Loan Officer Salary in Detroit, MI
2024 BLS OEWS Data · Finance · COL Index: 95.1
$76,710
Median Salary
$87,930
Mean Salary
$80,662
COL-Adjusted
6,340
Employment
Salary Distribution
Percentile Breakdown
| Percentile | Salary | COL-Adjusted |
|---|---|---|
| 10th Percentile (Entry Level) | $29,340 | $30,852 |
| 25th Percentile | $49,940 | $52,513 |
| 50th Percentile (Median) | $76,710 | $80,662 |
| 75th Percentile | $103,830 | $109,180 |
| 90th Percentile (Top Earners) | $139,630 | $146,824 |
What Drives the Range
The $110,290 spread between the 10th and 90th percentiles for Loan Officer positions in Detroit, MI 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.
Detroit, MI's cost-of-living index of 95.1 means that a $76,710 median salary here has the same purchasing power as $80,662 in an average-cost U.S. city. The relatively moderate cost of living makes this a competitive market for purchasing power.