Business & Finance Rochester, MN Pop. 121,395

Loan Officer Salary in Rochester, Minnesota

The median loan officer salary in Rochester, MN is $65,740 per year, which is 0.0% above the national median and 1.0% above the Minnesota state average.

City Median
$65,740
vs State Avg
+$657
vs National
+$0
Cost of Living
98%

Loan Officer Salary in Rochester by Experience

In Rochester, an entry-level loan officer earns around $38,000, while experienced professionals earn up to $130,000 per year. The local cost of living index is 98% of the national average.

Entry Level (0-2 yrs)
$38,000
+$0 vs national
Mid Level (3-7 yrs)
$66,000
+$0 vs national
Senior Level (8+ yrs)
$130,000
+$0 vs national

Salary Percentiles in Rochester, MN

Percentile Rochester
10th Percentile $35,200
25th Percentile $45,400
Median (50th) $65,740
75th Percentile $100,000
90th Percentile $153,800

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
Duluth, MN
$60,481
Pop. 90,884

How to Become a Loan Officer in Rochester

Education

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

Find Loan Officer Jobs in Rochester

Browse open loan officer positions in Rochester, MN:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Loan Officer Salary in Rochester

How much does a Loan Officer make in Rochester, MN? ▼
The median loan officer salary in Rochester, Minnesota is $65,740 per year, which is 0.0% above the national median of $65,740. Salaries range from $35,200 (10th percentile) to $153,800 (90th percentile).
How much does a Loan Officer make per hour in Rochester? ▼
Based on the median annual salary of $65,740, a loan officer in Rochester earns approximately $32 per hour assuming a standard 2,080-hour work year.
How does Rochester compare to the Minnesota state average for loan officer pay? ▼
Rochester's median loan officer salary of $65,740 is 1.0% above the Minnesota state average of $65,083. The local cost of living index is 98% of the national average.
What is the cost of living in Rochester, MN? ▼
Rochester has a cost of living index of 98% compared to the national average. This means a loan officer salary of $65,740 in Rochester has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Rochester? ▼
Most loan officer positions in Rochester 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.