Average Loan Officers Salary in Evansville, IN
Loan Officers in Evansville, Indiana, earn an average annual salary of $70,030. This figure is notably below the national average of $86,220, suggesting that local market dynamics, such as demand and the cost of doing business, play a significant role in compensation levels within this specific region.
Executive Summary
- Average Salary: $70,030 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $119,880.
- Outlook: The Evansville, IN job market for Loan Officers presents a stable, albeit not exceptionally concentrated, employment landscape. With a total local workforce of 240 individuals in this role and a Location Quotient of 0.95, the demand for Loan Officers is nearly on par with the national average, indicating a steady need for these professionals without significant oversupply or undersupply.
Salary Overview
The average Loan Officers in Evansville, IN earns-18.8%below the national average.
$33.7
$1,347
$5,836
Loan Officers Salary Trends (2020-2024)
While specific historical data for Evansville's Loan Officer salaries over the past four years is not provided, it is reasonable to assume a general upward trend mirroring national patterns. Economic growth, evolving lending regulations, and inflation typically contribute to incremental salary increases for financial professionals, suggesting that Loan Officers in Evansville have likely seen their earning potential grow over time.
Loan Officers Salary Distribution in Evansville, IN
The career trajectory for Loan Officers in Evansville, IN, typically involves a clear progression in earning potential. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive experience and a proven track record can command salaries significantly higher, often reaching into the upper percentiles. These percentile gaps underscore the value placed on expertise and performance within the lending industry.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,600 | $18.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $52,523 | $25.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $58,110 | $27.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $87,538 | $42.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $119,880 | $57.6 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$70,030
Gross Pay
Real Wage (Purchasing Power)
$70,030
Adjusted for COL (100)
For a Loan Officer considering a move to Evansville, IN, the nominal salary of $70,030 aligns perfectly with the local Cost of Living Index of 100. This means that the purchasing power of the average salary in Evansville is equivalent to the national average, offering a stable financial foundation without the immediate pressure of higher or lower living expenses.
Job Market Context
240
Total Jobs
1.799
Per 1K Jobs
0.95
Location Quotient
Evansville, IN has 0.95x 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.
With a Location Quotient of 0.95, the job market for Loan Officers in Evansville, IN, is neither exceptionally concentrated nor sparse compared to the national landscape. This suggests a balanced market where opportunities exist, but the intense competition or scarcity sometimes seen in highly specialized or saturated markets is less pronounced, offering a moderate level of job security and potential for growth.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Owensboro, KY Loan Officers Salary | $64,800↓ 7% | 28 mi |
| Paducah, KY-IL Loan Officers Salary | $81,710↑ 17% | 88 mi |
| Bowling Green, KY Loan Officers Salary | $88,750↑ 27% | 92 mi |
| Elizabethtown, KY Loan Officers Salary | $78,910↑ 13% | 93 mi |
| Bloomington, IN Loan Officers Salary | $74,850↑ 7% | 98 mi |
Comparing salaries near Evansville, IN
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Evansville, IN?
The median annual salary for a Loan Officers in Evansville, IN is $70,030. This typically ranges from $37,600 for entry-level positions to $119,880 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Evansville, IN is 18.8% lower than the national median of $86,220.
Is Evansville, IN a lucrative place for Loan Officers?
No, not more lucrative than the national average.While the average salary of $70,030 is stable relative to the national cost of living, it falls below the national average salary for Loan Officers.
Is Evansville, IN a good place to live for Loan Officers?
The Cost of Living Index in Evansville, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Evansville, IN?
Some top paying nearby cities include Owensboro, KY ($64,800) and Paducah, KY-IL.
How does Evansville's Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Evansville, IN, is $70,030, which is lower than the national average of $86,220.
What is the cost of living in Evansville, IN?
Evansville, IN, has a Cost of Living Index of 100, which is exactly the national average.
How many Loan Officers work in Evansville, IN?
There are approximately 240 Loan Officers employed in Evansville, IN.
Is there high demand for Loan Officers in Evansville, IN?
The Location Quotient of 0.95 suggests that the concentration of Loan Officers in Evansville is very close to the national average, indicating a stable but not exceptionally high demand.
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 Evansville, IN area with a job density of 1.799 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 Evansville, IN