Average Loan Interviewers and Clerks Salary in Ann Arbor, MI
In Ann Arbor, MI, Loan Interviewers and Clerks earn an average annual salary of $46,990. This figure is slightly below the national average of $51,050, indicating that local market dynamics and potentially regional demand influence compensation. While the national trend sets a benchmark, specific economic conditions in Ann Arbor shape the earning potential for these crucial financial roles.
Executive Summary
- Average Salary: $46,990 per year.
- Growth Trend: Salaries have shifted 10.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $59,520.
- Outlook: The Ann Arbor market for Loan Interviewers and Clerks shows a moderate level of concentration, with a Location Quotient of 1.05, suggesting a presence slightly above the national average. The total local workforce of 260 individuals, coupled with 1.184 jobs per 1,000 workers, points to a stable, albeit not rapidly expanding, demand for these professionals. This indicates a consistent need for skilled individuals in the financial sector within the region.
Salary Overview
The average Loan Interviewers and Clerks in Ann Arbor, MI earns-8.0%below the national average.
$22.6
$904
$3,916
Loan Interviewers and Clerks Salary Trends (2020-2024)
While specific historical data for Ann Arbor's Loan Interviewer and Clerk salaries over the past four years is not provided, it is reasonable to assume a general upward trend mirroring national patterns. Economic growth, inflation, and evolving industry demands typically drive salary increases over time. Therefore, professionals in this field in Ann Arbor likely have experienced incremental salary growth, reflecting broader economic adjustments and increased value placed on their expertise.
Loan Interviewers and Clerks Salary Distribution in Ann Arbor, MI
The career trajectory for Loan Interviewers and Clerks in Ann Arbor, MI, typically involves significant salary progression based on experience. Entry-level positions may start at the lower end of the pay scale, while seasoned professionals with extensive knowledge of lending practices and customer service can command higher salaries. The variance between entry-level and senior roles, often reflected in salary percentiles, signifies substantial opportunities for career advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,990 | $18.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $35,243 | $16.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $48,420 | $23.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $58,738 | $28.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $59,520 | $28.6 |
Detailed Loan Interviewers and Clerks Market Analysis
Relocation Context
Nominal Salary
$46,990
Gross Pay
Real Wage (Purchasing Power)
$46,990
Adjusted for COL (100)
The nominal average salary of $46,990 in Ann Arbor, MI, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Loan Interviewer or Clerk's salary in Ann Arbor is equivalent to the national average. Consequently, relocating to Ann Arbor for this role does not present a significant financial advantage or disadvantage in terms of cost of living relative to income.
Job Market Context
260
Total Jobs
1.184
Per 1K Jobs
1.05
Location Quotient
With a location quotient of 1.05, Ann Arbor, MI has a slightly higher-than-average concentration of Loan Interviewers and Clerks roles compared to the national norm.
With a Location Quotient of 1.05, Ann Arbor, MI, exhibits a job market for Loan Interviewers and Clerks that is slightly more concentrated than the national average. This suggests a healthy, stable demand for these roles within the local financial industry, without being overly saturated. The market is competitive enough to ensure consistent opportunities but not so scarce as to make finding employment exceptionally difficult for qualified candidates.
Nearby Job Markets
Nearby Cities for Loan Interviewers and Clerks
| City | Salary | Dist. |
|---|---|---|
| Jackson, MI Loan Interviewers and Clerks Salary | $45,090↓ 4% | 34 mi |
| Detroit-Warren-Dearborn, MI Loan Interviewers and Clerks Salary | $50,030↑ 6% | 35 mi |
| Toledo, OH Loan Interviewers and Clerks Salary | $47,130↑ 0% | 43 mi |
| Flint, MI Loan Interviewers and Clerks Salary | $48,340↑ 3% | 52 mi |
Comparing salaries near Ann Arbor, MI
Hiring Loan Interviewers and Clerkss?
Frequently Asked Questions
How much does a Loan Interviewers and Clerks make in Ann Arbor, MI?
The median annual salary for a Loan Interviewers and Clerks in Ann Arbor, MI is $46,990. This typically ranges from $37,990 for entry-level positions to $59,520 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Ann Arbor, MI is 8.0% lower than the national median of $51,050.
Is Ann Arbor, MI a lucrative place for Loan Interviewers and Clerks?
No, not significantly more lucrative than the national average.The average salary of $46,990 is below the national average, and the cost of living is exactly at the national average, offering no distinct financial advantage.
Is Ann Arbor, MI a good place to live for Loan Interviewers and Clerks?
The Cost of Living Index in Ann Arbor, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Ann Arbor, MI?
Some top paying nearby cities include Jackson, MI ($45,090) and Detroit-Warren-Dearborn, MI.
How does Ann Arbor's salary for Loan Interviewers compare to the national average?
The average annual salary for Loan Interviewers and Clerks in Ann Arbor, MI, is $46,990, which is slightly lower than the national average of $51,050.
What is the concentration of Loan Interviewers and Clerks in Ann Arbor compared to the rest of the US?
Ann Arbor has a Location Quotient of 1.05 for Loan Interviewers and Clerks, indicating a slightly higher concentration of these jobs compared to the national average.
Does the cost of living in Ann Arbor affect the salary of Loan Interviewers and Clerks?
The cost of living in Ann Arbor is exactly at the national average (100), meaning the $46,990 salary has the same purchasing power as the national average salary.
How many Loan Interviewers and Clerks are there in Ann Arbor?
There are approximately 260 Loan Interviewers and Clerks employed in Ann Arbor, MI, representing 1.184 jobs per 1,000 workers in the local economy.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Ann Arbor, MI area with a job density of 1.184 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Loan Interviewers and Clerks • Data source: BLS OEWS 2024 •Jobs in Ann Arbor, MI