Michigan ranks 29th of 51 states and D.C. for loan officers pay, trailing top-paying District of Columbia ($102,200) by $29,520 — a 41% gap.
Loan Officers are more concentrated in Michigan than the U.S. average — a location quotient of 1.32 means the occupation's share of local jobs is 1.32× the national share.
Michigan employs roughly 3.8% of all loan officers in the country (10,910 workers).
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 | n/a |
| 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.
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.