Loan Officer in Green Bay, WI

The Salary Picture: Where Green Bay Stands

As a local who’s watched this market for years, I can tell you that Green Bay’s loan officer salaries are steady but not explosive. The Median Salary: $74,394/year is a solid anchor point, translating to an Hourly Rate: $35.77/hour. It’s important to note that this figure is slightly below the National Average: $76,200/year, but the lower cost of living more than compensates for that gap. The job market is tight but stable, with Jobs in Metro: 211 openings typically listed at any given time. The 10-Year Job Growth: 3% projection from the Bureau of Labor Statistics (BLS) indicates a market that’s growing, but not rapidly—think steady, reliable employment rather than boomtown opportunities.

Here’s a realistic breakdown of what you can expect based on experience in the Green Bay area:

Experience Level	Estimated Annual Salary (Green Bay)	Key Responsibilities & Notes
Entry-Level (0-2 years)	$55,000 - $65,000	Loan processing support, junior loan officer roles, learning underwriting basics. Often commission-based with a lower base.
Mid-Level (3-7 years)	$70,000 - $85,000	Managing a full client load, underwriting authority for conventional loans, building a realtor network. This is the median range.
Senior-Level (8-15 years)	$85,000 - $110,000	Jumbo loans, complex financing (self-employed, investment properties), leading teams, high-end client referrals.
Expert/Specialist (15+ years)	$115,000+	Niche expertise (VA loans, agricultural financing), branch management, or regional director roles. Strong commission potential.

Compared to other Wisconsin cities, Green Bay sits in a respectable middle tier. Milwaukee and Madison have higher salary averages (closer to $80k-$85k) but also significantly higher costs of living, particularly in housing. Cities like La Crosse or Eau Claire offer similar salary ranges but with fewer major employers. Green Bay’s advantage is its blend of a stable job market, a large healthcare system, and a manufacturing base (related to the paper and food industries), which creates consistent demand for both residential and commercial lending.

The Real Take-Home: After Taxes and Rent

Let’s get real about the math. For a Loan Officer earning the Median Salary: $74,394/year, the take-home pay after taxes is crucial. In Wisconsin, you’re looking at an effective tax rate of roughly 22-25% (including federal, state, and FICA). This brings your annual take-home down to approximately $55,000 - $56,000, or about $4,600 per month.

Now, factor in housing. The Average 1BR Rent: $841/month is a fantastic starting point. Here’s a sample monthly budget for a single Loan Officer:

• Net Monthly Income: $4,600
• Rent (1BR Apartment): -$841
• Utilities (Electric, Gas, Internet): -$150
• Groceries: -$350
• Car Payment/Insurance (Essential in GB): -$400
• Health Insurance (if not employer-covered): -$300
• Student Loans/Debt: -$300
• Retirement & Savings (15%): -$690
• Discretionary Spending: -$500
• Leftover Buffer: $69

Can they afford to buy a home? Absolutely. With the Cost of Living Index: 92.1 (US avg = 100), your money goes further. A median-priced home in the Green Bay metro area is around $250,000. With a 20% down payment ($50,000)—achievable over a few years of saving on this salary—a monthly mortgage payment (including taxes and insurance) would be roughly $1,400-$1,500. This is higher than rent but still very manageable on a $74,394/year salary, especially if you have a partner or spouse contributing. Insider Tip: Many local lenders offer special programs for first-time homebuyers, and with your professional knowledge, you can navigate these better than anyone.

Where the Jobs Are: Green Bay's Major Employers

The lending landscape here is dominated by a mix of large regional banks, credit unions, and healthcare financing. Your job search should focus on these key players:

1. Associated Bank: The largest bank headquartered in Wisconsin, with a massive presence in Green Bay. They are always hiring for retail loan officers, mortgage specialists, and commercial lenders. Their hiring is steady, often tied to their branch expansion and market share goals.
2. Nicolet National Bank: A growing regional powerhouse based in Green Bay. They have a strong focus on community and commercial lending, offering great opportunities for Loan Officers who want to work with local businesses and agricultural clients.
3. Green Bay Area Credit Unions (e.g., Fox Communities, Capital Credit Union): Credit unions are a huge part of the local fabric. They often have lower turnover and offer a more community-focused work environment. Jobs here are competitive but stable.
4. Bellin Health & Prevea Health: While not direct lenders, these massive healthcare systems have internal financing departments for medical equipment and commercial real estate. They also employ a large number of professionals who need personal loans, making them a key client base.
5. UW-Green Bay: The university has its own financing needs and a large faculty/staff population, representing a niche but reliable market for both personal and commercial lending.
6. Schneider National: A major transportation and logistics company headquartered in Green Bay. Their commercial lending needs for fleet financing and real estate are significant, creating opportunities for specialized commercial loan officers.
7. Local Brokerages (e.g., Coldwell Banker, Realty One Group): While not employers, the top real estate brokerages are your essential partners. Building relationships with agents at firms like these is critical for generating leads. The hiring trend for loan officers is often tied to the strength of these realtor networks.

Insider Tip: The 10-Year Job Growth: 3% means you must be proactive. The best jobs are filled through networking, not just online applications. Attend Brown County Home Builders Association meetings and mixers at places like The Black Sheep or Anduzzi's to meet realtors and builders.

Getting Licensed in WI

Wisconsin has clear but stringent requirements for Mortgage Loan Originators (MLOs). Here’s the step-by-step path:

1. Complete Pre-Licensing Education: You must complete 20 hours of NMLS-approved education. This covers federal and state law, ethics, and mortgage lending. Local providers like the Wisconsin School of Real Estate or online platforms like The CE Shop offer courses. Cost: $300 - $500.
2. Pass the National & State Exams: After your education, you’ll take the National SAFE MLO Exam and the Wisconsin State Exam. The pass rate can be challenging, so thorough study is key. Exam Fee: ~$110 (combined).
3. Submit Application to NMLS: Once you pass, you’ll apply through the Nationwide Multistate Licensing System (NMLS). You’ll need to provide fingerprints and authorize a background check. Application Fee: ~$300.
4. Secure a Sponsoring Employer: This is the most crucial step. You cannot be licensed without a sponsoring mortgage company (bank, credit union, or brokerage) that is also licensed in Wisconsin. They will co-sponsor your application.
5. Complete Post-Licensing Education: Wisconsin requires 8 hours of post-licensing education in your first year.

Total Estimated Time to Get Started: 3-6 months, depending on your study schedule and how quickly you find a sponsoring employer.
Total Estimated Cost (excluding employer sponsorship): $700 - $900.

Insider Tip: Start networking before you finish your licensing. Attend NMLS workshops and connect with local branch managers at Associated Bank or Nicolet. Showing initiative can land you a sponsorship offer before you even pass the exams.

Best Neighborhoods for Loan Officers

Where you live affects your commute, networking opportunities, and lifestyle. Here are top picks:

Neighborhood	Vibe & Commute	Rent Estimate (1BR)	Why It's Good for Loan Officers
Downtown Green Bay	Urban, walkable, vibrant nightlife. Easy to offices on Monroe Ave.	$900 - $1,100	Close to major bank HQs, perfect for networking after work. Walk to events at the Resch Center or Lambeau Field.
Allouez / Astor Park	Quiet, residential, family-friendly. 10-15 min commute.	$800 - $950	Affordable, safe, and centrally located. Easy access to the East Side and Bay Beach. Great for a balanced lifestyle.
Ashwaubenon	Modern, commercial hub. Home to the Titletown District and stadium.	$850 - $1,000	Proximity to the Resch Complex for events and meetings. High-end apartments near the stadium attract affluent clients.
De Pere (West Side)	College town feel (St. Norbert College), charming downtown. 15-20 min commute.	$750 - $900	Lower cost of living, a tight-knit community, and easy access to the Fox River. Great for building a local client base.
Howard / Suamico	Suburban, newer developments, more space. 20-25 min commute.	$700 - $850	Ideal if you want a home office or a quieter setting. Growing area with new construction, meaning potential mortgage clients.

Insider Tip: If you’re looking to buy, the Allouez and De Pere areas offer great value and stable property appreciation. For networking, nothing beats Downtown or Ashwaubenon.

The Long Game: Career Growth

The path beyond the median salary involves specialization and leadership.

• Specialty Premiums: In Green Bay, expertise in VA loans is highly valuable due to the veteran population. Agricultural lending is another niche, given the surrounding farmland. Commercial lending for manufacturing or logistics (like Schneider) can command a 15-20% salary premium over residential roles.
• Advancement Paths:
  1. Senior Loan Officer: Increase your commission split and handle complex deals.
  2. Branch Manager: Oversee a team, manage P&L, and focus on business development. This can push your salary to $120,000+.
  3. Commercial Lender: Specialize in business loans, real estate development, or equipment financing. Requires additional training but has a higher ceiling.
  4. Underwriter/Processor (if you prefer salaried roles): Move to the bank side for a stable salary (often $65,000 - $90,000) with less commission risk.
• 10-Year Outlook: The 3% job growth suggests that the market will remain stable but competitive. The key to growth will be technological adaptation. Loan Officers who master digital platforms for client onboarding and document management will be more efficient and valuable. The rise of fintech will also create opportunities for hybrid roles that blend traditional lending with tech-savvy client service.

The Verdict: Is Green Bay Right for You?

Pros	Cons
Low Cost of Living: Your $74,394 salary stretches much further than in Milwaukee or Minneapolis.	Limited High-End Market: Fewer ultra-wealthy clients compared to major metros, capping commission potential for some.
Stable Job Market: Anchored by healthcare, education, and manufacturing, providing consistent lending needs.	Slower Pace: Less dynamic than a major financial hub; fewer "big deal" opportunities.
Strong Community Networks: Easy to build lasting relationships with realtors, builders, and clients.	Seasonal Fluctuations: The market can slow in deep winter (Jan-Feb) and peak in spring/summer.
Quality of Life: Access to outdoors, sports (Packers!), and a family-friendly environment.	Networking is Key: You must be proactive; jobs aren't as widely advertised as in larger cities.

Final Recommendation: Green Bay is an excellent choice for a Loan Officer who values stability, work-life balance, and a lower cost of living. It’s not the place for someone chasing a high-flying, rapid-fire career in mega-deals. It’s ideal for building a solid, sustainable career and a comfortable life. If you’re willing to be a community insider—learning the neighborhoods, building genuine relationships with local realtors, and understanding the unique drivers of the local economy (like the paper industry or healthcare)—you can thrive here.

FAQs

Q: How competitive is the job market for Loan Officers in Green Bay?
A: It is moderately competitive but not cutthroat. With 211 jobs in the metro, there are openings, but the best positions at top firms (Associated, Nicolet) are sought after. Your edge comes from local knowledge and a strong network, not just a resume.

Q: Is a commission-based salary realistic on the median income?
A: Yes, but it requires hustle. Many entry-level roles have a lower base (e.g., $45,000) with higher commission potential. The median $74,394 often reflects a mix of base and commission. Insider Tip: Ask about the commission structure and the quality of the lead generation system in any interview.

Q: Do I need to know both residential and commercial lending?
A: Not necessarily, but it helps. Starting in residential (mortgages) is common. However, the most lucrative and secure long-term path in Green Bay often involves branching into commercial lending, especially with the local manufacturing and healthcare sectors.

Q: What’s the biggest challenge for a new Loan Officer here?
A: Building a referral network from scratch. The market runs on relationships. You need to spend your first 1-2 years attending every possible community event, joining the Brown County Realtors Association, and proving your reliability to a small group of key realtors.

Q: How does the Packers factor into the local economy?
A: It’s significant. Beyond the stadium (Lambeau Field) driving tourism and events, the Packers organization itself is a major employer and the community's emotional center. It also means a lot of local clients have seasonal income (hospitality, retail) or are die-hard locals who value relationship-based banking—a great fit for a community-focused Loan Officer.