Average Loan Interviewers and Clerks Salary in Michigan
Loan Interviewers and Clerks in Michigan earn an average annual salary of $48,970. This figure is slightly below the national average of $51,050. Local economic factors, including the specific demand within Michigan's financial sector and the overall cost of living, contribute to this regional salary benchmark.
Executive Summary
- Average Salary: $48,970 per year.
- Growth Trend: Salaries have shifted 14.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $60,130.
- Outlook: Michigan boasts a substantial workforce of 8,160 Loan Interviewers and Clerks, indicating a significant presence in the state's economy. With a Location Quotient of 1.66, this profession is considerably more concentrated in Michigan than the national average, suggesting robust demand and a stable job market for these roles within the state.
Salary Overview
The average Loan Interviewers and Clerks in Michigan earns-4.1%below the national average.
$23.5
$942
$4,081
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 Michigan have experienced steady growth over the past four years, mirroring national trends. This growth is likely driven by evolving financial regulations, increased demand for loan services, and general economic expansion within the state.
Loan Interviewers and Clerks Salary Distribution in Michigan
The career path for Loan Interviewers and Clerks typically shows a clear salary progression. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive experience and specialized skills can command salaries in the upper percentiles. These percentile gaps highlight significant opportunities for career advancement and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $38,240 | $18.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $36,728 | $17.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $48,380 | $23.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $61,213 | $29.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $60,130 | $28.9 |
Detailed Loan Interviewers and Clerks Market Analysis
Relocation Context
Nominal Salary
$48,970
Gross Pay
Real Wage (Purchasing Power)
$54,051
Adjusted for COL (90.6)
The average annual salary of $48,970 in Michigan presents a favorable financial situation when considered against the state's Cost of Living Index of 90.6. This index is below the national average of 100, meaning that the purchasing power of the salary is likely higher than the nominal figure suggests, offering a good standard of living relative to national benchmarks.
Job Market Context
8,160
Total Jobs
1.86
Per 1K Jobs
1.66
Location Quotient
Michigan has 1.7x 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.
A Location Quotient of 1.66 signifies that Loan Interviewers and Clerks are 66% more concentrated in Michigan than in the average U.S. state. This indicates a strong and potentially competitive job market where employers may actively seek out talent, and employees benefit from a higher density of relevant job opportunities compared to the national landscape.
Nearby Job Markets
Nearby Cities for Loan Interviewers and Clerks
| City | Salary | Dist. |
|---|---|---|
| Midland, MI Loan Interviewers and Clerks Salary | $46,200↓ 6% | 26 mi |
| Saginaw, MI Loan Interviewers and Clerks Salary | $45,700↓ 7% | 30 mi |
| Lansing-East Lansing, MI Loan Interviewers and Clerks Salary | $46,620↓ 5% | 42 mi |
| Flint, MI Loan Interviewers and Clerks Salary | $48,340↓ 1% | 47 mi |
Comparing salaries near Michigan
Hiring Loan Interviewers and Clerkss?
Frequently Asked Questions
How much does a Loan Interviewers and Clerks make in Michigan?
The median annual salary for a Loan Interviewers and Clerks in Michigan is $48,970. This typically ranges from $38,240 for entry-level positions to $60,130 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Michigan is 4.1% lower than the national median of $51,050.
Is Michigan a lucrative place for Loan Interviewers and Clerks?
Yes, with a caveat regarding the cost of living.Michigan offers a strong concentration of these jobs (LQ 1.66) and a lower cost of living (90.6), making the average salary of $48,970 quite competitive in real terms.
Is Michigan a good place to live for Loan Interviewers and Clerks?
With a Cost of Living Index of 90.6 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Michigan?
Some top paying nearby cities include Midland, MI ($46,200) and Saginaw, MI.
How does Michigan's average salary compare to the national average?
The average annual salary for Loan Interviewers and Clerks in Michigan is $48,970, which is slightly lower than the national average of $51,050.
What does the Location Quotient (LQ) of 1.66 mean for job seekers?
An LQ of 1.66 indicates that there are significantly more Loan Interviewer and Clerk jobs per worker in Michigan compared to the national average, suggesting a robust and potentially less competitive market for these roles.
How does the cost of living in Michigan affect the salary?
With a Cost of Living Index of 90.6 (below the national average of 100), the $48,970 salary in Michigan offers better purchasing power than it might in a higher cost-of-living state.
What is the total number of Loan Interviewers and Clerks in Michigan?
There are approximately 8,160 Loan Interviewers and Clerks employed in Michigan, representing a substantial segment of the state's workforce in this sector.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 8,160 employees in the Michigan area with a job density of 1.86 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 Michigan