Business & Finance Minneapolis, MN
Pop. 429,954
Loan Officer Salary in Minneapolis, Minnesota
The median loan officer salary in Minneapolis, MN is $70,342 per year, which is 7.0% above the national median and 8.1% above the Minnesota state average.
City Median
$70,342
vs State Avg
+$5,259
vs National
+$4,602
Cost of Living
105%
Loan Officer Salary in Minneapolis by Experience
In Minneapolis, an entry-level loan officer earns around $40,660, while experienced professionals earn up to $139,100 per year. The local cost of living index is 105% of the national average.
Entry Level (0-2 yrs)
$40,660
+$2,660 vs national
Mid Level (3-7 yrs)
$70,620
+$4,620 vs national
Senior Level (8+ yrs)
$139,100
+$9,100 vs national
Salary Percentiles in Minneapolis, MN
| Percentile | Minneapolis |
|---|---|
| 10th Percentile | $37,664 |
| 25th Percentile | $48,578 |
| Median (50th) | $70,342 |
| 75th Percentile | $107,000 |
| 90th Percentile | $164,566 |
Loan Officer Salary in Other Minnesota Cities
How to Become a Loan Officer in Minneapolis
Education
Most loan officer positions require a bachelor's degree. Minneapolis 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 Minneapolis may vary based on local industry and population growth.