Loan Officer salary in Mankato, MN
Loan Officers in the Mankato, MN metro area earn a median of $94,850 a year ($45.60 an hour), based on BLS data for 130 workers.
Pay ranges from $59,020 for the lowest-paid 10% to $158,390 for the top 10%. That is 24% higher than the national median of $76,690. Pay here is about the same as the Minnesota statewide median of $95,170. There are 2.2 loan officers per 1,000 jobs here — the job is 1.3× more common than nationally. The average (mean) salary is $101,670, above the median because a few high earners pull it up.
Pay range for loan officers in Mankato, MN
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $59,020 | $28.38 |
| 25th percentile | $68,440 | $32.91 |
| Median | $94,850 | $45.60 |
| 75th percentile | $121,050 | $58.20 |
| 90th percentile (top earners) | $158,390 | $76.15 |
| Average (mean) | $101,670 | $48.88 |
Half of loan officers earn more than the median and half earn less. Percentiles show the spread: 10% earn less than the 10th percentile, and 10% earn more than the 90th.
Median paycheck, before taxes
| Pay period | Amount |
|---|---|
| Monthly | $7,904.17 |
| Semi-monthly (24 a year) | $3,952.08 |
| Biweekly (26 a year) | $3,648.08 |
| Weekly | $1,824.04 |
| Hourly | $45.60 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $94,850 salary, see how much house you can afford in Minnesota at today's mortgage rates, or work out a payment with the mortgage calculator.
Loan Officer salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | $102,200 | 3,910 |
| Rochester, MN | $98,110 | 170 |
| Fargo, ND-MN | $93,640 | 390 |
| Grand Forks, ND-MN | $92,820 | 100 |
| St. Cloud, MN | $92,570 | 300 |
| Sioux Falls, SD-MN | $81,380 | 690 |
| La Crosse-Onalaska, WI-MN | $76,370 | 170 |
| Duluth, MN-WI | $73,240 | 200 |
Highest-paying states for loan officers
| State | Median salary |
|---|---|
| Massachusetts | $101,600 |
| Connecticut | $95,730 |
| New York | $95,710 |
| Minnesota | $95,170 |
| Colorado | $94,520 |
| Oregon | $94,440 |
| New Jersey | $92,920 |
| District of Columbia | $92,890 |
| Vermont | $88,710 |
| Kansas | $86,970 |
See Loan Officer pay in every state or the Minnesota statewide figures.
Related jobs in Mankato, MN
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $76,660 | $36.85 |
| Personal Financial Advisor | $82,380 | $39.61 |
| Financial and Investment Analysts | $96,480 | $46.38 |
| Business Operations Specialists, All Other | $66,600 | $32.02 |
| Human Resources Specialist | $72,410 | $34.81 |
| Market Research Analysts and Marketing Specialists | $73,020 | $35.11 |
| Project Management Specialist | $80,970 | $38.93 |
| Buyers and Purchasing Agents | $73,390 | $35.29 |
| Training and Development Specialists | $74,180 | $35.66 |
| Compliance Officer | $81,830 | $39.34 |
| Management Analyst | $77,020 | $37.03 |
| Cost Estimator | $74,660 | $35.90 |
| Fundraiser | $66,850 | $32.14 |
| Meeting, Convention, and Event Planners | $57,130 | $27.46 |
More: Business and Financial Operations Occupations · all salaries in Mankato, MN
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 estimates, occupation code 13-2072. Wages include base pay, tips, commissions and shift pay, but not overtime, bonuses or benefits, and exclude the self-employed.
Frequently asked questions
How much does a loan officer make in Mankato, MN?
The median salary for loan officers in the Mankato, MN metro area is $94,850 a year, or $45.60 an hour. Pay ranges from $59,020 for the lowest-paid 10% to $158,390 for the top 10%.
How much do the highest-paid loan officers make in Mankato, MN?
The top 10% of loan officers in the Mankato, MN metro area earn at least $158,390 a year. The top 25% earn $121,050 or more.
What is the starting pay for loan officers in Mankato, MN?
Entry-level pay (the 10th percentile) is about $59,020 a year, and a quarter of loan officers earn $68,440 or less.
How many loan officers work in Mankato, MN?
About 130 loan officers are employed in the Mankato, MN metro area, not counting the self-employed.