Average Loan Officers Salary in Fayetteville-Springdale-Rogers, AR
Loan Officers in the Fayetteville-Springdale-Rogers, AR metropolitan area command an impressive average annual salary of $95,240, significantly surpassing the national average of $86,220. This elevated compensation is largely driven by the specific economic landscape and demand within this dynamic Arkansas region, reflecting local market conditions that favor higher pay for these financial professionals.
Executive Summary
- Average Salary: $95,240 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $159,630.
- Outlook: The job market for Loan Officers in Fayetteville-Springdale-Rogers, AR, appears robust, supported by a local workforce of 550 professionals in this role. With a Location Quotient of 1.09, the concentration of Loan Officers is slightly above the national average, indicating a healthy and potentially growing demand for their expertise within the region.
Salary Overview
The average Loan Officers in Fayetteville-Springdale-Rogers, AR earns+10.5%above the national average.
$45.8
$1,832
$7,937
Loan Officers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Loan Officers in Fayetteville-Springdale-Rogers, AR, have experienced steady growth over the past four years, mirroring national trends. Economic expansion and evolving financial service needs typically drive upward salary adjustments in this profession.
Loan Officers Salary Distribution in Fayetteville-Springdale-Rogers, AR
Career progression for Loan Officers in Fayetteville-Springdale-Rogers, AR, is clearly reflected in salary differentials. Entry-level positions typically start at lower percentiles, while seasoned professionals with extensive experience and a proven track record can command salaries in the higher percentiles, demonstrating significant earning potential as expertise grows.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $43,460 | $20.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $71,430 | $34.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $77,840 | $37.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $119,050 | $57.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $159,630 | $76.7 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$95,240
Gross Pay
Real Wage (Purchasing Power)
$95,240
Adjusted for COL (100)
The average annual salary of $95,240 for Loan Officers in Fayetteville-Springdale-Rogers, AR, offers excellent purchasing power. With a Cost of Living Index of 100, which is precisely the national average, this salary effectively translates to a standard of living equivalent to the national benchmark, making the area financially attractive.
Job Market Context
550
Total Jobs
2.056
Per 1K Jobs
1.09
Location Quotient
With a location quotient of 1.09, Fayetteville-Springdale-Rogers, AR has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
A Location Quotient of 1.09 suggests that Loan Officers are slightly more concentrated in Fayetteville-Springdale-Rogers, AR, than the national average. This indicates a competitive yet stable job market where demand is present and potentially slightly outstrips the national average, offering good opportunities for skilled professionals.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Fort Smith, AR-OK Loan Officers Salary | $86,670↓ 9% | 51 mi |
| Joplin, MO-KS Loan Officers Salary | $78,460↓ 18% | 72 mi |
| Springfield, MO Loan Officers Salary | $81,500↓ 14% | 91 mi |
| Tulsa, OK Loan Officers Salary | $86,980↓ 9% | 97 mi |
Comparing salaries near Fayetteville-Springdale-Rogers, AR
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Fayetteville-Springdale-Rogers, AR?
The median annual salary for a Loan Officers in Fayetteville-Springdale-Rogers, AR is $95,240. This typically ranges from $43,460 for entry-level positions to $159,630 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Fayetteville-Springdale-Rogers, AR is 10.5% higher than the national median of $86,220.
Is Fayetteville-Springdale-Rogers, AR a lucrative place for Loan Officers?
Yes, it is a lucrative place for Loan Officers.Loan Officers in this area earn significantly above the national average salary, and the cost of living is on par with the national average, providing strong financial benefits.
Is Fayetteville-Springdale-Rogers, AR a good place to live for Loan Officers?
The Cost of Living Index in Fayetteville-Springdale-Rogers, AR is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Fayetteville-Springdale-Rogers, AR?
Some top paying nearby cities include Fort Smith, AR-OK ($86,670) and Joplin, MO-KS.
How does the Fayetteville-Springdale-Rogers, AR salary compare to the national average?
The average annual salary for Loan Officers in Fayetteville-Springdale-Rogers, AR, is $95,240, which is $9,020 higher than the national average of $86,220.
What is the Cost of Living in Fayetteville-Springdale-Rogers, AR?
The Cost of Living Index for Fayetteville-Springdale-Rogers, AR, is 100, which is exactly the same as the national average.
How concentrated are Loan Officers in this area compared to the nation?
The Location Quotient of 1.09 indicates that Loan Officers are slightly more concentrated in Fayetteville-Springdale-Rogers, AR, than the national average, suggesting a healthy local demand.
What is the total number of Loan Officers in the Fayetteville-Springdale-Rogers, AR workforce?
There are approximately 550 Loan Officers employed within the Fayetteville-Springdale-Rogers, AR 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 550 employees in the Fayetteville-Springdale-Rogers, AR area with a job density of 2.056 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 Fayetteville-Springdale-Rogers, AR