Loan Officers pay in Chicago-Naperville-Elgin
In Chicago-Naperville-Elgin (IL), the median pay for loan officers is $38.48 an hour ($80,040 a year). About 7,380 people work in this job there.
That is 4% higher than the U.S. median ($76,690). It is about the same as the Illinois median ($79,150).
Pay range for loan officers in Chicago-Naperville-Elgin (IL)
| Earns more than | Hourly | Yearly |
|---|---|---|
| 10% of workers | $19.57 | $40,710 |
| 25% of workers | $29.05 | $60,430 |
| Half of workers (median) | $38.48 | $80,040 |
| 75% of workers | $50.58 | $105,210 |
| 90% of workers | $68.83 | $143,160 |
Loan Officers pay in Illinois metro areas
| Metro area | Median yearly pay | People in this job |
|---|---|---|
| Chicago-Naperville-Elgin (this page) | $80,040 | 7,380 |
| Champaign-Urbana | $78,950 | 210 |
| Springfield | $78,600 | 190 |
| Rockford | $75,880 | 90 |
| Decatur | $75,190 | 90 |
| Peoria | $74,530 | 270 |
| Bloomington | $67,140 | 160 |
| Kankakee | $62,570 | 80 |
Illinois unemployment rate: 4.7% (August 2026), U.S. Bureau of Labor Statistics.
Education, experience and outlook for loan officers
- Typical education to start: Bachelor's degree (BLS)
- Related work experience most have: 2 to 4 years (O*NET)
- Experience usually needed to start: Less than 5 years (BLS)
- Training on the job: Moderate-term on-the-job training (BLS)
- Job outlook: +1.1% over ten years, little or no change · about 17,100 openings a year (BLS)
Related jobs in Chicago-Naperville-Elgin (IL)
| Job | Median yearly pay |
|---|---|
| Accountants and Auditors | $82,360 |
| Financial and Investment Analysts | $101,750 |
| Personal Financial Advisors | $113,210 |
| Financial Specialists, All Other | $81,740 |
| Insurance Underwriters | $99,840 |
| Financial Examiners | $98,470 |
| Credit Analysts | $92,900 |
| Financial Risk Specialists | $105,370 |
Other job titles for this job
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Post a job freeFind jobsCheck pay for any jobSource: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 estimates. Figures are for wage and salary workers and do not include the self-employed. The median is the middle wage: half earn more, half earn less. Other job titles: O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA), used under the CC BY 4.0 license; O*NET® is a trademark of USDOL/ETA. JAI Bot has modified this information; USDOL/ETA has not approved, endorsed, or tested these modifications.