Average Loan Officers Salary in Jackson, MI
The average salary for Loan Officerss in Jackson, MI is $69,310. While this is lower than the national average, the cost of living in Jackson, MI may offset the difference, preserving real purchasing power.
Executive Summary
- Average Salary: $69,310 per year.
- Growth Trend: Salaries have shifted 4.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $120,150.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 110 professionals. This role remains a specialized component of the broader Jackson, MI economy.
Salary Overview
The average Loan Officers in Jackson, MI earns-19.6%below the national average.
$33.3
$1,333
$5,776
Loan Officers Salary Trends (2020-2024)
Over the past 3 years, Loan Officers salaries in Jackson, MI have remained stable with a modest increase of 4.7%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Jackson, MI
The earning potential for Loan Officerss in Jackson, MI varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 3.4x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $35,350, while highly experienced professionals can command wages upwards of $120,150.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,350 | $17 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $51,983 | $25 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $59,550 | $28.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $86,638 | $41.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $120,150 | $57.8 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$69,310
Gross Pay
Real Wage (Purchasing Power)
$69,310
Adjusted for COL (100)
In Jackson, MI, the Cost of Living Index is 100. This increases your effective purchasing power from $69,310 to $69,310.
Job Market Context
110
Total Jobs
2.017
Per 1K Jobs
1.07
Location Quotient
With a location quotient of 1.07, Jackson, MI has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
110 people work as Loan Officers in Jackson, MI.
Moderate density — roughly 2.017 out of every 1,000 local jobs are in this profession.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Lansing-East Lansing, MI Loan Officers Salary | $78,220↑ 13% | 34 mi |
| Ann Arbor, MI Loan Officers Salary | $74,170↑ 7% | 34 mi |
| Battle Creek, MI Loan Officers Salary | $59,510↓ 14% | 42 mi |
| Monroe, MI Loan Officers Salary | $65,550↓ 5% | 57 mi |
| Toledo, OH Loan Officers Salary | $70,030↑ 1% | 58 mi |
Comparing salaries near Jackson, MI
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Frequently Asked Questions
How much does a Loan Officers make in Jackson, MI?
The median annual salary for a Loan Officers in Jackson, MI is $69,310. This typically ranges from $35,350 for entry-level positions to $120,150 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Jackson, MI is 19.6% lower than the national median of $86,220.
Is Jackson, MI a good place for Loan Officerss?
It depends on your priorities. While the average Loan Officers salary in Jackson, MI is $69,310 (below the national average), the area may offer a lower cost of living or other lifestyle benefits typical of Jackson, MI. See distinct detailed breakdown below.
Is Jackson, MI a good place to live for Loan Officers?
The Cost of Living Index in Jackson, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Jackson, MI?
Some top paying nearby cities include Lansing-East Lansing, MI ($78,220) and Ann Arbor, MI.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 110 employees in the Jackson, MI area with a job density of 2.017 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 Jackson, MI