Average Loan Officers Salary in Elmira, NY
Yes, Elmira, NY is a highly lucrative market for Loan Officerss. With an average annual salary of $123,770, professionals here earn significantly more than the national norm.
Executive Summary
- Average Salary: $123,770 per year.
- Growth Trend: Salaries have shifted 45.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $224,990.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 40 professionals. This role remains a specialized component of the broader Elmira, NY economy.
Salary Overview
The average Loan Officers in Elmira, NY earns+43.6%above the national average.
$59.5
$2,380
$10,314
Loan Officers Salary Trends (2020-2024)
Over the past 4 years, Loan Officers salaries in Elmira, NY have experienced a rapid surge, growing by 45.2%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Elmira, NY
The earning potential for Loan Officerss in Elmira, NY varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 4.9x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $45,900, while highly experienced professionals can command wages upwards of $224,990.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $45,900 | $22.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $92,828 | $44.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $106,430 | $51.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $154,713 | $74.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $224,990 | $108.2 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$123,770
Gross Pay
Real Wage (Purchasing Power)
$123,770
Adjusted for COL (100)
In Elmira, NY, the Cost of Living Index is 100. This increases your effective purchasing power from $123,770 to $123,770.
Job Market Context
40
Total Jobs
1.178
Per 1K Jobs
0.62
Location Quotient
Elmira, NY has 0.62x 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.
40 people work as Loan Officers in Elmira, NY.
1.178 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↓ 35% | 29 mi |
| Binghamton, NY Loan Officers Salary | $102,680↓ 17% | 46 mi |
| Williamsport, PA Loan Officers Salary | $70,710↓ 43% | 60 mi |
| Northwestern Pennsylvania nonmetropolitan area Loan Officers Salary | $59,650↓ 52% | 65 mi |
| Central Pennsylvania nonmetropolitan area Loan Officers Salary | $66,350↓ 46% | 65 mi |
Comparing salaries near Elmira, NY
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Elmira, NY?
The median annual salary for a Loan Officers in Elmira, NY is $123,770. This typically ranges from $45,900 for entry-level positions to $224,990 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Elmira, NY is 43.6% higher than the national median of $86,220.
Is Elmira, NY a good place for Loan Officerss?
Yes, Elmira, NY is financially attractive for Loan Officerss. The average salary of $123,770 exceeds the national average. See distinct detailed breakdown below.
Is Elmira, NY a good place to live for Loan Officers?
The Cost of Living Index in Elmira, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Elmira, NY?
Some top paying nearby cities include Ithaca, NY ($80,670) and Binghamton, NY.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 40 employees in the Elmira, NY area with a job density of 1.178 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 Elmira, NY