Loan Officers in Minnesota
Is Minnesota a good place for you to work as a Loan Officer?
You’re in luck! Jobs for Loan Officers in Minnesota are projected to grow and these jobs tend to pay higher than average.
-
Projected employment for Loan Officers in Minnesota is growing faster than average.
-
Loan Officers in Minnesota earn higher salaries than the typical U.S. wage earner.
Featured schools near , edit
How Many Loan Officers Work in Minnesota?
In Minnesota, there were 7,740 people working as Loan Officers in the year 2018.
There were 8,130 Loan Officers employed in this state in 2017.
That’s a decline of 390 jobs between 2017 and 2018.
The typical state has 4,250 Loan Officers working in it, which means Minnesota has more Loan Officers than average.
Job Projections for Minnesota
Jobs for Loan Officers in this state are growing at a rate of 8.0% which is slower than the nationwide estimated projection of 11.4%.
Minnesota Annual Job Openings
The BLS is projecting 710 annual Loan Officers job openings in Minnesota, and 8,480 total jobs in the year 2026.
Nationwide, the prediction is 30,400 annual jobs and 354,900 total jobs in 2026.
What do Loan Officers Make in Minnesota?
In 2018 wages for Loan Officers ranged from $42,240 to $127,050 with $72,030 being the median annual salary.
Broken down to an hourly rate, workers in this field made anywhere from $20.31 to $61.08. The median hourly rate was $34.63.
In 2017 the median pay for this field was $34.05 an hour.
The hourly rate grew by $0.58.
The median salary in Minnesota is higher than the nationwide median salary.
Top Minnesota Metros for Loan Officers
The table below shows some of the metros in this state with the most Loan Officers.
| Metro | Number Employed | Annual Median Salary |
|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | 5,300 | $76,240 |
| Fargo, ND-MN | 420 | $61,670 |
| St. Cloud, MN | 270 | $60,140 |
| Duluth, MN-WI | 250 | $57,430 |
| Rochester, MN | 250 | $69,380 |
| La Crosse-Onalaska, WI-MN | 240 | $54,280 |
| Mankato-North Mankato, MN | 130 | $58,820 |
| Grand Forks, ND-MN | 110 | $64,480 |
Top States for Loan Officers Employment
The table below shows the states where most Loan Officers work.
| State | Number Employed | Annual Median Salary |
|---|---|---|
| California | 37,030 | $61,310 |
| Texas | 19,950 | $68,710 |
| Florida | 18,000 | $67,760 |
| North Carolina | 13,910 | $62,360 |
| New York | 12,890 | $78,520 |
| Illinois | 12,330 | $66,570 |
| Ohio | 11,520 | $64,770 |
| Virginia | 10,140 | $63,860 |
| Pennsylvania | 10,010 | $59,340 |
| Arizona | 8,970 | $54,400 |
| Georgia | 7,790 | $54,690 |
| Minnesota | 7,740 | $72,030 |
| Missouri | 7,130 | $68,010 |
| Wisconsin | 7,090 | $62,850 |
| Washington | 6,940 | $60,540 |
| New Jersey | 6,670 | $73,180 |
| Massachusetts | 5,780 | $70,090 |
| Tennessee | 5,440 | $54,490 |
| Kentucky | 5,300 | $60,400 |
| Utah | 5,220 | $45,470 |
Below are the states where Loan Officers get paid the most:
| State | Annual Median Salary |
|---|---|
| New York | $78,520 |
| New Hampshire | $76,430 |
| Nebraska | $75,800 |
| Connecticut | $74,990 |
| District of Columbia | $74,840 |
| New Jersey | $73,180 |
| Minnesota | $72,030 |
| Kansas | $71,550 |
| Massachusetts | $70,090 |
| Texas | $68,710 |
Related Careers in MN
Discover similar careers:
| Occupation | MN Employment Total |
|---|
References
- Bureau of Labor Statistics (BLS)
- College Factual
- National Center for Education Statistics
- O*NET Online
- Image Credit: By Dave Dugdale under License
More about our data sources and methodologies.
Featured Schools
Request Info
|
Southern New Hampshire University You have goals. Southern New Hampshire University can help you get there. Whether you need a bachelor's degree to get into a career or want a master's degree to move up in your current career, SNHU has an online program for you. Find your degree from over 200 online programs. Learn More > |
Course Advisor provides higher-education, college and university, degree, program, career, salary, and other helpful information to students, faculty, institutions, and other internet audiences. Presented information and data are subject to change. Inclusion on this website does not imply or represent a direct relationship with the company, school, or brand. Information, though believed correct at time of publication, may not be correct, and no warranty is provided. Contact the schools to verify any information before relying on it. Financial aid may be available for those who qualify. The displayed options may include sponsored or recommended results, not necessarily based on your preferences.
© Course Advisor – All Rights Reserved.