Loan Officers Salary in Minneapolis, MN (2024)
Loan Officers in the Minneapolis-St. Paul-Bloomington, MN-WI metro area earn a median of $91,900 per year ($44.18 per hour) based on 4,360 jobs counted by the Bureau of Labor Statistics in 2024. That is +23.9% against the national median of $74,180 for this occupation.
Pay distribution
The median is a single point on a wide curve. The table below shows where loan officers actually sit across the pay range in Minneapolis, MN, from the bottom decile to the top.
| Percentile | Hourly | Annual | Note |
|---|---|---|---|
| 10th percentile | $27.72 | $57,650 | |
| 25th percentile | $34.83 | $72,440 | |
| Median | $44.18 | $91,900 | half earn more, half earn less |
| 75th percentile | $58.79 | $122,280 | |
| 90th percentile | $78.12 | $162,480 | |
| Average (mean) | $48.69 | $101,280 |
How Minneapolis, MN compares
The local median of $91,900 runs +23.9% above the US median of $74,180 for this occupation; it pays 59.4% more than the metro-wide median across all jobs ($57,640); within the metro it ranks 143rd of 659 detailed occupations by median pay.
| Benchmark | Median annual | Difference |
|---|---|---|
| Minneapolis, MN — this occupation | $91,900 | — |
| US median, same occupation (all areas) | $74,180 | +23.9% |
| Minneapolis, MN — all occupations | $57,640 | +59.4% |
| Highest metro in the US for this job | $102,540 | -10.4% |
At a location quotient of 1.20, this occupation is over-represented locally: the metro has about 120% of the national share of these workers.
High confidence The relative standard error on this estimate is 3.7%, which is a tight margin — the figure is stable enough to plan around.
Ranked 143rd of 659 detailed occupations in the metro by median annual wage.
Highest-paying jobs in Minneapolis, MN
To put $91,900 in context, these are the best-paid detailed occupations in the same metro area. This occupation sits 143rd.
| Occupation | Median annual | Employment |
|---|---|---|
| Nurse Anesthetists | $233,030 | 1,700 |
| Physicists | $215,340 | 30 |
| Chief Executives | $210,000 | 4,590 |
| Dentists, General | $209,870 | 1,860 |
| Pediatricians, General | $206,940 | 590 |
| Airline Pilots, Copilots, and Flight Engineers | $184,560 | — |
| Judges, Magistrate Judges, and Magistrates | $182,790 | 330 |
| Air Traffic Controllers | $178,920 | 580 |
| Computer and Information Systems Managers | $173,630 | 8,680 |
| Architectural and Engineering Managers | $170,970 | 3,410 |
Where loan officers earn the most
Across the 25 metro areas with released data for this occupation, medians run from $53,700 to $102,540. These are the top markets.
| Metro area | Median annual | Employment |
|---|---|---|
| New York-Newark-Jersey City, NY-NJ | $102,540 | 11,250 |
| Boston-Cambridge-Newton, MA-NH | $94,850 | 3,320 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $94,840 | 5,260 |
| San Francisco-Oakland-Fremont, CA | $94,110 | 3,090 |
| Minneapolis-St. Paul-Bloomington, MN-WI | $91,900 | 4,360 |
| Denver-Aurora-Centennial, CO | $81,200 | 2,270 |
| Charlotte-Concord-Gastonia, NC-SC | $81,160 | 4,550 |
| Los Angeles-Long Beach-Anaheim, CA | $80,340 | 11,110 |
| Seattle-Tacoma-Bellevue, WA | $79,110 | 3,210 |
| Atlanta-Sandy Springs-Roswell, GA | $78,220 | 5,550 |
See the full national picture on the Loan Officers salary by metro page.
Frequently asked questions
What is the median salary for loan officers in Minneapolis, MN?
The median annual wage is $91,900, or $44 per hour. That means half of the loan officers working in the Minneapolis-St. Paul-Bloomington, MN-WI metro area earn more than this figure and half earn less. The average is $101,280.
What do the highest and lowest paid loan officers in Minneapolis, MN earn?
The bottom 10% earn $57,650 or less, while the top 10% earn $162,480 or more — a spread of $104,830 between the two ends of the distribution. The middle half of workers sit between $72,440 and $122,280.
Is loan officers pay in Minneapolis, MN above the local average?
Yes, it is 59.4% above the all-occupation median for the metro, which is $57,640. That comparison is the fairer one for judging local purchasing power, because it holds the metro's overall cost and wage level constant.
How does Minneapolis, MN pay compare with the rest of the US for this job?
At $91,900 the metro median is 23.9% higher than the US median of $74,180 for loan officers. Across the 25 metro areas covered here, this occupation ranges from $53,700 to $102,540.
How many loan officers work in Minneapolis, MN?
BLS counts about 4,360 people in this occupation in the metro area, or 2.26 jobs per 1,000 total jobs. At a location quotient of 1.20, this occupation is over-represented locally: the metro has about 120% of the national share of these workers.
About these figures
Figures come from the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey for 2024 (employment relative standard error 6.3%). OEWS measures what employers pay, not what any individual earns; it excludes self-employed workers, and it does not adjust for local cost of living.
Read the full methodology, or the original data at bls.gov/oes.