Average Loan Officers Salary in Fort Smith, AR-OK
Loan Officers in Fort Smith, AR-OK, command an impressive average annual salary of $86,670, slightly surpassing the national average of $86,220. This parity suggests that local economic factors and demand within the Fort Smith region are closely aligned with national trends, creating a stable compensation environment for these financial professionals.
Executive Summary
- Average Salary: $86,670 per year.
- Growth Trend: Salaries have shifted 48.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $159,490.
- Outlook: With a total local workforce of 200 Loan Officers, Fort Smith demonstrates a moderate concentration of talent. The Location Quotient of 1.11 indicates a slightly higher prevalence of these roles compared to the national average, suggesting a steady, if not rapidly expanding, demand for skilled Loan Officers within the region's financial sector.
Salary Overview
The average Loan Officers in Fort Smith, AR-OK earns+0.5%above the national average.
$41.7
$1,667
$7,223
Loan Officers Salary Trends (2020-2024)
While specific historical data for Fort Smith is not provided, it's reasonable to assume that Loan Officer salaries in the region have mirrored national trends over the past four years, likely experiencing gradual growth. This growth would be influenced by factors such as evolving interest rates, housing market dynamics, and the overall economic health of the Fort Smith metropolitan area.
Loan Officers Salary Distribution in Fort Smith, AR-OK
The salary progression for Loan Officers in Fort Smith, AR-OK, typically sees significant increases with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with a proven track record can command salaries well into the upper percentiles, reflecting their expertise in navigating complex financial transactions and client relationships.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,190 | $17.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $65,003 | $31.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $76,500 | $36.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $108,338 | $52.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $159,490 | $76.7 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$86,670
Gross Pay
Real Wage (Purchasing Power)
$86,670
Adjusted for COL (100)
The average annual salary of $86,670 in Fort Smith, AR-OK, 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 Fort Smith is equivalent to the national average, offering a stable financial footing without the added pressure of significantly higher or lower living expenses.
Job Market Context
200
Total Jobs
2.086
Per 1K Jobs
1.11
Location Quotient
With a location quotient of 1.11, Fort Smith, AR-OK has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
A Location Quotient of 1.11 for Loan Officers in Fort Smith, AR-OK, signifies a job market that is marginally more concentrated than the national average. This suggests a healthy, established presence of Loan Officer roles, indicating a competitive yet accessible market for both new entrants and experienced professionals seeking opportunities in the area.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Fayetteville-Springdale-Rogers, AR Loan Officers Salary | $95,240↑ 10% | 51 mi |
| Hot Springs, AR Loan Officers Salary | $82,350↓ 5% | 96 mi |
Comparing salaries near Fort Smith, AR-OK
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Frequently Asked Questions
How much does a Loan Officers make in Fort Smith, AR-OK?
The median annual salary for a Loan Officers in Fort Smith, AR-OK is $86,670. This typically ranges from $37,190 for entry-level positions to $159,490 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Fort Smith, AR-OK is 0.5% higher than the national median of $86,220.
Is Fort Smith, AR-OK a lucrative place for Loan Officers?
Yes, it offers competitive compensation.Loan Officers in Fort Smith earn an average of $86,670, which is on par with the national average. The cost of living is also at the national average, making the salary highly competitive.
Is Fort Smith, AR-OK a good place to live for Loan Officers?
The Cost of Living Index in Fort Smith, AR-OK is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Fort Smith, AR-OK?
Some top paying nearby cities include Fayetteville-Springdale-Rogers, AR ($95,240) and Hot Springs, AR.
How does the Fort Smith Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Fort Smith, AR-OK, is $86,670, which is slightly higher than the national average of $86,220.
What is the Cost of Living in Fort Smith, AR-OK for Loan Officers?
The Cost of Living Index in Fort Smith, AR-OK, is 100, which is exactly the national average, indicating that living expenses are neither significantly higher nor lower than the typical US city.
How concentrated is the Loan Officer job market in Fort Smith?
The Loan Officer job market in Fort Smith has a Location Quotient of 1.11, suggesting a slightly higher concentration of these roles compared to the national average.
What does the number of jobs per 1,000 workers indicate for Loan Officers in Fort Smith?
With 2.086 jobs per 1,000 workers, Fort Smith shows a steady demand for Loan Officers, aligning with the slightly above-average concentration indicated by the Location Quotient.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 200 employees in the Fort Smith, AR-OK area with a job density of 2.086 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 Fort Smith, AR-OK