Average Loan Officers Salary in Huntington-Ashland, WV-KY-OH
Loan Officers in the Huntington-Ashland, WV-KY-OH metropolitan area can expect an average annual salary of $59,320. This figure is notably below the national average of $86,220, indicating that local market dynamics, such as regional demand and the specific economic landscape of this tri-state area, play a significant role in compensation levels.
Executive Summary
- Average Salary: $59,320 per year.
- Growth Trend: Salaries have shifted 8.1% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $95,640.
- Outlook: With a local workforce of 200 Loan Officers and a Location Quotient of 0.75, the job market in Huntington-Ashland suggests a slightly lower concentration of these professionals compared to the national average. While not indicating a shortage, this concentration implies a stable, albeit not booming, demand for Loan Officers within the region.
Salary Overview
The average Loan Officers in Huntington-Ashland, WV-KY-OH earns-31.2%below the national average.
$28.5
$1,141
$4,943
Loan Officers Salary Trends (2020-2024)
While specific historical data for the Huntington-Ashland area is not provided, it is reasonable to assume that salaries for Loan Officers have experienced gradual growth over the past four years, mirroring national trends. Economic shifts and evolving lending practices likely contribute to incremental increases in compensation, reflecting the ongoing importance of financial services professionals.
Loan Officers Salary Distribution in Huntington-Ashland, WV-KY-OH
Career progression for Loan Officers typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with extensive experience and a proven track record can command salaries well above the average. The percentile gaps in salary distributions clearly signify this career trajectory and the rewards of specialization and expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,660 | $17.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $44,490 | $21.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $49,260 | $23.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $74,150 | $35.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $95,640 | $46 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$59,320
Gross Pay
Real Wage (Purchasing Power)
$59,320
Adjusted for COL (100)
The nominal average salary of $59,320 for Loan Officers in Huntington-Ashland aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that while the salary is lower than the national average, the purchasing power of that salary is equivalent to the national average, making the cost of living a neutral factor in assessing the real value of this compensation.
Job Market Context
200
Total Jobs
1.411
Per 1K Jobs
0.75
Location Quotient
Huntington-Ashland, WV-KY-OH has 0.75x 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 0.75 for Loan Officers in Huntington-Ashland indicates that the profession is less concentrated in this area than it is nationally. This suggests that the market is neither oversaturated nor experiencing a significant deficit of Loan Officers, pointing towards a balanced employment landscape where opportunities exist but competition may be present.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Charleston, WV Loan Officers Salary | $59,150↓ 0% | 44 mi |
| Parkersburg-Vienna, WV Loan Officers Salary | $64,650↑ 9% | 76 mi |
| Beckley, WV Loan Officers Salary | $53,900↓ 9% | 80 mi |
Comparing salaries near Huntington-Ashland, WV-KY-OH
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Huntington-Ashland, WV-KY-OH?
The median annual salary for a Loan Officers in Huntington-Ashland, WV-KY-OH is $59,320. This typically ranges from $35,660 for entry-level positions to $95,640 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Huntington-Ashland, WV-KY-OH is 31.2% lower than the national median of $86,220.
Is Huntington-Ashland, WV-KY-OH a lucrative place for Loan Officers?
No, not compared to the national average.The average salary of $59,320 is significantly lower than the national average of $86,220. However, the cost of living is on par with the national average, meaning the lower nominal salary offers equivalent purchasing power locally.
Is Huntington-Ashland, WV-KY-OH a good place to live for Loan Officers?
The Cost of Living Index in Huntington-Ashland, WV-KY-OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Huntington-Ashland, WV-KY-OH?
Some top paying nearby cities include Charleston, WV ($59,150) and Parkersburg-Vienna, WV.
How does the local Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Huntington-Ashland is $59,320, which is considerably lower than the national average of $86,220.
What is the concentration of Loan Officers in Huntington-Ashland?
The Location Quotient for Loan Officers in Huntington-Ashland is 0.75, indicating that the profession is less concentrated here than the national average.
How does the cost of living affect the Loan Officer salary in Huntington-Ashland?
The cost of living in Huntington-Ashland is at the national average (100). This means that the lower nominal salary of $59,320 has a purchasing power equivalent to the national average.
What is the total number of Loan Officers in the Huntington-Ashland workforce?
There are approximately 200 Loan Officers employed within the Huntington-Ashland 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 200 employees in the Huntington-Ashland, WV-KY-OH area with a job density of 1.411 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 Huntington-Ashland, WV-KY-OH