Average Loan Officer, Commercial Salary in Chicago, Illinois

$68,415
Avg. Salary
$5,875
Bonus
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The average salary for a Loan Officer, Commercial in Chicago, Illinois is $68,415.
10%
$41k
10%
$68k
50%
$88k
90%
90%
MEDIAN $68,415
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United States (change)
Salary
$41k - $88k
Bonus
$604 - $11k
Total Pay
$41k - $99k

Your Market Worth Over Time

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Job Description for Loan Officer, Commercial

Loan Officer, Commercial Tasks
  • Develop, maintain, and grow the commercial loan portfolio of private loan companies, government agencies, and non-profit organizations.
  • Solicit new business by developing marketing strategies.
  • Oversee handling of advances, payments, and wire transfers.
  • Negotiate credit terms, and prepare credit analysis and repayment plan for approvals.
  • Interview, consult, accept, analyze credit of, and perform credit reviews of potential borrowers.

Career Paths

Explore the most common career paths for Loan Officer, Commercial. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Loan Officer, Commercial
Vice President (VP), Commercial Lending
Commercial Lender
Loan Officer
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)

Loan Officer, Commercial Job Listings

Popular Skills for Loan Officer, Commercial

Skills in Portfolio Management and Sales are correlated to pay that is above average. Skills that pay less than market rate include Loan Underwriting.

Pay by Experience Level for Loan Officer, Commercial

An early career Loan Officer, Commercial with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $67,753 based on 9 salaries. A mid-career Loan Officer, Commercial with 5-9 years of experience earns an average total compensation of $66,500 based on 5 salaries.
Employees with Loan Officer, Commercial in their job title in Dallas, Texas earn an average of 31.6% more than the national average. These job titles also find higher than average salaries in Nashville, Tennessee (28.0% more) and Boston, Massachusetts (18.3% more). The lowest salaries can be found in Columbus, Ohio (27.1% less) and Los Angeles, California (5.0% less).

Years of Experience

This data is based on 14 survey responses.
Early Career
64.3%
Mid Career
35.7%