Loan Officer Salary in Chicago, IL
2024 BLS OEWS Data · Finance · COL Index: 107.3
$77,270
Median Salary
$92,600
Mean Salary
$72,013
COL-Adjusted
7,040
Employment
Salary Distribution
Percentile Breakdown
| Percentile | Salary | COL-Adjusted |
|---|---|---|
| 10th Percentile (Entry Level) | $47,940 | $44,678 |
| 25th Percentile | $56,440 | $52,600 |
| 50th Percentile (Median) | $77,270 | $72,013 |
| 75th Percentile | $105,110 | $97,959 |
| 90th Percentile (Top Earners) | $152,530 | $142,153 |
What Drives the Range
The $104,590 spread between the 10th and 90th percentiles for Loan Officer positions in Chicago, IL reflects several factors. Entry-level professionals and those in smaller organizations typically fall in the lower quartiles, while senior specialists, those with in-demand certifications, and employees at large enterprises command salaries in the upper percentiles.
Chicago, IL's cost-of-living index of 107.3 means that a $77,270 median salary here has the same purchasing power as $72,013 in an average-cost U.S. city. The relatively moderate cost of living makes this a competitive market for purchasing power.