Average Loan Officers Salary in Eastern North Carolina nonmetropolitan area
In the Eastern North Carolina nonmetropolitan area, Loan Officers earn an average annual salary of $70,610. This figure is notably below the national average of $86,220, reflecting regional economic factors and a potentially lower demand for specialized financial services compared to larger metropolitan hubs. The specific economic landscape and industry concentration within this region directly influence compensation levels for these vital financial professionals.
Executive Summary
- Average Salary: $70,610 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $114,720.
- Outlook: With a local workforce of 380 Loan Officers, the job market in Eastern North Carolina nonmetropolitan area presents a modest employment base. The Location Quotient of 0.78 indicates that the concentration of Loan Officers is slightly below the national average, suggesting that while the profession is present, it is not a dominant sector within the local economy. This suggests a stable but not rapidly expanding demand for these roles.
Salary Overview
The average Loan Officers in Eastern North Carolina nonmetropolitan area earns-18.1%below the national average.
$34
$1,358
$5,884
Loan Officers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Loan Officers in Eastern North Carolina nonmetropolitan areas have experienced gradual growth over the past four years, mirroring general economic trends and inflation. This growth would likely be influenced by shifts in interest rates, housing market activity, and the overall financial health of the region, leading to modest but consistent increases in average compensation.
Loan Officers Salary Distribution in Eastern North Carolina nonmetropolitan area
The salary trajectory for Loan Officers typically escalates with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with a proven track record in sales, client management, and regulatory compliance can command salaries in the higher percentiles. These increasing salary brackets signify substantial career progression and the accumulation of valuable expertise within the lending industry.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,880 | $18.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $52,958 | $25.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $59,800 | $28.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $88,263 | $42.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $114,720 | $55.2 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$70,610
Gross Pay
Real Wage (Purchasing Power)
$70,610
Adjusted for COL (100)
The average annual salary of $70,610 in Eastern North Carolina nonmetropolitan area 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 this region is equivalent to the national average, offering a balanced financial standing without the premium or discount typically associated with areas having significantly higher or lower living costs.
Job Market Context
380
Total Jobs
1.463
Per 1K Jobs
0.78
Location Quotient
Eastern North Carolina nonmetropolitan area has 0.78x 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 0.78 for Loan Officers in Eastern North Carolina nonmetropolitan area suggests a job market that is slightly less concentrated than the national average. This indicates that while there is a consistent need for these professionals, the market is not saturated, potentially offering good opportunities for skilled individuals without facing intense competition from a high density of peers.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Greensboro-High Point, NC Loan Officers Salary | $77,550↑ 10% | 32 mi |
| Pinehurst-Southern Pines, NC Loan Officers Salary | $83,680↑ 19% | 36 mi |
| Burlington, NC Loan Officers Salary | $55,290↓ 22% | 36 mi |
| Winston-Salem, NC Loan Officers Salary | $77,970↑ 10% | 41 mi |
| Durham-Chapel Hill, NC Loan Officers Salary | $87,850↑ 24% | 56 mi |
Comparing salaries near Eastern North Carolina nonmetropolitan area
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Eastern North Carolina nonmetropolitan area?
The median annual salary for a Loan Officers in Eastern North Carolina nonmetropolitan area is $70,610. This typically ranges from $37,880 for entry-level positions to $114,720 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Eastern North Carolina nonmetropolitan area is 18.1% lower than the national median of $86,220.
Is Eastern North Carolina nonmetropolitan area a lucrative place for Loan Officers?
No, not compared to the national average.The average salary of $70,610 is significantly lower than the national average of $86,220. However, the cost of living is also at the national average, making the nominal salary's purchasing power comparable nationally.
Is Eastern North Carolina nonmetropolitan area a good place to live for Loan Officers?
The Cost of Living Index in Eastern North Carolina nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Eastern North Carolina nonmetropolitan area?
Some top paying nearby cities include Greensboro-High Point, NC ($77,550) and Pinehurst-Southern Pines, NC.
How does the local Loan Officer salary compare to the national average?
Loan Officers in Eastern North Carolina nonmetropolitan area earn an average of $70,610 annually, which is approximately $15,610 less than the national average of $86,220.
What is the concentration of Loan Officers in this region?
The concentration, measured by the Location Quotient, is 0.78, indicating that Loan Officers are slightly less prevalent in this nonmetropolitan area compared to the national average.
How does the Cost of Living affect the Loan Officer salary in Eastern North Carolina?
With a Cost of Living Index of 100, the local salary of $70,610 has the same purchasing power as the national average salary, meaning expenses are neither significantly higher nor lower than the national norm.
What is the total number of Loan Officers in this area?
There are approximately 380 Loan Officers employed in the Eastern North Carolina nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 380 employees in the Eastern North Carolina nonmetropolitan area area with a job density of 1.463 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 Eastern North Carolina nonmetropolitan area