Based on the latest Bureau of Labor Statistics OEWS data — updated August 12, 2026.
| Michigan | National | Difference | |
|---|---|---|---|
| Median annual salary | $74,470 | $75,854 | -2% |
| Median hourly wage | $35.80 | $36.47 | -2% |
Adjusted for local price levels (100 = national average), the cost-adjusted median is $77,412.
| City | Median | Entry Level | Experienced | Cost of Living |
|---|---|---|---|---|
| City-level data coming soon. | ||||
The median annual salary for a Loan Officer in Michigan is $74,470, or about $35.80 per hour, according to BLS OEWS data.
The national median for Loan Officers is $75,854. Michigan is -2% below the national median.
Entry-level loan officers in Michigan typically earn from varies by experience depending on the city and employer.
With 11,340 loan officer jobs on record and a median salary of $74,470, Michigan offers competitive pay compared to the rest of the country.