Average Loan Officers Salary in Midland, MI
The average salary for Loan Officerss in Midland, MI is $69,210. While this is lower than the national average, the cost of living in Midland, MI may offset the difference, preserving real purchasing power.
Executive Summary
- Average Salary: $69,210 per year.
- Growth Trend: Salaries have shifted 18.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $102,830.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 70 professionals. This role remains a specialized component of the broader Midland, MI economy.
Salary Overview
The average Loan Officers in Midland, MI earns-19.7%below the national average.
$33.3
$1,331
$5,768
Loan Officers Salary Trends (2020-2024)
Over the past 4 years, Loan Officers salaries in Midland, MI have shown healthy growth of 18.9%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Midland, MI
The earning potential for Loan Officerss in Midland, MI varies significantly by experience level. The salary gap is relatively narrow, suggesting consistent and predictable earnings from entry-level to senior positions. Entry-level roles (10th percentile) typically start around $45,780, while highly experienced professionals can command wages upwards of $102,830.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $45,780 | $22 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $51,908 | $25 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $62,200 | $29.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $86,513 | $41.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $102,830 | $49.4 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$69,210
Gross Pay
Real Wage (Purchasing Power)
$69,210
Adjusted for COL (100)
In Midland, MI, the Cost of Living Index is 100. This increases your effective purchasing power from $69,210 to $69,210.
Job Market Context
70
Total Jobs
1.962
Per 1K Jobs
1.04
Location Quotient
With a location quotient of 1.04, Midland, MI has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
70 people work as Loan Officers in Midland, MI.
1.962 out of every 1,000 local jobs are Loan Officers positions — a typical concentration.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Bay City, MI Loan Officers Salary | $60,160↓ 13% | 17 mi |
| Saginaw, MI Loan Officers Salary | $66,380↓ 4% | 20 mi |
| Mid Michigan nonmetropolitan area Loan Officers Salary | $78,550↑ 13% | 26 mi |
| Southern Michigan nonmetropolitan area Loan Officers Salary | $77,490↑ 12% | 26 mi |
| Northern Michigan nonmetropolitan area Loan Officers Salary | $70,170↑ 1% | 26 mi |
Comparing salaries near Midland, MI
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Midland, MI?
The median annual salary for a Loan Officers in Midland, MI is $69,210. This typically ranges from $45,780 for entry-level positions to $102,830 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Midland, MI is 19.7% lower than the national median of $86,220.
Is Midland, MI a good place for Loan Officerss?
It depends on your priorities. While the average Loan Officers salary in Midland, MI is $69,210 (below the national average), the area may offer a lower cost of living or other lifestyle benefits typical of Midland, MI. See distinct detailed breakdown below.
Is Midland, MI a good place to live for Loan Officers?
The Cost of Living Index in Midland, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Midland, MI?
Some top paying nearby cities include Bay City, MI ($60,160) and Saginaw, MI.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 70 employees in the Midland, MI area with a job density of 1.962 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in Midland, MI