Average Loan Officers Salary in Clarksville, TN-KY
Loan Officers in Clarksville, TN-KY earn an average annual salary of $76,070, which is below the national average of $86,220. This localized compensation reflects the specific economic conditions and demand within the Clarksville metropolitan area, influencing the pay scale for financial professionals in the region.
Executive Summary
- Average Salary: $76,070 per year.
- Growth Trend: Salaries have shifted 37.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $122,080.
- Outlook: With a total local workforce of 240 Loan Officers, Clarksville presents a moderately sized market for this profession. The Location Quotient of 1.26 indicates a slightly higher concentration of Loan Officers compared to the national average, suggesting a stable, albeit not booming, demand for these services within the local economy.
Salary Overview
The average Loan Officers in Clarksville, TN-KY earns-11.8%below the national average.
$36.6
$1,463
$6,339
Loan Officers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Loan Officers across the United States, including Clarksville, have experienced steady growth over the past four years. This trend is typically driven by inflation, evolving market demands, and the increasing complexity of financial products and regulations.
Loan Officers Salary Distribution in Clarksville, TN-KY
The salary progression for Loan Officers in Clarksville, TN-KY, typically scales with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with a proven track record can command salaries in the upper percentiles. The gap between these percentiles signifies substantial career growth and earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $38,190 | $18.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $57,053 | $27.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $64,750 | $31.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $95,088 | $45.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $122,080 | $58.7 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$76,070
Gross Pay
Real Wage (Purchasing Power)
$76,070
Adjusted for COL (100)
The nominal average salary of $76,070 in Clarksville, TN-KY, is perfectly aligned with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Loan Officer's salary in Clarksville is equivalent to the national average, offering a stable financial standing relative to living expenses.
Job Market Context
240
Total Jobs
2.373
Per 1K Jobs
1.26
Location Quotient
With a location quotient of 1.26, Clarksville, TN-KY has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
A Location Quotient of 1.26 for Loan Officers in Clarksville, TN-KY, signifies that the profession is 26% more concentrated in this area than the national average. This suggests a healthy, slightly above-average presence of Loan Officers, indicating a competitive yet accessible job market for those looking to enter or advance in this career.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Nashville-Davidson--Murfreesboro--Franklin, TN Loan Officers Salary | $77,980↑ 3% | 42 mi |
| Bowling Green, KY Loan Officers Salary | $88,750↑ 17% | 57 mi |
| East Tennessee nonmetropolitan area Loan Officers Salary | $73,580↓ 3% | 67 mi |
| South Central Tennessee nonmetropolitan area Loan Officers Salary | $70,660↓ 7% | 67 mi |
| West Tennessee nonmetropolitan area Loan Officers Salary | $69,560↓ 9% | 67 mi |
Comparing salaries near Clarksville, TN-KY
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Clarksville, TN-KY?
The median annual salary for a Loan Officers in Clarksville, TN-KY is $76,070. This typically ranges from $38,190 for entry-level positions to $122,080 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Clarksville, TN-KY is 11.8% lower than the national median of $86,220.
Is Clarksville, TN-KY a lucrative place for Loan Officers?
No, not significantly more lucrative than the national average.While the average salary of $76,070 is substantial, it falls below the national average. However, the cost of living is also at the national average, making the purchasing power comparable.
Is Clarksville, TN-KY a good place to live for Loan Officers?
The Cost of Living Index in Clarksville, TN-KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Clarksville, TN-KY?
Some top paying nearby cities include Nashville-Davidson--Murfreesboro--Franklin, TN ($77,980) and Bowling Green, KY.
How does Clarksville's Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Clarksville, TN-KY is $76,070, which is approximately $10,150 less than the national average of $86,220.
What is the concentration of Loan Officers in Clarksville, TN-KY?
Clarksville has a Location Quotient of 1.26 for Loan Officers, indicating a concentration that is 26% higher than the national average.
How does the cost of living in Clarksville affect a Loan Officer's salary?
With a Cost of Living Index of 100, Clarksville's living expenses are on par with the national average. Therefore, the $76,070 salary offers purchasing power equivalent to the national average.
What does the total workforce size suggest about the Loan Officer job market in Clarksville?
A total local workforce of 240 Loan Officers suggests a moderately sized market, indicating a steady demand for these professionals without extreme competition or scarcity.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 240 employees in the Clarksville, TN-KY area with a job density of 2.373 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Loan Officers Salaries by State
Top Jobs in Clarksville, TN-KY
- All Occupations Salary in Clarksville, TN-KY
- Office and Administrative Support Occupations Salary in Clarksville, TN-KY
- Food Preparation and Serving Related Occupations Salary in Clarksville, TN-KY
- Production Occupations Salary in Clarksville, TN-KY
- Transportation and Material Moving Occupations Salary in Clarksville, TN-KY
- Sales and Related Occupations Salary in Clarksville, TN-KY
- Educational Instruction and Library Occupations Salary in Clarksville, TN-KY
- Healthcare Practitioners and Technical Occupations Salary in Clarksville, TN-KY
- Management Occupations Salary in Clarksville, TN-KY
- Installation, Maintenance, and Repair Occupations Salary in Clarksville, TN-KY
- Browse All Jobs in Clarksville, TN-KY →
Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in Clarksville, TN-KY