Average Loan Officers Salary in Ithaca, NY
The average salary for a Loan Officers in Ithaca, NY is $80,670. This compensation is in line with national standards, reflecting a balanced and stable local job market.
Executive Summary
- Average Salary: $80,670 per year.
- Growth Trend: Salaries have shifted 16.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $130,210.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 70 professionals. This role remains a specialized component of the broader Ithaca, NY economy.
Salary Overview
The average Loan Officers in Ithaca, NY earns-6.4%below the national average.
$38.8
$1,551
$6,723
Loan Officers Salary Trends (2020-2024)
Over the past 4 years, Loan Officers salaries in Ithaca, NY have shown healthy growth of 16.6%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Ithaca, NY
The earning potential for Loan Officerss in Ithaca, NY varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 3.2x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $40,420, while highly experienced professionals can command wages upwards of $130,210.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $40,420 | $19.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $60,503 | $29.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $64,470 | $31 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $100,838 | $48.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $130,210 | $62.6 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$80,670
Gross Pay
Real Wage (Purchasing Power)
$80,670
Adjusted for COL (100)
In Ithaca, NY, the Cost of Living Index is 100. This increases your effective purchasing power from $80,670 to $80,670.
Job Market Context
70
Total Jobs
1.389
Per 1K Jobs
0.74
Location Quotient
Ithaca, NY has 0.74x 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.
70 people work as Loan Officers in Ithaca, NY.
1.389 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. |
|---|---|---|
| Elmira, NY Loan Officers Salary | $123,770↑ 53% | 29 mi |
| Binghamton, NY Loan Officers Salary | $102,680↑ 27% | 39 mi |
| Syracuse, NY Loan Officers Salary | $97,570↑ 21% | 45 mi |
| Rochester, NY Loan Officers Salary | $102,540↑ 27% | 75 mi |
| Utica-Rome, NY Loan Officers Salary | $77,770↓ 4% | 79 mi |
Comparing salaries near Ithaca, NY
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Ithaca, NY?
The median annual salary for a Loan Officers in Ithaca, NY is $80,670. This typically ranges from $40,420 for entry-level positions to $130,210 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Ithaca, NY is 6.4% lower than the national median of $86,220.
Is Ithaca, NY a good place for Loan Officerss?
It depends on your priorities. While the average Loan Officers salary in Ithaca, NY is $80,670 (below the national average), the area may offer a lower cost of living or other lifestyle benefits typical of Ithaca, NY. See distinct detailed breakdown below.
Is Ithaca, NY a good place to live for Loan Officers?
The Cost of Living Index in Ithaca, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Ithaca, NY?
Some top paying nearby cities include Elmira, NY ($123,770) 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 70 employees in the Ithaca, NY area with a job density of 1.389 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 Ithaca, NY