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Loan Officers Salary in Minnesota
Last updated: 2025 BLS data · Page refreshed:
How much do Loan Officers make in Minnesota?
Last updated: 2025 data from the Bureau of Labor Statistics
$95,170
Median Annual Salary
▲
+12.7% vs 2024
$104,700
Mean Salary
$95,170
Median Salary
$45.75
Hourly Rate
6,430 people work as Loan Officers in Minnesota
Loan Officers salary by percentile in Minnesota
BLS-reported salary distribution — from entry-level (10th percentile) to top earners (90th percentile).
Loan Officers in Minnesota earn a median salary of $95,170 per year ($7,930/month).
This is 24.6% above the national average of $76,354.
Minnesota ranks #4 out of 51 states for Loan Officers pay.
Approximately 6,430 people work in this occupation across Minnesota.
Salaries increased by 12.7% compared to 2024.
About This Job: Loan Officers
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.
Top Skills
Active Listening
4.0
Speaking
4.0
Reading Comprehension
3.88
Judgment and Decision Making
3.88
Critical Thinking
3.75
Key Knowledge Areas
Customer and Personal Service
4.7
Economics and Accounting
3.86
English Language
3.77
Mathematics
3.69
Sales and Marketing
3.47
Typical Education: Bachelor's Degree
(68.7% of workers)
Salaries for Loan Officers in Minnesota range from $57,670 at the 10th percentile (entry level) to $163,350 at the 90th percentile (experienced). The middle 50% earn between $73,240 and $125,550.
The median annual salary for Loan Officers in Minnesota is $95,170 as of 2025. The average (mean) salary is $104,700.
What is the salary range for a Loan Officers in Minnesota?
Salaries for Loan Officers in Minnesota range from $57,670 at the 10th percentile to $163,350 at the 90th percentile. The middle 50% earn between $73,240 and $125,550.
What is the starting salary for a Loan Officers in Minnesota?
Entry-level Loan Officers positions in Minnesota typically start around $57,670 (10th percentile). With some experience, salaries rise to $73,240 (25th percentile).
How many people work as Loan Officers in Minnesota?
According to 2025 BLS data, approximately 6,430 people are employed as Loan Officers in Minnesota.
What is the hourly rate for a Loan Officers in Minnesota?
Based on a standard 2,080-hour work year, the median hourly rate for a Loan Officers in Minnesota is approximately $45.75 per hour.
Salary data is sourced from the U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) survey, 2025 estimates. The OEWS survey covers approximately 1.1 million establishments nationwide.
Annual salaries are calculated based on a standard 2,080-hour work year. Actual compensation may vary based on experience, education, employer, and local market conditions. Figures do not include benefits, bonuses, or overtime pay.
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