Salary Range — 10th to 90th Percentile
Full Percentile Breakdown
| Percentile | Annual Wage | Hourly Wage |
|---|---|---|
| 10th percentile (entry-level) | $34,690 | $16.68 |
| 25th percentile | $49,540 | $23.82 |
| 50th percentile (median) | $72,680 | $34.94 |
| 75th percentile | $103,180 | $49.61 |
| 90th percentile (top earners) | $136,390 | $65.57 |
| Mean (average) | $82,830 | $39.82 |
How Michigan Compares
| State | Median Annual | vs. Michigan |
|---|---|---|
| Michigan (current) | $72,680 | — |
| District of Columbia | $102,200 | +41% |
| New York | $98,940 | +36% |
| New Jersey | $95,090 | +31% |
| Massachusetts | $93,430 | +29% |
| Vermont | $86,490 | +19% |
| Minnesota | $84,480 | +16% |
| North Dakota | $82,990 | +14% |
| Kansas | $82,540 | +14% |
Showing top-paying states with available data. View all states →
Related Occupations in Michigan
| Occupation | Median Annual | Employment |
|---|---|---|
| Electricians | $72,680 | 24,670 |
| Credit Analysts | $72,620 | 1,270 |
| Dietitians and Nutritionists | $72,550 | 2,140 |
| Securities, Commodities, and Financial Services Sales Agents | $73,310 | 5,560 |
| Buyers and Purchasing Agents | $73,360 | 16,740 |
| Education Administrators, All Other | $73,760 | 910 |
Frequently Asked Questions
What is the average Loan Officers salary in Michigan?
The mean loan officers salary in Michigan is $82,830 per year. The median (middle) salary is $72,680 per year. Source: BLS OEWS 2024.
What is the starting salary for a Loan Officers in Michigan?
Entry-level loan officerss (10th percentile) in Michigan typically earn around $34,690 per year. Workers at the 25th percentile earn approximately $49,540 per year.
What is the highest Loan Officers salary in Michigan?
Top earners (90th percentile) in this occupation in Michigan make approximately $136,390 per year. Those in the 75th percentile earn around $103,180 per year.
How does the Michigan Loan Officers salary compare to the national average?
The median loan officers salary in Michigan is $72,680, which is -2% below national average of $74,180.
Data Source: This data is sourced from the U.S. Bureau of Labor Statistics,
Occupational Employment and Wage Statistics (OEWS) program, May 2024 release.
All wages are estimates. Actual salaries may vary based on experience, education,
employer, and other factors. bls.gov/oes