Business & Finance Carmel, IN Pop. 99,757

Loan Officer Salary in Carmel, Indiana

The median loan officer salary in Carmel, IN is $69,027 per year, which is 5.0% above the national median and 16.7% above the Indiana state average.

City Median
$69,027
vs State Avg
+$9,861
vs National
+$3,287
Cost of Living
105%

Loan Officer Salary in Carmel by Experience

In Carmel, an entry-level loan officer earns around $39,900, while experienced professionals earn up to $136,500 per year. The local cost of living index is 105% of the national average.

Entry Level (0-2 yrs)
$39,900
+$1,900 vs national
Mid Level (3-7 yrs)
$69,300
+$3,300 vs national
Senior Level (8+ yrs)
$136,500
+$6,500 vs national

Salary Percentiles in Carmel, IN

Percentile Carmel
10th Percentile $36,960
25th Percentile $47,670
Median (50th) $69,027
75th Percentile $105,000
90th Percentile $161,490

Loan Officer Salary in Other Indiana Cities

Indianapolis, IN
$61,138
Pop. 887,642
Fort Wayne, IN
$55,879
Pop. 263,886
Evansville, IN
$55,222
Pop. 117,429
South Bend, IN
$54,564
Pop. 103,453

How to Become a Loan Officer in Carmel

Education

Most loan officer positions require a bachelor's degree. Carmel and the surrounding Indiana 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 Carmel may vary based on local industry and population growth.