Average Loan Officers Salary in Augusta-Richmond County, GA-SC
Loan Officers in Augusta-Richmond County, GA-SC earn an average annual salary of $69,890. This figure is notably below the national average of $86,220, indicating a localized compensation structure. Factors such as regional economic conditions and the specific demand within the Augusta-Richmond County area likely contribute to this disparity.
Executive Summary
- Average Salary: $69,890 per year.
- Growth Trend: Salaries have shifted 7.5% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $114,930.
- Outlook: The Augusta-Richmond County, GA-SC area supports a local workforce of 300 Loan Officers. With a Location Quotient of 0.69, the concentration of these roles is below the national average, suggesting a moderately less saturated market compared to other regions. The presence of 1.297 jobs per 1,000 workers indicates a steady, albeit not exceptionally high, demand for loan officers within this specific metropolitan statistical area.
Salary Overview
The average Loan Officers in Augusta-Richmond County, GA-SC earns-18.9%below the national average.
$33.6
$1,344
$5,824
Loan Officers Salary Trends (2020-2024)
While specific historical data for Augusta-Richmond County is not provided, it is generally assumed that salaries for Loan Officers nationwide have experienced a gradual upward trend over the past four years, driven by inflation, evolving market demands, and increased complexity in financial services. This national trend likely influences local compensation, even if the pace of growth varies regionally.
Loan Officers Salary Distribution in Augusta-Richmond County, GA-SC
The salary trajectory for Loan Officers typically escalates with experience. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with a proven track record and specialized skills can command significantly higher salaries. The percentile gaps in compensation clearly signify career progression, rewarding increased expertise, client management capabilities, and a deeper understanding of financial products.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $40,300 | $19.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $52,418 | $25.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $55,630 | $26.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $87,363 | $42 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $114,930 | $55.3 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$69,890
Gross Pay
Real Wage (Purchasing Power)
$69,890
Adjusted for COL (100)
The average annual salary of $69,890 in Augusta-Richmond County, GA-SC aligns perfectly with the national average Cost of Living Index of 100. This means that while the nominal salary is lower than the national average, the purchasing power of that salary locally is equivalent to the national average, suggesting a balanced economic environment for residents.
Job Market Context
300
Total Jobs
1.297
Per 1K Jobs
0.69
Location Quotient
Augusta-Richmond County, GA-SC has 0.69x the national average concentration of Loan Officers jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.69 for Loan Officers in Augusta-Richmond County, GA-SC indicates that this profession is less concentrated here than the national average. This suggests that while there is a presence of loan officers, the market is not oversaturated, potentially offering opportunities for skilled professionals, but also implying that the demand might not be as robust as in areas with a higher LQ.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Northwestern South Carolina nonmetropolitan area Loan Officers Salary | $69,830↓ 0% | 73 mi |
| Northeastern South Carolina nonmetropolitan area Loan Officers Salary | $63,810↓ 9% | 73 mi |
| Southern South Carolina nonmetropolitan area Loan Officers Salary | $63,140↓ 10% | 73 mi |
| Columbia, SC Loan Officers Salary | $76,480↑ 9% | 82 mi |
| Athens-Clarke County, GA Loan Officers Salary | $84,080↑ 20% | 85 mi |
Comparing salaries near Augusta-Richmond County, GA-SC
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Augusta-Richmond County, GA-SC?
The median annual salary for a Loan Officers in Augusta-Richmond County, GA-SC is $69,890. This typically ranges from $40,300 for entry-level positions to $114,930 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Augusta-Richmond County, GA-SC is 18.9% lower than the national median of $86,220.
Is Augusta-Richmond County, GA-SC a lucrative place for Loan Officers?
No, not compared to the national average.The average salary of $69,890 is significantly lower than the national average of $86,220. However, the cost of living is on par with the national average, making the purchasing power of the local salary equivalent.
Is Augusta-Richmond County, GA-SC a good place to live for Loan Officers?
The Cost of Living Index in Augusta-Richmond County, GA-SC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Augusta-Richmond County, GA-SC?
Some top paying nearby cities include Northwestern South Carolina nonmetropolitan area ($69,830) and Northeastern South Carolina nonmetropolitan area.
How does the Augusta-Richmond County Loan Officer salary compare to the national average?
Loan Officers in Augusta-Richmond County, GA-SC earn an average of $69,890 annually, which is approximately 19% less than the national average salary of $86,220.
What is the cost of living like for Loan Officers in Augusta-Richmond County, GA-SC?
The cost of living in Augusta-Richmond County, GA-SC is exactly at the national average, indicated by an index of 100. This means that the lower nominal salary is offset by comparable living expenses.
How concentrated is the Loan Officer job market in Augusta-Richmond County, GA-SC?
The job market for Loan Officers in Augusta-Richmond County, GA-SC is less concentrated than the national average, with a Location Quotient of 0.69. This suggests a moderate level of demand relative to the national landscape.
What is the total number of Loan Officers in Augusta-Richmond County, GA-SC?
There are approximately 300 Loan Officers employed within the Augusta-Richmond County, GA-SC area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 300 employees in the Augusta-Richmond County, GA-SC area with a job density of 1.297 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 Officers • Data source: BLS OEWS 2024 •Jobs in Augusta-Richmond County, GA-SC