Business & Finance Duluth, MN Pop. 90,884

Loan Officer Salary in Duluth, Minnesota

The median loan officer salary in Duluth, MN is $60,481 per year, which is 8% below the national median and 7.1% below the Minnesota state average.

City Median
$60,481
vs State Avg
$-4,602
vs National
$-5,259
Cost of Living
90%

Loan Officer Salary in Duluth by Experience

In Duluth, an entry-level loan officer earns around $34,960, while experienced professionals earn up to $119,600 per year. The local cost of living index is 90% of the national average.

Entry Level (0-2 yrs)
$34,960
$-3,040 vs national
Mid Level (3-7 yrs)
$60,720
$-5,280 vs national
Senior Level (8+ yrs)
$119,600
$-10,400 vs national

Salary Percentiles in Duluth, MN

Percentile Duluth
10th Percentile $32,384
25th Percentile $41,768
Median (50th) $60,481
75th Percentile $92,000
90th Percentile $141,496

Loan Officer Salary in Other Minnesota Cities

Minneapolis, MN
$70,342
Pop. 429,954
Bloomington, MN
$68,370
Pop. 89,987
Saint Paul, MN
$67,055
Pop. 311,527
Rochester, MN
$65,740
Pop. 121,395

How to Become a Loan Officer in Duluth

Education

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

Find Loan Officer Jobs in Duluth

Browse open loan officer positions in Duluth, MN:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Loan Officer Salary in Duluth

How much does a Loan Officer make in Duluth, MN? ▼
The median loan officer salary in Duluth, Minnesota is $60,481 per year, which is 8% below the national median of $65,740. Salaries range from $32,384 (10th percentile) to $141,496 (90th percentile).
How much does a Loan Officer make per hour in Duluth? ▼
Based on the median annual salary of $60,481, a loan officer in Duluth earns approximately $29 per hour assuming a standard 2,080-hour work year.
How does Duluth compare to the Minnesota state average for loan officer pay? ▼
Duluth's median loan officer salary of $60,481 is 7.1% below the Minnesota state average of $65,083. The local cost of living index is 90% of the national average.
What is the cost of living in Duluth, MN? ▼
Duluth has a cost of living index of 90% compared to the national average. This means a loan officer salary of $60,481 in Duluth has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Duluth? ▼
Most loan officer positions in Duluth require a bachelor's degree. Key skills include Credit Analysis, Mortgage Lending, Customer Service, Regulatory Compliance. The job market is projected to grow 3% nationally over the next decade.