Business & Finance Bloomington, MN
Pop. 89,987
Loan Officer Salary in Bloomington, Minnesota
The median loan officer salary in Bloomington, MN is $68,370 per year, which is 4.0% above the national median and 5.1% above the Minnesota state average.
City Median
$68,370
vs State Avg
+$3,287
vs National
+$2,630
Cost of Living
102%
Loan Officer Salary in Bloomington by Experience
In Bloomington, an entry-level loan officer earns around $39,520, while experienced professionals earn up to $135,200 per year. The local cost of living index is 102% of the national average.
Entry Level (0-2 yrs)
$39,520
+$1,520 vs national
Mid Level (3-7 yrs)
$68,640
+$2,640 vs national
Senior Level (8+ yrs)
$135,200
+$5,200 vs national
Salary Percentiles in Bloomington, MN
| Percentile | Bloomington |
|---|---|
| 10th Percentile | $36,608 |
| 25th Percentile | $47,216 |
| Median (50th) | $68,370 |
| 75th Percentile | $104,000 |
| 90th Percentile | $159,952 |
Loan Officer Salary in Other Minnesota Cities
How to Become a Loan Officer in Bloomington
Education
Most loan officer positions require a bachelor's degree. Bloomington and the surrounding Minnesota 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 Bloomington may vary based on local industry and population growth.