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Loan Officers Salary in Chicago, IL

In the 2025 U.S. Bureau of Labor Statistics, OEWS dataset, Loan Officers in Chicago, IL have a median annual salary of $80,040, with 7,380 recorded jobs in this area. Recorded earnings range from $40,710 at the 10th percentile to $143,160 at the 90th percentile.

Source: U.S. Bureau of Labor Statistics, OEWS · Data year: 2025 · Last updated: 2026-09-22

Salary overview

Median annual salary

$80,040

Data year: 2025

Hourly median

$38.48

Employment

7,380

Source

U.S. Bureau of Labor Statistics, OEWS

Salary distribution

$40,710
10th
$60,430
25th
$80,040
Median
$105,210
75th
$143,160
90th

Local compared with national

Chicago, IL

$80,040

Median annual · 2025

United States

$76,690

Median annual · 2025

The Chicago, IL median is 4.4% above the national median in the available dataset (a difference of $3,350).

Top skills

  1. 1.Active ListeningImportance 4.0
  2. 2.SpeakingImportance 4.0
  3. 3.Reading ComprehensionImportance 3.9
  4. 4.Judgment and Decision MakingImportance 3.9
  5. 5.Critical ThinkingImportance 3.8
  6. 6.WritingImportance 3.4
  7. 7.MathematicsImportance 3.3
  8. 8.Social PerceptivenessImportance 3.3
  9. 9.Complex Problem SolvingImportance 3.3
  10. 10.Active LearningImportance 3.1
  11. 11.Time ManagementImportance 3.1
  12. 12.Service OrientationImportance 3.0

Career information

Education and experience

Typical education
Bachelor's Degree
Experience
Over 4 years, up to and including 6 years
Job zone
4

Technology used

  • 1003 Uniform Residential Loan Application
  • Amortization loan software
  • Bankers Systems Rembrandt Lending System
  • Bottom Line LoanMaster Loan Servicing
  • California Infinite LPS
  • Calyx Point
  • CGI-AMS BureauLink Enterprise
  • CGI-AMS CACS Enterprise
  • CGI-AMS Strata
  • Click1003 Online Mortgage Application
  • Common business oriented language COBOL
  • Credit and risk analysis software
  • Credit fraud detection software
  • Credit underwriting software
  • Customer information control system CICS

Common tasks

  • Review billing for accuracy.
  • Meet with applicants to obtain information for loan applications and to answer questions about the process.
  • Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
  • Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
  • Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
  • Submit applications to credit analysts for verification and recommendation.
  • Review loan agreements to ensure that they are complete and accurate according to policy.
  • Review and update credit and loan files.
  • Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
  • Work with clients to identify their financial goals and to find ways of reaching those goals.

Related careers

Occupations recorded as related in the dataset. A relationship does not imply a guaranteed transition.

Loan Officers salary in other locations

Other occupations in Chicago, IL