Loan Officer Salary in Illinois
Loan Officers in Illinois earn an average of $70,812 per year across 1 metro area. This is +1.2% higher than the national average.
Average Salary
$70,812
per year
Hourly Rate
$34.04
per hour
vs National
+1.2%
$69,990 national
Salary Range
$47,026
to $100,662
Cost of Living Adjusted Salary
Nominal Salary
$70,812
Cost of Living Index
95
100 = national average
Adjusted Salary
$74,539
purchasing power equivalent
After adjusting for Illinois's cost of living (below average), a Loan Officer's salary of $70,812 has the purchasing power of $74,539 in an average-cost area.
Loan Officer Salary by City in Illinois
| City | Median Salary | Hourly Rate | Entry Level (P10) | Senior (P90) | Employment |
|---|---|---|---|---|---|
| Chicago, IL | $70,812 | $34.04/hr | $47,026 | $100,662 | 382 |
Source: Bureau of Labor Statistics OEWS Survey, 2026. Sorted by median salary (highest first).
Illinois vs National Average
Loan Officer Salary Comparison
Employment in Illinois
There are approximately 382 Loan Officers employed across 1 metro area in Illinois.
Key Industries: Finance, Manufacturing, Technology
State Income Tax: 4.95% flat rate
Loan Officer Salary Range in Illinois
Entry Level (10th Percentile)
$47,026
Starting salary for new Loan Officers
Median (50th Percentile)
$70,812
Mid-career Loan Officer salary
Senior (90th Percentile)
$100,662
Top earners in the field
Related Occupations in Illinois
Loan Officer Salary in Neighboring States
Compare Loan Officer salaries in Illinois with nearby states to find the best opportunities.
More Illinois Data
Frequently Asked Questions
What is the average Loan Officer salary in Illinois?
The average Loan Officer salary in Illinois is $70,812 per year ($34.04/hour) based on 2026 data across 1 metro areas. This is 1.2% above the national average of $69,990.
What is the highest paying city for Loan Officers in Illinois?
Chicago, IL is the highest paying city for Loan Officers in Illinois, with a median salary of $70,812 per year.
What is the salary range for Loan Officers in Illinois?
Loan Officer salaries in Illinois range from $47,026 (entry-level, 10th percentile) to $100,662 (experienced, 90th percentile). The median salary is $70,812 per year.
About This Data
Salary data is sourced from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey. State-level averages are calculated from metro area data within Illinois. Figures represent 2026 estimates and may not reflect all employers or self-employed workers. Cost of living adjustments use regional indices to provide purchasing power context.