Loan Officer Salary in Minnesota
The median loan officer salary in Minnesota is $65,083 per year, which is 1% below the national median of $65,740.
Loan Officer Salary in Minnesota by Experience
In Minnesota, an entry-level loan officer earns around $37,620, while experienced professionals earn up to $128,700 per year. The cost of living index in Minnesota is 97% of the national average.
Salary Percentiles in Minnesota
| Percentile | MN Salary |
|---|---|
| 10th Percentile | $34,848 |
| 25th Percentile | $44,946 |
| Median (50th) | $65,083 |
| 75th Percentile | $99,000 |
| 90th Percentile | $152,262 |
Major Cities for Loan Officers in Minnesota
The largest employment areas for loan officers in Minnesota include Minneapolis, Saint Paul, Rochester, and Duluth. Salaries in major metro areas may be higher due to increased demand and cost of living.
How to Become a Loan Officer in Minnesota
Education
Most loan officer positions require a bachelor's degree. Minnesota has several accredited institutions offering relevant programs.
Key Skills
Job Outlook in Minnesota
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Minnesota's demand may vary based on local industry trends.