Average Loan Interviewers and Clerks Salary in Madison, WI
In Madison, WI, Loan Interviewers and Clerks earn an average annual salary of $51,630. This figure slightly surpasses the national average of $51,050, indicating a stable and competitive compensation landscape. Local economic factors and the specific demand within the financial services sector contribute to this pay rate.
Executive Summary
- Average Salary: $51,630 per year.
- Growth Trend: Salaries have shifted 19.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $61,840.
- Outlook: The Madison, WI market for Loan Interviewers and Clerks shows a healthy concentration, with a Location Quotient of 1.32, suggesting a presence that is 32% higher than the national average. Supporting a local workforce of 600 individuals, this indicates a robust demand and a stable job environment for these professionals within the region.
Salary Overview
The average Loan Interviewers and Clerks in Madison, WI earns+1.1%above the national average.
$24.8
$993
$4,303
Loan Interviewers and Clerks Salary Trends (2020-2024)
While specific historical data for Madison, WI is not provided, it's reasonable to assume that salaries for Loan Interviewers and Clerks have seen consistent growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increased demand for financial services, and the evolving skill requirements within the role.
Loan Interviewers and Clerks Salary Distribution in Madison, WI
Career progression for Loan Interviewers and Clerks in Madison, WI, typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower percentiles, while senior or specialized roles can command salaries well into the higher percentiles, reflecting accumulated expertise and responsibilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $41,750 | $20.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $38,723 | $18.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $49,800 | $23.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $64,538 | $31 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $61,840 | $29.7 |
Detailed Loan Interviewers and Clerks Market Analysis
Relocation Context
Nominal Salary
$51,630
Gross Pay
Real Wage (Purchasing Power)
$51,630
Adjusted for COL (100)
The average annual salary of $51,630 in Madison, WI, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Loan Interviewer's or Clerk's salary in Madison is equivalent to the national average, offering a stable financial footing for residents.
Job Market Context
600
Total Jobs
1.481
Per 1K Jobs
1.32
Location Quotient
With a location quotient of 1.32, Madison, WI has a slightly higher-than-average concentration of Loan Interviewers and Clerks roles compared to the national norm.
With a Location Quotient of 1.32, Madison, WI, demonstrates a higher concentration of Loan Interviewers and Clerks compared to the national average. This suggests a relatively strong demand for these roles within the local job market, potentially offering more opportunities and a competitive environment for both employers and job seekers.
Nearby Job Markets
Nearby Cities for Loan Interviewers and Clerks
| City | Salary | Dist. |
|---|---|---|
| Janesville-Beloit, WI Loan Interviewers and Clerks Salary | $47,210↓ 9% | 33 mi |
| Rockford, IL Loan Interviewers and Clerks Salary | $47,730↓ 8% | 59 mi |
| Fond du Lac, WI Loan Interviewers and Clerks Salary | $48,680↓ 6% | 68 mi |
| Milwaukee-Waukesha, WI Loan Interviewers and Clerks Salary | $50,370↓ 2% | 72 mi |
| Oshkosh-Neenah, WI Loan Interviewers and Clerks Salary | $47,900↓ 7% | 77 mi |
Comparing salaries near Madison, WI
Hiring Loan Interviewers and Clerkss?
Frequently Asked Questions
How much does a Loan Interviewers and Clerks make in Madison, WI?
The median annual salary for a Loan Interviewers and Clerks in Madison, WI is $51,630. This typically ranges from $41,750 for entry-level positions to $61,840 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Madison, WI is 1.1% higher than the national median of $51,050.
Is Madison, WI a lucrative place for Loan Interviewers and Clerks?
Yes, Madison, WI offers a competitive compensation landscape for Loan Interviewers and Clerks.The average salary of $51,630 slightly exceeds the national average, and the cost of living is on par with the national index, indicating good earning potential relative to expenses.
Is Madison, WI a good place to live for Loan Interviewers and Clerks?
The Cost of Living Index in Madison, WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Madison, WI?
Some top paying nearby cities include Janesville-Beloit, WI ($47,210) and Rockford, IL.
How does the local workforce size impact job opportunities?
A local workforce of 600 Loan Interviewers and Clerks suggests a significant but not overly saturated market, indicating a steady demand for qualified professionals.
What does a Location Quotient of 1.32 signify?
A Location Quotient of 1.32 means that Loan Interviewers and Clerks are more concentrated in Madison, WI, than the national average, implying a stronger local industry presence and potentially more job openings.
How does the Cost of Living Index affect salary perception?
With a Cost of Living Index of 100, the national average, the $51,630 salary in Madison, WI, has purchasing power equivalent to the national average, making it a stable financial environment.
Are there significant salary differences based on experience?
Yes, like most professions, experience plays a crucial role, with entry-level positions earning less than senior roles, reflecting a clear career progression path and salary growth potential.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 600 employees in the Madison, WI area with a job density of 1.481 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 Madison, WI