Loan Officer Salary in Minnesota
Median annual pay in Minnesota
$95,170
$45.76/hour
BLS OEWS, May 2025
Adjusted for cost of living in Minnesota
$96,501
Regional Price Parity: 98.621 (U.S. = 100)
Wages: BLS OEWS, May 2025. Cost of living: BEA Regional Price Parities, 2024.
Difference from the U.S. median ($76,690): +$18,480 (+24.1%)
Minnesota ranks 4th of 51 states by median pay, and 2nd of 51 after adjusting for cost of living.
Pay
| Annual | Hourly | |
|---|---|---|
| 10th percentile | $57,670 | $27.73 |
| 25th percentile | $73,240 | $35.21 |
| Median | $95,170 | $45.76 |
| 75th percentile | $125,550 | $60.36 |
| 90th percentile | $163,350 | $78.53 |
Employment
- Employment in Minnesota
- 6,430
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Comparison
Compared with the U.S.
- Median annual pay in Minnesota
- $95,170
- Median annual pay in the U.S.
- $76,690
- Difference
- +$18,480 (+24.1%)
Cost of living
$95,170 ÷ 98.621 × 100 = $96,501
Wages: BLS OEWS, May 2025. Cost of living: BEA Regional Price Parities, 2024.
Ranking
| Rank | Median annual pay | Adjusted for cost of living (annual) |
|---|---|---|
| Connecticut | ||
| 2nd | $95,730 | $92,395 6th |
| New York | ||
| 3rd | $95,710 | $88,685 11th |
| Minnesota This page | ||
| 4th | $95,170 | $96,501 2nd |
| Colorado | ||
| 5th | $94,520 | $91,721 7th |
| Oregon | ||
| 6th | $94,440 | $91,369 8th |
Similar occupations
Related occupations from O*NET, in O*NET's order, with their BLS median pay. Each figure shows the place it is for.
- Credit Counselor salary in the U.S.
$52,230/year U.S.
- Credit Analyst salary in the U.S.
$83,510/year U.S.
- Personal Financial Advisor salary in the U.S.
$105,070/year U.S.
- Securities, Commodities, and Financial Services Sales Agent salary in the U.S.
$78,660/year U.S.
- Financial Manager salary in the U.S.
$166,570/year U.S.
- Brokerage Clerk salary in the U.S.
$65,750/year U.S.
Outlook
- Projected employment change, 2025–35 (U.S.)
- +1.1%
- Typical education needed for entry (U.S.)
- Bachelor's degree
BLS publishes employment projections only for the U.S. as a whole. BLS Employment Projections, 2025–35
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Loan Officer salary in nearby places
- Loan Officer salary in Iowa
$83,670/year Iowa
- Loan Officer salary in Michigan
$74,470/year Michigan
- Loan Officer salary in North Dakota
$84,650/year North Dakota
- Loan Officer salary in South Dakota
$79,920/year South Dakota
- Loan Officer salary in Wisconsin
$78,290/year Wisconsin
- Loan Officer salary in the U.S.
$76,690/year U.S.
Sources and update
- Wages and employment: BLS Occupational Employment and Wage Statistics (OEWS), May 2025.
- Cost of living: BEA Regional Price Parities, 2024.
- Related occupations: O*NET® 31.0 Database, CC BY 4.0. Attributions
- Employment projections and typical education: BLS Employment Projections, 2025–35.
- Neighboring states: U.S. Census Bureau, County Adjacency File, 2024.
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