Loan Officers pay in Michigan
In Michigan, the median pay for loan officers is $35.80 an hour ($74,470 a year). About 11,340 people work in this job there.
That is 3% lower than the U.S. median ($76,690). Michigan ranks 27th of 51 states and territories for this job’s median pay.
Pay range for loan officers in Michigan
| Earns more than | Hourly | Yearly |
|---|---|---|
| 10% of workers | $17.71 | $36,830 |
| 25% of workers | $24.17 | $50,280 |
| Half of workers (median) | $35.80 | $74,470 |
| 75% of workers | $48.63 | $101,150 |
| 90% of workers | $65.24 | $135,700 |
Loan Officers pay in Michigan metro areas
| Metro area | Median yearly pay | People in this job |
|---|---|---|
| Ann Arbor | $77,820 | 320 |
| Detroit-Warren-Dearborn | $76,260 | 7,200 |
| Lansing-East Lansing | $72,890 | 420 |
| Kalamazoo-Portage | $72,330 | 140 |
| Grand Rapids-Wyoming-Kentwood | $71,760 | 790 |
| Midland | $66,880 | 60 |
| Flint | $65,050 | 230 |
| Niles | $64,250 | 130 |
| Traverse City | $63,820 | 130 |
| Saginaw | $62,740 | 140 |
| Muskegon-Norton Shores | $62,190 | 60 |
| Jackson | $60,540 | 110 |
| Battle Creek | $59,640 | 70 |
| Monroe | $56,450 | 30 |
Michigan unemployment rate: 5% (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 Michigan
| Job | Median yearly pay |
|---|---|
| Accountants and Auditors | $78,820 |
| Financial and Investment Analysts | $95,420 |
| Personal Financial Advisors | $77,930 |
| Financial Specialists, All Other | $75,040 |
| Insurance Underwriters | $77,380 |
| Property Appraisers and Assessors | $64,270 |
| Tax Preparers | $46,400 |
| Credit Analysts | $74,640 |
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.