary in Minnesota

Half of loan officers roles in Minnesota report earning more than $95,170 a year and half report earning less — that is the median. The mean (average) of $104,700 is pulled up or down by the highest and lowest earners, which is why the median is usually the better benchmark.

Salary range

A quarter of reported salaries fall below $73,240 and a quarter are above $125,550, so most loan officers pay sits between those two figures. These percentiles describe how pay is spread across all reported roles — they are not a direct measure of years of experience.

What can affect loan officers pay?

• Years of experience and level of responsibility
• Employer type and size
• Specialization within the occupation
• Certifications and licensing
• Industry
• Hours worked, shift patterns and overtime
• The local labor market where the job is based