Loan Officer Salary in Michigan
Explore loan officer salaries in Michigan including median pay, entry-level and senior compensation, and how it compares to the national average.
Salary Breakdown
| Pay Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $41,871 | $71,180 | $100,490 |
| Monthly | $3,489 | $5,932 | $8,374 |
| Biweekly | $1,610 | $2,738 | $3,865 |
| Weekly | $805 | $1,369 | $1,933 |
| Hourly | $20 | $34 | $48 |
MI vs National Comparison
About This Career
Evaluate loan applications and manage lending relationships with clients.
Education
Bachelor's degree in Finance or related field
Key Skills
Compare Jobs
Compare salaries for other business & finance jobs in Michigan:
Explore Related Data for a Loan Officer in Michigan
Dig into every angle of a loan officer salary ($71,180 median) in Michigan — take-home pay, affordability, taxes, mortgage, retirement, and city-level data.
Take-home pay on $71,180 in Michigan
Federal, state, Social Security, and Medicare — what you keep after taxes.
What you can afford on $71,180 in Michigan
Home price, rent, and monthly spending guidelines for this income.
Tax brackets on $71,180 in Michigan
Exactly which federal and state brackets your salary crosses.
$300,000 mortgage in Michigan
Monthly payment, property tax, and total interest at typical rates.
Retirement at 30 earning $75,000
Savings benchmarks and projections for your income level.
Loan Officer salary in Detroit
Drill down to city-level salary data for Detroit, Michigan.
Frequently Asked Questions
What is the median loan officer salary in Michigan?
The median loan officer salary in Michigan is $71,180, compared to a national median of $77,370.
What is the entry-level loan officer salary in Michigan?
Entry-level loan officer positions in Michigan typically pay around $41,871 annually.
What is the senior loan officer salary in Michigan?
Senior loan officer professionals in Michigan earn around $100,490 annually.
What is the job growth outlook for loan officer?
The projected 10-year job growth outlook for loan officer positions is 16%, which indicates strong demand in this field.
What education is needed to become a loan officer?
Bachelor's degree in Finance or related field