Average Loan Officers Salary in Binghamton, NY
Yes, Binghamton, NY is a highly lucrative market for Loan Officerss. With an average annual salary of $102,680, professionals here earn significantly more than the national norm.
Executive Summary
- Average Salary: $102,680 per year.
- Growth Trend: Salaries have shifted 34.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $170,980.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 100 professionals. This role remains a specialized component of the broader Binghamton, NY economy.
Salary Overview
The average Loan Officers in Binghamton, NY earns+19.1%above the national average.
$49.4
$1,975
$8,557
Loan Officers Salary Trends (2020-2024)
Over the past 4 years, Loan Officers salaries in Binghamton, NY have experienced a rapid surge, growing by 34.5%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Binghamton, NY
The earning potential for Loan Officerss in Binghamton, NY varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 3.5x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $49,000, while highly experienced professionals can command wages upwards of $170,980.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,000 | $23.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $77,010 | $37 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $72,030 | $34.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $128,350 | $61.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $170,980 | $82.2 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$102,680
Gross Pay
Real Wage (Purchasing Power)
$102,680
Adjusted for COL (100)
In Binghamton, NY, the Cost of Living Index is 100. This increases your effective purchasing power from $102,680 to $102,680.
Job Market Context
100
Total Jobs
1.069
Per 1K Jobs
0.57
Location Quotient
Binghamton, NY has 0.57x 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.
100 people work as Loan Officers in Binghamton, NY.
1.069 out of every 1,000 local jobs are Loan Officers positions — a typical concentration.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Ithaca, NY Loan Officers Salary | $80,670↓ 21% | 39 mi |
| Elmira, NY Loan Officers Salary | $123,770↑ 21% | 46 mi |
| Southwest New York nonmetropolitan area Loan Officers Salary | $81,270↓ 21% | 49 mi |
| Central East New York nonmetropolitan area Loan Officers Salary | $90,670↓ 12% | 49 mi |
| Capital/Northern New York nonmetropolitan area Loan Officers Salary | $82,470↓ 20% | 49 mi |
Comparing salaries near Binghamton, NY
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Binghamton, NY?
The median annual salary for a Loan Officers in Binghamton, NY is $102,680. This typically ranges from $49,000 for entry-level positions to $170,980 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Binghamton, NY is 19.1% higher than the national median of $86,220.
Is Binghamton, NY a good place for Loan Officerss?
Yes, Binghamton, NY is financially attractive for Loan Officerss. The average salary of $102,680 exceeds the national average. See distinct detailed breakdown below.
Is Binghamton, NY a good place to live for Loan Officers?
The Cost of Living Index in Binghamton, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Binghamton, NY?
Some top paying nearby cities include Ithaca, NY ($80,670) and Elmira, NY.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 100 employees in the Binghamton, NY area with a job density of 1.069 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 Binghamton, NY