Loan Officers in Minnesota
May 2025 wages · tax year 2026
You keep
$70,834
after federal, FICA and Minnesota tax
Tax takes
$24,336
25.6% of the whole
Worth, in national money
$71,973
Minnesota costs less than average
On that salary you would be around the 25th percentile for this work in Minnesota — roughly, since only five points along the band are published.
One filer, standard deduction, no dependants and nothing paid in before tax — the same household the rest of this page uses, so the comparison holds. City and school-district income taxes are not included.
Median here
$95,170
Kept after tax
$70,834
Worth in national money
$71,973
State rank
4
of 51 states
What this pays, and what it is worth
- Pay for loan officers is strong here. Minnesota's middle earner gets $95,170, putting the state 4 of 51 — about 24.1% ahead of the national figure.
- Locally, this pays well. Among 490 occupations Minnesota reports, loan officers comes in at 97 — comfortably in the upper quarter.
- Prices here sit close to the national average, so the adjustment changes little. From $95,170 the take-home is $70,834, which is worth about $71,973 in comparable money. Tax does most of the work here, not cost of living. The average is higher, $104,700, because the best-paid pull it up.
- For loan officers, Minnesota sits in the upper band nationally: a median of $95,170, ranking 4 of 51 and running about 24.1% above the national midpoint. Nominal advantage of this size is usually, though not always, large enough to survive the state's own tax and price levels.
- Loan officers ranks 97 of 490 occupations by median in Minnesota, in the top quartile. Within-state position is largely independent of national position, so this holds regardless of how the state compares to others for the same work.
- Minnesota's price level is near the national average, so price deflation is close to neutral for loan officers on its $95,170 median: $70,834 retained after tax becomes $71,973 in national-average terms. Where the price adjustment is small, the tax stack is the dominant determinant of the real outcome. The mean of $104,700 sits above the median, the right skew typical of wage data.
Compare this career across states
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Pay band: Loan Officers
The state median for this job
| Lowest tenth earn under | $57,670 |
|---|---|
| Half earn under | $95,170 |
| Top tenth earn over | $163,350 |
| This salary | $95,170 |
Positions between the published tenth, quarter, half, three-quarter and ninetieth points are estimated by straight line.
The same pay, somewhere else
The state median for this job
| Take-home in Minnesota | $70,834 |
|---|---|
| Take-home in Texas | $75,782 |
| Once local prices are leveledBEA price parity | +$6,012 |
State income tax and state price levels only. No city income tax, and no housing market.
What you would need there
The state median for this job
| To match take-home only | $88,136 |
|---|---|
| You could take a cut of | −$8,304 |
| Prices in Texas | 97 vs 98 |
State taxes and state price levels only. No city tax, and no housing market.
Sources and assumptions
- Half the people doing this work in Minnesota earn less than $95,170. The published range is $57,670 up to $163,350, so an individual figure can sit a long way from the middle in either direction.
- One filer, no dependants, no pension contributions — that is the household behind Minnesota's $70,834, worked from $95,170. That is on purpose. It lets states be compared with each other, not with each other's family circumstances. Local city taxes are left out. Locally this work ranks 97 of 490.
- The wage data and the price data come from different years. That is how each is published. The price adjustment behind $71,973 uses one figure for the whole of Minnesota. A city and a rural county there can differ by more than two states do. Out of 490 occupations the state publishes, this one sits at 97.
- Reported values are medians; for loan officers in Minnesota the tenth-to-ninetieth percentile band is $57,670 to $163,350. Neither the median nor the band is an offer rate, and neither accounts for hours, shift differentials or overtime.
- The Minnesota take-home of $70,834, on $95,170 for work ranking 97 of 490 locally, models the simplest household deliberately: holding it constant is what makes the interstate comparison meaningful. It also means the absolute figure overstates liability for most real filers, and municipal income taxes are outside the model entirely. The occupation ranks 97 of 490 in the state.
- Wage and price series carry different reference periods, each published on its own schedule. The real-terms figure of $71,973, worked from $95,170, deflates by a statewide parity that conceals substantial intra-state variation, concentrated in housing — so it supports comparison between states rather than the pricing of a move to a particular Minnesota address, on work sitting at 97 of 490 locally.
Questions people ask
Is this the average pay for the job?
No — it is the middle. Half of these workers earn more and half earn less. The average is $104,700, pulled upward by the top of the range, which is why the middle is the fairer number to plan against.
Why is the pay range for this job so wide?
The label is broader than the work. From $57,670 at the bottom tenth to $163,350 at the top, the same title covers roles that share little beyond a name.
What does this pay actually buy where I live?
More than the figure suggests. Prices in Minnesota sit below the national level, so take-home here stretches like $71,973 would elsewhere. The wage is the same; the ground it covers is larger.
Where does the difference between the wage and my paycheck go?
Three of them are federal and one is not. After income tax, Social Security, Medicare and Minnesota's own levy, $70,834 remains.
Can I compare this job across every state?
Yes for this one. Pay is published in all 51 jurisdictions, so a state-to-state comparison here rests on the same survey everywhere rather than on a patchwork.
How does the published median differ from the mean for this occupation?
The median is the midpoint of the distribution; the mean for this occupation in Minnesota is $104,700. Wage distributions are right-skewed, so the mean exceeds the median wherever a minority earn substantially more. BLS publishes both because substituting one for the other misstates a typical worker's pay.
What drives the percentile dispersion in this occupation?
Dispersion between the tenth percentile ($57,670) and the ninetieth ($163,350) exceeds the family median dispersion. SOC codes aggregate roles differing in seniority, industry and specialisation, and BLS does not disaggregate below the detailed occupation level, so within-title variance is not separable from the published series.
What is this occupation's price-adjusted compensation in this state?
Minnesota's regional price parity is at or below the national average, so nominal wages understate purchasing power. Take-home deflated by the state price level is $71,973 in national-average terms. The adjustment uses an all-items index and does not isolate housing.
What accounts for the gap between gross wage and take-home here?
Take-home of $70,834 reflects federal income tax, OASDI, Medicare and Minnesota income tax for a single filer with no adjustments. The state layer is levied in addition to the federal one; only its rate and base differ between states.
Is this occupation's state coverage complete?
State-level estimates are published for all 51 jurisdictions for this occupation, so cross-state comparison is not confounded by suppression. ⚠️ Estimates remain survey-based and carry sampling error; small differences between adjacent states should not be over-read.