Loans Manager Salary in Chicago, IL

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How much does a Loans Manager make in Chicago, IL?

As of April 01, 2025, the average annual salary for a Loans Manager in Chicago, IL is $183,590. Salary.com reports that pay typically ranges from $153,448 to $206,772, with most professionals earning between $126,005 and $227,878.

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Salary range for a Loans Manager
$153,448 to $206,772
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What is a Loans Manager?

The Loans Manager is responsible for overseeing the loan department of a financial institution, including managing a team of loan officers and ensuring that loan applications are processed efficiently and accurately. They are also responsible for developing and implementing loan policies and procedures, as well as ensuring compliance with all relevant regulations and guidelines. The Loans Manager is also involved in evaluating loan applications, making lending decisions, and monitoring the performance of the loan portfolio. Additionally, they may be responsible for developing and maintaining relationships with clients and promoting loan products and services to potential customers. Overall, the Loans Manager plays a crucial role in the success of the loan department and the overall financial institution.

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Loans Manager Salary By Experience Levels in Chicago, IL

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RELEVANT JOB EXPERIENCE

Length of experience is a pay differentiator. Those with greater experience may have an advantage in negotiating salary. For those with less experience, other factors such as education or special skills could impact your pay. Please visit Professional Salary Report for more details.

Loans Manager Salary By Level of Education in Chicago, IL

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LEVEL OF EDUCATION

Depending on the job, educational levels may have a significant impact on pay levels. Be informed and understand how things like education and certifications can help to increase potential earnings for the career you are interested in. Please visit Professional Salary Report for more details.

Average Salary Range for Loans Manager in Chicago, IL

Average Base Salary

Core compensation

 
 
 
153448
206772
183590

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
169013
256328
209176
What is the average salary for Loans Manager in 2025?
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Loans Manager in Chicago, IL. The base salary for Loans Manager ranges from $153,448 to $206,772 with the average base salary of $183,590. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $169,013 to $256,328 with the average total cash compensation of $209,176.

View Average Salary for Loans Manager as table

Average Salary Average Salary Range
Base Salary $183,590 $153,448 - $206,772
Bonus $25,587 $15,566 - $49,557
Total Pay $209,176 $169,013 - $256,328
* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.
* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.

Loans Manager Salary Near Chicago, IL

CITY, STATE AVERAGE SALARY RANGE COMPARE TO Chicago, IL
CITY, STATE Cicero, IL AVERAGE SALARY RANGE $153,448 - $206,772 COMPARE TO Chicago, IL 0%
CITY, STATE Oak Park, IL AVERAGE SALARY RANGE $153,448 - $206,772 COMPARE TO Chicago, IL 0%
CITY, STATE Oak Lawn, IL AVERAGE SALARY RANGE $153,269 - $206,531 COMPARE TO Chicago, IL
CITY, STATE Evanston, IL AVERAGE SALARY RANGE $153,388 - $206,692 COMPARE TO Chicago, IL
CITY, STATE Skokie, IL AVERAGE SALARY RANGE $153,388 - $206,692 COMPARE TO Chicago, IL
CITY, STATE Arlington Heights, IL AVERAGE SALARY RANGE $150,240 - $202,450 COMPARE TO Chicago, IL
See salaries for Loans Manager in locations close to Chicago, IL. Pay for the same job may vary based on the location and on the location and on other factors such as the size of company, the industry, and other local conditions.

View Salary for Similar Jobs to Loans Manager in Chicago, IL

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JOB TITLE Underwriting Manager - Mortgage Loans LOCATION Chicago, IL MINIMUM SALARY $107,300 MAXIMUM SALARY $123,300
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JOB TITLE Officer, Entry - Mortgage Loans LOCATION Chicago, IL MINIMUM SALARY $45,800 MAXIMUM SALARY $57,400
JOB TITLE Specialist I - Mortgage Loans LOCATION Chicago, IL MINIMUM SALARY $45,790 MAXIMUM SALARY $57,390
JOB TITLE Officer, Experienced - Mortgage Loans LOCATION Chicago, IL MINIMUM SALARY $61,000 MAXIMUM SALARY $72,400
JOB TITLE Specialist II - Mortgage Loans LOCATION Chicago, IL MINIMUM SALARY $60,990 MAXIMUM SALARY $72,390
The Loans Manager job could be listed using titles that are not exactly the same, but actually are for the same or very similar job. Here are some job titles in Chicago, IL that might be a good fit for the type of job and salary you are looking for.

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153448
206772

 

About Chicago, Illinois    Chicago (/ʃɪˈkɑːɡoʊ/ (listen), locally also /-ˈkɔː-/), officially the City of Chicago, is the most populous city in Illinois, as well as the third mos....More

Chicago, Illinois  area prices were up 0.8% from a year ago

Loans Manager Salary in popular cities: Aurora, Rockford, Joliet

Learn more about: Compensation Packages, Employee Flight Risk, Gender Pay Gap, Job Openings for This Role