Business & Finance Springfield, IL
Pop. 114,394
Loan Officer Salary in Springfield, Illinois
The median loan officer salary in Springfield, IL is $59,823 per year, which is 9% below the national median and 9.9% below the Illinois state average.
City Median
$59,823
vs State Avg
$-6,574
vs National
$-5,917
Cost of Living
85%
Loan Officer Salary in Springfield by Experience
In Springfield, an entry-level loan officer earns around $34,580, while experienced professionals earn up to $118,300 per year. The local cost of living index is 85% of the national average.
Entry Level (0-2 yrs)
$34,580
$-3,420 vs national
Mid Level (3-7 yrs)
$60,060
$-5,940 vs national
Senior Level (8+ yrs)
$118,300
$-11,700 vs national
Salary Percentiles in Springfield, IL
| Percentile | Springfield |
|---|---|
| 10th Percentile | $32,032 |
| 25th Percentile | $41,314 |
| Median (50th) | $59,823 |
| 75th Percentile | $91,000 |
| 90th Percentile | $139,958 |
Loan Officer Salary in Other Illinois Cities
How to Become a Loan Officer in Springfield
Education
Most loan officer positions require a bachelor's degree. Springfield and the surrounding Illinois area have institutions offering relevant programs.
Key Skills
Credit AnalysisMortgage LendingCustomer ServiceRegulatory ComplianceSalesFinancial Software
Job Outlook
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Demand in Springfield may vary based on local industry and population growth.