Salary comparison
Loan Officers: Boston vs Minneapolis
Boston, MA pays about 1.2% more for loan officers on paper — $103,400 vs $102,200. But once you factor in what it costs to live there, Boston comes out ahead by $1,200 a year in real buying power.
Boston, MA
$103,400
$80,360
$144,280
$49.71
100
$103,400/yr
Median adjusted for local cost of living.
Minneapolis, MN
$102,200
$77,410
$128,180
$49.13
100
$102,200/yr
Median adjusted for local cost of living.
What the numbers mean in practice
The headline gap is $1,200 a year (1.2%) in favor of Boston. That is the raw salary difference before any living costs.
Boston runs a cost index of 100 against the national baseline of 100; Minneapolis sits at 100. After adjusting the median for those costs, Boston is the better deal by $1,200 a year — that is what each paycheck actually buys locally.
If you are weighing a move from Minneapolis to Boston for this role, the raise needs to beat 1.2% to come out ahead after living costs. Anything below that and you are earning more on paper but keeping less.
Common questions
Where do loan officers earn more, Boston or Minneapolis?
Boston pays $103,400 on median — about 1.2% more than Minneapolis ($102,200). Based on BLS Occupational Employment and Wage Statistics.
Which city is the better deal after living costs?
Boston. Once you divide each median by the local cost index, Boston gives you roughly$103,400 of real buying power versus $102,200 in the other city.