Business Loan Officer Salaries in Illinois
How Much Does a Business Loan Officer Make in Illinois?
Updated April 01, 2025
As of April 01, 2025,
the average annual pay of Business Loan Officer in Illinois is $97,093.
While Salary.com is seeing that Business Loan Officer salary in IL can go up to $125,869
or down to $66,357, but most earn between $81,005 and $112,156.
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 Business Loan Officer
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Similar Job Salaries to Business Loan Officer by Company
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| Company | average base salary in (usd) | range |
|---|---|---|
|
Geneva Financial LLC
Loan Officer
|
$78,481/yr
|
RANGE: $70,525 - $86,437
|
|
Mutual of Omaha Mortgage
Loan Officer
|
$58,438/yr
|
RANGE: $52,705 - $64,170
|
|
Lennar Mortgage
Loan Officer
|
$78,166/yr
|
RANGE: $70,242 - $86,090
|
|
First National Bank of Ava
Loan Officer
|
$73,481/yr
|
RANGE: $66,032 - $80,930
|
|
The Symicor Group
Commercial Loan Business Development Officer - To 175K - Chicago, IL
|
$92,775/yr
|
RANGE: $82,607 - $102,944
|
|
Morty
Mortgage Loan Officer in Illinois
|
$79,248/yr
|
RANGE: $71,214 - $87,281
|
|
Happy Residential Mortgage LLC
Mortgage Loan Officer
|
$79,156/yr
|
RANGE: $71,131 - $87,180
|
|
First Mid Bank & Trust
Mortgage CRA Loan Officer
|
$116,848/yr
|
RANGE: $102,445 - $131,251
|
|
FCB Banks
Loan Officer Trainee
|
$70,811/yr
|
RANGE: $63,565 - $78,058
|
|
Guild
Loan Officer Assistant
|
$51,318/yr
|
RANGE: $46,507 - $56,128
|
Top 10 Highest Paying Cities For Business 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 Business 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 Business Loan Officer job salaries in Illinois.
Some cities can pay higher salaries for Business Loan Officer jobs, which can indicate that there is a large demand for Business Loan Officer positions in this city.
The following table shows top 10 cities where the Business Loan Officer salary is higher than other cities in Illinois.
Chicago takes first place in this list, followed by Cicero, Oak Park.
The Business Loan Officer salary is $98,436 in Chicago,
which is higher than the national average. There are 20 cities' Business Loan Officer salary higher than national average in Illinois.
The average salary for a Business Loan Officer in Illinois is $97,093,
but we found that the city with the highest salary for Business Loan Officer jobs is Chicago, IL, and it is higher than Cicero.
Business 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 | $98,436 | $8,203 | $1,893 | $47 |
| Cicero | $98,436 | $8,203 | $1,893 | $47 |
| Oak Park | $98,436 | $8,203 | $1,893 | $47 |
| Evanston | $98,398 | $8,200 | $1,892 | $47 |
| Skokie | $98,398 | $8,200 | $1,892 | $47 |
| Oak Lawn | $98,322 | $8,194 | $1,891 | $47 |
| Des Plaines | $98,170 | $8,181 | $1,888 | $47 |
| Mount Prospect | $98,093 | $8,174 | $1,886 | $47 |
| Aurora | $97,674 | $8,140 | $1,878 | $47 |
| Hoffman Estates | $97,589 | $8,132 | $1,877 | $47 |
What Does a Business Loan Officer Do?
Commercial loan officers receive health insurance and other job perks, including profit-sharing and bonuses for completing successful loans.
Updated December 15, 2021
Loan officers must have a comprehensive knowledge of lending products, banking industry rules and regulations, and the required documentation for obtaining a loan.
Updated December 09, 2021
– while commercial loan officers make their decisions based on what they see on paper, customer service is still a big part of the job because they often meet with applicants face to face.
Updated December 20, 2021
Commercial loan officers work in credit unions, commercial banks, mortgage companies, and financial institutions of all types.
Updated December 16, 2021
In fact, one reason why banks continue to have so many branch offices is that they need to bring loan officers face to face with potential borrowers.
Updated December 11, 2021
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Explore JobArchitectFrequently Asked Questions About a Business Loan Officer Salaries
What is the average of a Business Loan Officer in Illinois?
The Business Loan Officer salary range is from $81,005 to $112,156, and the average Business Loan Officer salary is $97,093/year in Illinois.
The Business Loan Officer's salary will change in different locations.
Which location pays the highest Business Loan Officer salary in the United States?
The Business Loan Officer salary in San Jose, CA is $120,145
which is the highest in the US.
What kinds of reasons will influence the Business 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 Business Loan Officer.
What is the growth rate of the Business Loan Officer's salary?
If you are thinking of becoming a Business Loan Officer or planning the next step in your career, find the detailed salary report of a Business Loan Officer.
