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Average Loan Officers Salary in Columbus, OH

Loan Officers in Columbus, OH, command an impressive average annual salary of $87,500. This figure slightly surpasses the national average of $86,220, indicating a robust local demand for these financial professionals. The economic landscape and specific financial service needs within Columbus likely contribute to this competitive compensation.

Executive Summary

  • Average Salary: $87,500 per year.
  • Growth Trend: Salaries have shifted 22.0% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $152,930.
  • Outlook: With a local workforce of 2,240 Loan Officers, Columbus, OH, presents a significant concentration of talent. The Location Quotient of 1.09 suggests that this role is slightly more prevalent in Columbus than the national average, hinting at a stable and potentially growing job market for experienced professionals in this sector.
2024 Market Data

Salary Overview

$87,500

The average Loan Officers in Columbus, OH earns+1.5%above the national average.

BreakdownBased on 40h/week
Hourly

$42.1

Weekly

$1,683

Monthly

$7,292

Loan Officers Salary Distribution in Columbus, OH

The career trajectory for Loan Officers in Columbus, OH, typically involves significant salary progression with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with a proven track record and extensive client networks can command salaries in the upper percentiles, reflecting their increased value and expertise.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$39,490$19
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$65,625$31.6
ManagerOversees team, compliance, and project delivery.50% (Median)$78,350$37.7
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$109,375$52.6
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$152,930$73.5

Detailed Loan Officers Market Analysis

Relocation Context

Nominal Salary

$87,500

Gross Pay

Real Wage (Purchasing Power)

$87,500

Adjusted for COL (100)

The average annual salary of $87,500 in Columbus, OH, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Loan Officer's salary in Columbus is equivalent to the national average, offering financial stability and predictability for residents.

Job Market Context

2,240

Total Jobs

2.061

Per 1K Jobs

1.09

Location Quotient

Above Average

With a location quotient of 1.09, Columbus, OH has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.

A Location Quotient of 1.09 for Loan Officers in Columbus, OH, indicates a job market that is slightly more concentrated than the national average. This suggests a healthy demand for these professionals, potentially offering more opportunities and a competitive environment for both employers and job seekers within the local financial services industry.

Nearby Job Markets

Nearby Cities for Loan Officers

CitySalaryDist.
North Northeastern Ohio nonmetropolitan area (noncontiguous) Loan Officers Salary$75,870↓ 13%32 mi
West Northwestern Ohio nonmetropolitan area Loan Officers Salary$78,070↓ 11%32 mi
Eastern Ohio nonmetropolitan area Loan Officers Salary$73,410↓ 16%32 mi
Southern Ohio nonmetropolitan area Loan Officers Salary$69,570↓ 20%32 mi
Springfield, OH Loan Officers Salary$84,670↓ 3%42 mi

Comparing salaries near Columbus, OH

Hiring Loan Officerss?

Frequently Asked Questions

How much does a Loan Officers make in Columbus, OH?

The median annual salary for a Loan Officers in Columbus, OH is $87,500. This typically ranges from $39,490 for entry-level positions to $152,930 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Columbus, OH is 1.5% higher than the national median of $86,220.

Is Columbus, OH a lucrative place for Loan Officers?

Yes, Columbus, OH, offers a competitive environment for Loan Officers.The average salary of $87,500 is slightly above the national average, and the cost of living is exactly at the national average, providing strong purchasing power.

Is Columbus, OH a good place to live for Loan Officers?

The Cost of Living Index in Columbus, OH is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Columbus, OH?

Some top paying nearby cities include North Northeastern Ohio nonmetropolitan area (noncontiguous) ($75,870) and West Northwestern Ohio nonmetropolitan area.

How does the Columbus Loan Officer salary compare to the national average?

Loan Officers in Columbus, OH, earn an average of $87,500 annually, which is slightly higher than the national average of $86,220.

What is the cost of living like for Loan Officers in Columbus, OH?

The cost of living in Columbus, OH, is precisely at the national average (index of 100), meaning your salary of $87,500 will have the same purchasing power as it would nationally.

How concentrated is the Loan Officer job market in Columbus, OH?

With a Location Quotient of 1.09, the market for Loan Officers in Columbus is slightly more concentrated than the national average, suggesting a healthy presence and demand for these roles.

What is the total number of Loan Officers employed in Columbus, OH?

There are approximately 2,240 Loan Officers employed in the Columbus, OH, metropolitan area.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,240 employees in the Columbus, OH area with a job density of 2.061 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in Columbus, OH