Average Loan Interviewers and Clerks Salary in Boston-Cambridge-Newton, MA-NH
In the bustling financial landscape of Boston-Cambridge-Newton, MA-NH, Loan Interviewers and Clerks earn an average annual salary of $55,510. This figure surpasses the national average of $51,050, indicating a localized premium for these essential roles. The higher compensation is often attributed to the region's robust economic activity and demand for skilled financial professionals.
Executive Summary
- Average Salary: $55,510 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $64,410.
- Outlook: The local job market for Loan Interviewers and Clerks in Boston-Cambridge-Newton, MA-NH, comprises a workforce of 2,030 individuals. With a Location Quotient of 0.67, the concentration of these roles is slightly below the national average, suggesting a stable but not overly saturated market. The presence of 0.75 jobs per 1,000 workers indicates consistent demand within the region's financial sector.
Salary Overview
The average Loan Interviewers and Clerks in Boston-Cambridge-Newton, MA-NH earns+8.7%above the national average.
$26.7
$1,068
$4,626
Loan Interviewers and Clerks Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Loan Interviewers and Clerks in Boston-Cambridge-Newton, MA-NH, have experienced steady growth over the past four years, mirroring national trends. Economic expansion and evolving financial service needs typically drive upward salary adjustments in established metropolitan areas.
Loan Interviewers and Clerks Salary Distribution in Boston-Cambridge-Newton, MA-NH
Career progression for Loan Interviewers and Clerks typically involves a salary scale that increases with experience. Entry-level positions may start closer to the lower end of the pay spectrum, while senior or specialized roles command higher salaries. The percentile gaps in earnings signify clear opportunities for career advancement and increased earning potential within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $46,670 | $22.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $41,633 | $20 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $56,520 | $27.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $69,388 | $33.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $64,410 | $31 |
Detailed Loan Interviewers and Clerks Market Analysis
Relocation Context
Nominal Salary
$55,510
Gross Pay
Real Wage (Purchasing Power)
$55,510
Adjusted for COL (100)
The average annual salary of $55,510 in Boston-Cambridge-Newton, MA-NH, 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's salary in this region is comparable to the national standard, offering a balanced financial environment for residents.
Job Market Context
2,030
Total Jobs
0.75
Per 1K Jobs
0.67
Location Quotient
Boston-Cambridge-Newton, MA-NH has 0.67x the national average concentration of Loan Interviewers and Clerks jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.67 for Loan Interviewers and Clerks in Boston-Cambridge-Newton, MA-NH, suggests that the employment concentration in this area is somewhat lower than the national average. This indicates that while the roles are present and valued, the market is not exceptionally saturated, potentially offering a competitive environment for skilled professionals seeking opportunities.
Nearby Job Markets
Nearby Cities for Loan Interviewers and Clerks
| City | Salary | Dist. |
|---|---|---|
| Worcester, MA Loan Interviewers and Clerks Salary | $53,840↓ 3% | 37 mi |
| Providence-Warwick, RI-MA Loan Interviewers and Clerks Salary | $50,920↓ 8% | 38 mi |
| Manchester-Nashua, NH Loan Interviewers and Clerks Salary | $58,530↑ 5% | 50 mi |
Comparing salaries near Boston-Cambridge-Newton, MA-NH
Hiring Loan Interviewers and Clerkss?
Frequently Asked Questions
How much does a Loan Interviewers and Clerks make in Boston-Cambridge-Newton, MA-NH?
The median annual salary for a Loan Interviewers and Clerks in Boston-Cambridge-Newton, MA-NH is $55,510. This typically ranges from $46,670 for entry-level positions to $64,410 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Boston-Cambridge-Newton, MA-NH is 8.7% higher than the national median of $51,050.
Is Boston-Cambridge-Newton, MA-NH a lucrative place for Loan Interviewers and Clerks?
Yes, it is a moderately lucrative place for Loan Interviewers and Clerks.The average salary of $55,510 is higher than the national average, and the cost of living is on par with the national average, providing good purchasing power.
Is Boston-Cambridge-Newton, MA-NH a good place to live for Loan Interviewers and Clerks?
The Cost of Living Index in Boston-Cambridge-Newton, MA-NH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Boston-Cambridge-Newton, MA-NH?
Some top paying nearby cities include Worcester, MA ($53,840) and Providence-Warwick, RI-MA.
How does the Boston-Cambridge-Newton salary compare to the national average?
The average annual salary for Loan Interviewers and Clerks in Boston-Cambridge-Newton, MA-NH, is $55,510, which is approximately 8.7% higher than the national average of $51,050.
What is the significance of the Location Quotient (LQ) of 0.67?
An LQ of 0.67 means that the concentration of Loan Interviewers and Clerks in the Boston-Cambridge-Newton area is 33% lower than the national average. This suggests a less saturated job market relative to other regions.
How does the Cost of Living Index affect the salary?
With a Cost of Living Index of 100 (the national average), the $55,510 salary in Boston-Cambridge-Newton offers purchasing power equivalent to the national average, making it a stable financial environment.
What is the total number of Loan Interviewers and Clerks in the Boston area?
There are approximately 2,030 Loan Interviewers and Clerks employed within the Boston-Cambridge-Newton, MA-NH metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,030 employees in the Boston-Cambridge-Newton, MA-NH area with a job density of 0.75 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 Boston-Cambridge-Newton, MA-NH