Average Loan Interviewers and Clerks Salary in Grand Rapids-Wyoming-Kentwood, MI
In the Grand Rapids-Wyoming-Kentwood, MI metropolitan area, Loan Interviewers and Clerks earn an average annual salary of $49,890. This figure is slightly below the national average of $51,050, indicating a minor regional adjustment in compensation. Local economic factors and the specific demand within the financial services sector of West Michigan likely contribute to this pay scale.
Executive Summary
- Average Salary: $49,890 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $63,500.
- Outlook: The local job market for Loan Interviewers and Clerks in Grand Rapids-Wyoming-Kentwood, MI, appears stable, with a total workforce of 700 individuals in this role. The Location Quotient of 1.11 suggests a slightly higher concentration of these positions compared to the national average, implying a steady, if not growing, demand for these professionals within the region.
Salary Overview
The average Loan Interviewers and Clerks in Grand Rapids-Wyoming-Kentwood, MI earns-2.3%below the national average.
$24
$959
$4,158
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 Grand Rapids-Wyoming-Kentwood, MI, have experienced gradual growth over the past four years, mirroring national trends. This upward trajectory is typically driven by inflation, increased demand for financial services, and the evolving responsibilities of these roles.
Loan Interviewers and Clerks Salary Distribution in Grand Rapids-Wyoming-Kentwood, MI
Career progression for Loan Interviewers and Clerks typically involves moving from entry-level positions to more senior roles, with corresponding salary increases. While specific percentile data is unavailable, the typical salary distribution shows that experienced professionals can command significantly higher earnings than those just starting out, with substantial percentile gaps reflecting accumulated expertise and responsibility.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,980 | $18.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $37,418 | $18 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $47,560 | $22.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $62,363 | $30 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $63,500 | $30.5 |
Detailed Loan Interviewers and Clerks Market Analysis
Relocation Context
Nominal Salary
$49,890
Gross Pay
Real Wage (Purchasing Power)
$49,890
Adjusted for COL (100)
The average annual salary of $49,890 in Grand Rapids-Wyoming-Kentwood, MI, aligns perfectly with the national average cost of living, which is indexed at 100. This means that the purchasing power of a Loan Interviewer's or Clerk's salary in this area is equivalent to the national average, offering a stable financial environment for residents.
Job Market Context
700
Total Jobs
1.241
Per 1K Jobs
1.11
Location Quotient
With a location quotient of 1.11, Grand Rapids-Wyoming-Kentwood, MI has a slightly higher-than-average concentration of Loan Interviewers and Clerks roles compared to the national norm.
With a Location Quotient of 1.11, Grand Rapids-Wyoming-Kentwood, MI, exhibits a slightly higher concentration of Loan Interviewers and Clerks than the national average. This suggests a moderately competitive market where demand is present and perhaps slightly more robust than in other regions, offering good opportunities for those seeking employment in this field.
Nearby Job Markets
Nearby Cities for Loan Interviewers and Clerks
| City | Salary | Dist. |
|---|---|---|
| Muskegon-Norton Shores, MI Loan Interviewers and Clerks Salary | $42,640↓ 15% | 35 mi |
| Kalamazoo-Portage, MI Loan Interviewers and Clerks Salary | $48,250↓ 3% | 48 mi |
| Battle Creek, MI Loan Interviewers and Clerks Salary | $50,530↑ 1% | 51 mi |
| Lansing-East Lansing, MI Loan Interviewers and Clerks Salary | $46,620↓ 7% | 58 mi |
| Mid Michigan nonmetropolitan area Loan Interviewers and Clerks Salary | $44,590↓ 11% | 62 mi |
Comparing salaries near Grand Rapids-Wyoming-Kentwood, MI
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Frequently Asked Questions
How much does a Loan Interviewers and Clerks make in Grand Rapids-Wyoming-Kentwood, MI?
The median annual salary for a Loan Interviewers and Clerks in Grand Rapids-Wyoming-Kentwood, MI is $49,890. This typically ranges from $37,980 for entry-level positions to $63,500 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Grand Rapids-Wyoming-Kentwood, MI is 2.3% lower than the national median of $51,050.
Is Grand Rapids-Wyoming-Kentwood, MI a lucrative place for Loan Interviewers and Clerks?
Yes, it offers competitive compensation relative to the cost of living.While the average salary is slightly below the national average, the cost of living is also at the national average, making the compensation quite competitive. The slightly higher concentration of these roles also indicates a healthy local market.
Is Grand Rapids-Wyoming-Kentwood, MI a good place to live for Loan Interviewers and Clerks?
The Cost of Living Index in Grand Rapids-Wyoming-Kentwood, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Grand Rapids-Wyoming-Kentwood, MI?
Some top paying nearby cities include Muskegon-Norton Shores, MI ($42,640) and Kalamazoo-Portage, MI.
How does the Grand Rapids salary compare to the national average?
The average salary for Loan Interviewers and Clerks in Grand Rapids-Wyoming-Kentwood, MI, is $49,890, which is slightly lower than the national average of $51,050.
What is the cost of living in Grand Rapids-Wyoming-Kentwood, MI?
The cost of living in Grand Rapids-Wyoming-Kentwood, MI, is at the national average, with an index of 100.
How concentrated are Loan Interviewer and Clerk jobs in this area?
The concentration of these jobs, measured by the Location Quotient, is 1.11, indicating a slightly higher presence than the national average.
What is the total number of Loan Interviewers and Clerks in the Grand Rapids area?
There are approximately 700 Loan Interviewers and Clerks employed in the Grand Rapids-Wyoming-Kentwood, MI, 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 700 employees in the Grand Rapids-Wyoming-Kentwood, MI area with a job density of 1.241 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 Grand Rapids-Wyoming-Kentwood, MI