Loan Officers pay range in Minneapolis
New workers and the lowest-paid 10% earn about $61,360 a year or less, while the top 10% make $190,790 or more. The middle half of loan officers in Minneapolis earn between $77,410 and $128,180.
- $61K10th
- $77K25th
- $102KMedian
- $128K75th
- $191K90th
median average · bar = middle 50% of workers · how to read it
| Pay level | Per year | Per month | Per hour* |
|---|---|---|---|
| Average | $110,870 | $9,239 | $53.30 |
| Median | $102,200 | $8,517 | $49.13 |
| Entry level (25th percentile) | $77,410 | $6,451 | $37.22 |
| Experienced (75th percentile) | $128,180 | $10,682 | $61.62 |
*Hourly figures assume 2,080 paid hours a year. Hourly to annual salary.
Loan Officers pay in Minneapolis vs. Minnesota and the U.S.
Loan officers in Minneapolis earn 6% more than the Minnesota average ($104,700) and 26% more than the U.S. average ($87,790). At the median the gap is +33% against the U.S. median of $76,690.
| Area | Average | Median | 10th pct. | 90th pct. | Jobs |
|---|---|---|---|---|---|
| Minneapolis | $110,870 | $102,200 | $61,360 | $190,790 | 3,910 |
| Minnesota | $104,700 | $95,170 | $57,670 | $163,350 | 6,430 |
| United States | $87,790 | $76,690 | $39,430 | $153,180 | 274,330 |
State and U.S. rows: BLS statewide and national estimates, May 2025, which include rural areas.
Loan Officers salary after taxes in Minneapolis
On the average salary of $110,870, a single filer in Minneapolis takes home about $80,811 a year, or $6,734 a month and $3,108 every two weeks. Taxes take 27% of gross pay.
The Minneapolis-St. Paul-Bloomington, MN-WI metro area crosses state lines, so take-home pay depends on the state where you work:
| State | Per year | Per month |
|---|---|---|
| Working in WI | $81,754 | $6,813 |
| Working in MN | $80,811 | $6,734 |
Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2026 rules). Minnesota Paid Leave premiums are not included.
Is Minneapolis a good place for loan officers? Pay vs. cost of living
Prices in the Minneapolis area are 5% above the U.S. average (BEA price parity 104.8), so the average $110,870 buys what about $105,770 would buy in a typical U.S. metro. This job pays 1.7 times the median wage of all jobs in Minneapolis ($59,320). A typical home costs $393,774, or 3.6 years of this average salary before tax.
Loan Officers salary in other Minnesota cities
Minneapolis ranks 1st of 5 Minnesota metro areas for this job, the best-paid in the state.
Highest-paying cities for loan officers
Elmira, NY pays this job the most of the metro areas we cover ($129,370).
- Elmira, NY$129,370
- New York, NY$121,180
- Boston, MA$120,300
- San Francisco, CA$116,480
- Norwich, CT$116,460
Does this match what you are paid?
Anonymous, no account. Results update as visitors answer.
Share your pay anonymously
Loan Officers salary in Minneapolis: questions
How much do loan officers make an hour in Minneapolis?
$53.30 an hour on average, and $49.13 at the median (BLS, May 2025).
What is the entry-level loan officers salary in Minneapolis?
The lowest-paid 10% earn about $61,360 a year and the 25th percentile is $77,410, a fair guide to starting pay.
What is the loan officers take-home pay in Minneapolis?
About $80,811 a year ($6,734 a month) for a single filer on the average salary of $110,870. Minnesota Paid Leave premiums are not included.
Do loan officers earn more in Minneapolis than elsewhere?
The average here is 26% more than the U.S. average for this job ($87,790).
Sources and how to read this page
- Wages: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 estimates for metropolitan areas. SOC code 13-2072; area Minneapolis-St. Paul-Bloomington, MN-WI (33460). Relative standard error of the mean wage: 5.0%.
- U.S. and statewide figures: BLS OEWS national and state estimates, May 2025, every employer including rural areas.
- Cost of living: Bureau of Economic Analysis regional price parities (RPP), 2024; 100 = U.S. average.
- Home value: Zillow Home Value Index. Typical-wage figure: OEWS all occupations, same metro.
- Take-home pay: Single filer, standard deduction: federal income tax (2026 brackets), Social Security, Medicare and state income tax (2026 rules). Minnesota Paid Leave premiums are not included.
- Job concentration: location quotient 1.14, this job is about as common as in the U.S. overall.
Read the full methodology. Spotted an error? Tell us.