SOC 13-2072 · May 2025 · BLS OEWS
Loan Officers — Traverse City
Traverse City, MI · 10 metro areas compared
The median wage for Loan Officers in Traverse City, MI is $63,820 per year, 16.8% below the national median of $76,690.
Wage distribution · annual
Shaded band holds the middle 50% of earners
Salary overview
The median wage for Loan Officers in Traverse City, MI is $63,820 per year, 16.8% below the national median of $76,690. Pay ranges from under $41,050 at the tenth percentile to more than $118,390 at the ninetieth, with the interquartile range running from $51,560 to $92,700.
Employment stands at 130, or 2.0 jobs per thousand held locally. Ann Arbor leads the state's metro areas for this occupation, at $77,820. Set against every other occupation measured in the same area, it ranks 88th of 292 by median pay.
Percentile breakdown
| Percentile | Annual | vs US median |
|---|---|---|
| 10th | $41,050 | −46.5% |
| 25th | $51,560 | −32.8% |
| Median (50th) | $63,820 | −16.8% |
| 75th | $92,700 | +20.9% |
| 90th | $118,390 | +54.4% |
| Mean | $74,970 | −2.2% |
Other metro areas in Michigan
What the pay is worth locally
Prices in Traverse City run 3.8% below the national average, so the median of $63,820 goes as far as $66,341 would elsewhere in the country. Measured that way it compares to the national median at 13.5% below the national median in real terms.
Published median
$63,820as reported by BLSLocal price level
96.2US average = 100 · BEA 2024Adjusted for local prices
$66,341US average = 100 · BEA 2024Key takeaways
- Median pay is $63,820 a year, 16.8% below the national median.
- Published pay spans $41,050 to $118,390 between the tenth and ninetieth percentiles.
- The area has 130 jobs in this occupation.
- The highest-paying metro area covered is Ann Arbor, at $77,820.
Frequently asked questions
What is the median wage for Loan Officers in Traverse City, MI?
The median annual wage is $63,820, or $30.68 per hour, as of May 2025. Half of the workers in this occupation earn more than that and half earn less.
Is that higher than the national average?
The national median for this occupation is $76,690, so pay in Traverse City, MI is 16.8% lower. These figures are medians, not averages: half of workers fall on each side.
What do the top earners make?
The top tenth of this occupation in Traverse City, MI earns more than $118,390 per year. The ninetieth percentile is the highest figure the survey publishes.
What is the starting range?
The tenth percentile wage is $41,050 per year. The survey measures wages actually paid rather than experience level, so this reflects the lowest-paid tenth rather than entry-level pay specifically.
Which area nearby pays the most?
The highest median for this occupation among the metro areas covered is in Ann Arbor, at $77,820 per year.
How many jobs are there in this occupation here?
The survey estimates 130 jobs in this occupation in Traverse City, MI. Self-employed workers are not included.
Source and methodology
U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 Wages are for wage-and-salary workers; self-employed workers are not included. Salary Explorer is an independent project. It is not affiliated with, or endorsed by, the U.S. Bureau of Labor Statistics or any government agency. Full methodology.
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