Average Loan Interviewers and Clerks Salary in Cleveland, OH
In Cleveland, OH, Loan Interviewers and Clerks earn an average annual salary of $49,920. This figure is slightly below the national average of $51,050, indicating a localized compensation structure influenced by regional economic factors and the cost of labor within the state. The specific demands and supply dynamics within the Cleveland metropolitan area play a significant role in shaping this salary benchmark.
Executive Summary
- Average Salary: $49,920 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $65,950.
- Outlook: Cleveland's market for Loan Interviewers and Clerks shows a healthy concentration, with a Location Quotient of 1.09 suggesting a presence slightly above the national average. Supporting a workforce of 1,270 individuals, this indicates a stable demand for these roles within the local financial sector. The rate of 1.221 jobs per 1,000 workers further solidifies the consistent need for skilled professionals in this field within the region.
Salary Overview
The average Loan Interviewers and Clerks in Cleveland, OH earns-2.2%below the national average.
$24
$960
$4,160
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 Cleveland have experienced gradual growth over the past four years, mirroring national trends. Economic expansion, inflation, and evolving industry demands typically drive incremental increases in compensation for roles within the financial services sector, ensuring that pay remains competitive and reflective of the current economic climate.
Loan Interviewers and Clerks Salary Distribution in Cleveland, OH
Salary progression for Loan Interviewers and Clerks in Cleveland typically scales with experience. Entry-level positions may start at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command significantly higher salaries, potentially reaching the upper percentiles. The widening gap between entry-level and senior roles signifies clear career advancement opportunities and the increasing value placed on expertise within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,590 | $17.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $37,440 | $18 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $46,750 | $22.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $62,400 | $30 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $65,950 | $31.7 |
Detailed Loan Interviewers and Clerks Market Analysis
Relocation Context
Nominal Salary
$49,920
Gross Pay
Real Wage (Purchasing Power)
$49,920
Adjusted for COL (100)
The average annual salary of $49,920 in Cleveland aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary offers a purchasing power equivalent to the national average, suggesting that relocating professionals will find their income stretches as far as it would in most other parts of the country. This parity in cost of living simplifies financial planning for those considering a move to Cleveland for this career path.
Job Market Context
1,270
Total Jobs
1.221
Per 1K Jobs
1.09
Location Quotient
With a location quotient of 1.09, Cleveland, OH has a slightly higher-than-average concentration of Loan Interviewers and Clerks roles compared to the national norm.
With a Location Quotient of 1.09, Cleveland exhibits a slightly higher concentration of Loan Interviewers and Clerks compared to the national average. This suggests a robust and established market for these professionals, where demand is at least on par with, if not slightly exceeding, national levels. The presence of 1,270 individuals in this role indicates a substantial and active job market, offering ample opportunities for both job seekers and employers.
Nearby Job Markets
Nearby Cities for Loan Interviewers and Clerks
| City | Salary | Dist. |
|---|---|---|
| Akron, OH Loan Interviewers and Clerks Salary | $50,060↑ 0% | 29 mi |
| Canton-Massillon, OH Loan Interviewers and Clerks Salary | $46,720↓ 6% | 49 mi |
| Sandusky, OH Loan Interviewers and Clerks Salary | $46,190↓ 7% | 53 mi |
| Youngstown-Warren, OH Loan Interviewers and Clerks Salary | $44,390↓ 11% | 60 mi |
Comparing salaries near Cleveland, OH
Hiring Loan Interviewers and Clerkss?
Frequently Asked Questions
How much does a Loan Interviewers and Clerks make in Cleveland, OH?
The median annual salary for a Loan Interviewers and Clerks in Cleveland, OH is $49,920. This typically ranges from $36,590 for entry-level positions to $65,950 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Cleveland, OH is 2.2% lower than the national median of $51,050.
Is Cleveland, OH a lucrative place for Loan Interviewers and Clerks?
Yes, it offers average national purchasing power.While the average salary is slightly below the national average, Cleveland's cost of living is also at the national average, meaning your earnings will have comparable purchasing power. The stable job market concentration also indicates consistent opportunities.
Is Cleveland, OH a good place to live for Loan Interviewers and Clerks?
The Cost of Living Index in Cleveland, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Cleveland, OH?
Some top paying nearby cities include Akron, OH ($50,060) and Canton-Massillon, OH.
How does Cleveland's salary for Loan Interviewers and Clerks compare to the national average?
The average annual salary in Cleveland is $49,920, which is slightly lower than the national average of $51,050.
What is the concentration of Loan Interviewers and Clerks in Cleveland?
Cleveland has a Location Quotient of 1.09, indicating a slightly higher concentration of these roles compared to the national average.
How does the cost of living in Cleveland affect the salary?
Cleveland's Cost of Living Index is 100, matching the national average. This means the $49,920 salary provides purchasing power equivalent to the national average.
What is the size of the Loan Interviewer and Clerk workforce in Cleveland?
There are approximately 1,270 Loan Interviewers and Clerks working in Cleveland, OH.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,270 employees in the Cleveland, OH area with a job density of 1.221 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 Cleveland, OH