Bank Loan Officer Salaries in Illinois
How Much Does a Bank Loan Officer Make in Illinois?
Updated March 01, 2025
As of March 01, 2025,
the average annual pay of Bank Loan Officer in Illinois is $50,514.
While Salary.com is seeing that Bank Loan Officer salary in IL can go up to $64,619
or down to $31,713, but most earn between $40,673 and $57,897.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Bank Loan Officer
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Similar Job Salaries to Bank Loan Officer by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Phaxis
Bank Loan Services Analyst
|
$75,302/yr
|
RANGE: $61,505 - $89,100
|
|
Guild
LOAN OFFICER
|
$100,698/yr
|
RANGE: $80,268 - $121,128
|
|
The Gerber State Bank
Loan Officer
|
$76,697/yr
|
RANGE: $61,062 - $92,332
|
|
Illinois Educators Credit Union
Loan Officer
|
$95,481/yr
|
RANGE: $76,110 - $114,852
|
|
New American Funding
Sr. Loan Officer
|
$77,833/yr
|
RANGE: $64,766 - $90,899
|
|
HomeTrust Mortgage Corporation
Loan Officer Assistant
|
$66,769/yr
|
RANGE: $57,497 - $76,041
|
|
The FNB Community Bank
Commercial Loan Officer
|
$112,731/yr
|
RANGE: $93,712 - $131,750
|
|
Draper & Kramer Mortgage Corp.
Loan Officer - Salaried/Exempt
|
$102,864/yr
|
RANGE: $81,995 - $123,733
|
|
The EMAC Group LLC
PORTFOLIO LOAN OFFICER
|
$148,826/yr
|
RANGE: $109,069 - $188,582
|
Top 10 Highest Paying Cities For Bank Loan Officer Jobs in Illinois
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Bank Loan Officer can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Bank Loan Officer job salaries in Illinois.
Some cities can pay higher salaries for Bank Loan Officer jobs, which can indicate that there is a large demand for Bank Loan Officer positions in this city.
The following table shows top 10 cities where the Bank Loan Officer salary is higher than other cities in Illinois.
Chicago takes first place in this list, followed by Cicero, Evanston.
The Bank Loan Officer salary is $51,798 in Chicago,
which is higher than the national average. There are 20 cities' Bank Loan Officer salary higher than national average in Illinois.
The average salary for a Bank Loan Officer in Illinois is $50,514,
but we found that the city with the highest salary for Bank Loan Officer jobs is Chicago, IL, and it is higher than Cicero.
Bank Loan Officer jobs in Chicago can have the opportunity to earn higher salaries than in other cities in Illinois.
| CITY | ANNUAL SALARY | MONTHLY PAY | WEEKLY PAY | HOURLY WAGE |
| Chicago | $51,798 | $4,317 | $996 | $25 |
| Cicero | $51,798 | $4,317 | $996 | $25 |
| Evanston | $51,798 | $4,317 | $996 | $25 |
| Oak Park | $51,798 | $4,317 | $996 | $25 |
| Skokie | $51,798 | $4,317 | $996 | $25 |
| Oak Lawn | $51,749 | $4,312 | $995 | $25 |
| Des Plaines | $51,650 | $4,304 | $993 | $25 |
| Mount Prospect | $51,601 | $4,300 | $992 | $25 |
| Aurora | $51,354 | $4,279 | $988 | $25 |
| Hoffman Estates | $51,354 | $4,279 | $988 | $25 |
What Does a Bank Loan Officer Do?
However, most loan officers assist consumers and small business owners with a wide variety of secured and unsecured loans.
Updated October 24, 2021
Except for consumer loan officers, who spend most of their time in offices, these workers may travel to visit clients.
Updated December 22, 2021
If you can meet with or speak to a loan officer, you can make your case for loan approval to a human being rather than a machine.
Updated December 22, 2021
If the underwriter approves your loan, your loan officer will then collect and prepare the appropriate loan closing documents.
Updated December 20, 2021
This is why banks may have several branches — they want to serve the potential borrowers in various areas who want to meet face-to-face with a loan officer.
Updated December 20, 2021
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Explore JobArchitectFrequently Asked Questions About a Bank Loan Officer Salaries
What is the average of a Bank Loan Officer in Illinois?
The Bank Loan Officer salary range is from $40,673 to $57,897, and the average Bank Loan Officer salary is $50,514/year in Illinois.
The Bank Loan Officer's salary will change in different locations.
Which location pays the highest Bank Loan Officer salary in the United States?
The Bank Loan Officer salary in San Jose, CA is $61,970
which is the highest in the US.
What kinds of reasons will influence the Bank Loan Officer's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Bank Loan Officer.
What is the growth rate of the Bank Loan Officer's salary?
If you are thinking of becoming a Bank Loan Officer or planning the next step in your career, find the detailed salary report of a Bank Loan Officer.
