Average Loan Interviewers and Clerks Salary in Detroit-Warren-Dearborn, MI
In the Detroit-Warren-Dearborn, MI metropolitan area, Loan Interviewers and Clerks earn an average annual salary of $50,030. This figure is slightly below the national average of $51,050, indicating a localized compensation structure influenced by regional economic factors and the specific demand within the Michigan job market. The proximity to the national average suggests a stable, albeit not premium, earning potential for these roles in the area.
Executive Summary
- Average Salary: $50,030 per year.
- Growth Trend: Salaries have shifted 11.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $60,170.
- Outlook: The Detroit-Warren-Dearborn area supports a substantial workforce of 4,650 Loan Interviewers and Clerks. With a jobs-per-1,000-workers ratio of 2.436, the demand for these professionals is evident, especially considering the Location Quotient of 2.17, which signifies a concentration of these roles more than double the national average. This robust presence suggests a healthy and active job market for individuals in this profession within the region.
Salary Overview
The average Loan Interviewers and Clerks in Detroit-Warren-Dearborn, MI earns-2.0%below the national average.
$24.1
$962
$4,169
Loan Interviewers and Clerks Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Loan Interviewers and Clerks in the Detroit-Warren-Dearborn area have experienced steady growth over the past four years, mirroring national trends. Economic recovery, evolving financial regulations, and increased demand for lending services likely contribute to a positive salary trajectory, ensuring that compensation keeps pace with inflation and market dynamics.
Loan Interviewers and Clerks Salary Distribution in Detroit-Warren-Dearborn, MI
Career progression for Loan Interviewers and Clerks typically involves a significant salary increase from entry-level to senior positions. While exact figures vary, experienced professionals can expect to earn considerably more than their junior counterparts, with higher percentiles reflecting advanced skills, greater responsibilities, and a proven track record. These percentile gaps are crucial indicators of the potential for substantial career and financial growth within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $38,840 | $18.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $37,523 | $18 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $49,360 | $23.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $62,538 | $30.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $60,170 | $28.9 |
Detailed Loan Interviewers and Clerks Market Analysis
Relocation Context
Nominal Salary
$50,030
Gross Pay
Real Wage (Purchasing Power)
$50,030
Adjusted for COL (100)
The nominal average salary of $50,030 in Detroit-Warren-Dearborn, 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 this region is equivalent to the national standard, making it neither exceptionally advantageous nor disadvantageous from a cost-of-living perspective.
Job Market Context
4,650
Total Jobs
2.436
Per 1K Jobs
2.17
Location Quotient
Detroit-Warren-Dearborn, MI has 2.2x the national concentration of Loan Interviewers and Clerks jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
The Location Quotient of 2.17 for Loan Interviewers and Clerks in Detroit-Warren-Dearborn, MI, indicates a significantly higher concentration of these jobs compared to the national average. This suggests that the Detroit area is a key hub for this profession, potentially offering more abundant opportunities and a more competitive job market than many other regions across the country.
Nearby Job Markets
Nearby Cities for Loan Interviewers and Clerks
| City | Salary | Dist. |
|---|---|---|
| Ann Arbor, MI Loan Interviewers and Clerks Salary | $46,990↓ 6% | 35 mi |
| Toledo, OH Loan Interviewers and Clerks Salary | $47,130↓ 6% | 54 mi |
| Flint, MI Loan Interviewers and Clerks Salary | $48,340↓ 3% | 58 mi |
| Sandusky, OH Loan Interviewers and Clerks Salary | $46,190↓ 8% | 64 mi |
Comparing salaries near Detroit-Warren-Dearborn, MI
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Frequently Asked Questions
How much does a Loan Interviewers and Clerks make in Detroit-Warren-Dearborn, MI?
The median annual salary for a Loan Interviewers and Clerks in Detroit-Warren-Dearborn, MI is $50,030. This typically ranges from $38,840 for entry-level positions to $60,170 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Detroit-Warren-Dearborn, MI is 2.0% lower than the national median of $51,050.
Is Detroit-Warren-Dearborn, MI a lucrative place for Loan Interviewers and Clerks?
Yes, it offers competitive compensation relative to the cost of living.The average salary of $50,030 is on par with the national average, and the cost of living is also at the national average, indicating stable purchasing power for these roles.
Is Detroit-Warren-Dearborn, MI a good place to live for Loan Interviewers and Clerks?
The Cost of Living Index in Detroit-Warren-Dearborn, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Detroit-Warren-Dearborn, MI?
Some top paying nearby cities include Ann Arbor, MI ($46,990) and Toledo, OH.
How does the Detroit-Warren-Dearborn salary compare to the national average?
The average salary of $50,030 in Detroit-Warren-Dearborn is slightly lower than the national average of $51,050, by approximately 2%.
What is the significance of the Location Quotient (LQ) in Detroit for this role?
An LQ of 2.17 means that Loan Interviewers and Clerks are more than twice as concentrated in the Detroit-Warren-Dearborn area compared to the national average, suggesting a strong regional presence and demand for these professionals.
Does the cost of living impact the value of the salary?
No, the cost of living in Detroit-Warren-Dearborn is exactly at the national average (100), meaning the $50,030 salary offers purchasing power equivalent to the national median.
How many Loan Interviewers and Clerks are employed in the Detroit area?
There are approximately 4,650 Loan Interviewers and Clerks employed in the Detroit-Warren-Dearborn 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 4,650 employees in the Detroit-Warren-Dearborn, MI area with a job density of 2.436 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 Detroit-Warren-Dearborn, MI