Average Loan Officers Salary in Lafayette, LA
Loan Officers in Lafayette, LA, earn an average annual salary of $69,310. This figure is notably below the national average of $86,220, suggesting that local market dynamics, such as regional demand and the specific economic landscape of Louisiana, play a significant role in compensation levels.
Executive Summary
- Average Salary: $69,310 per year.
- Growth Trend: Salaries have shifted 41.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $132,870.
- Outlook: With a total local workforce of 320 Loan Officers and a Location Quotient of 0.96, Lafayette presents a job market that closely mirrors the national concentration of this profession. The presence of 1.815 jobs per 1,000 workers indicates a stable, albeit not exceptionally high, demand for loan officers within the region, suggesting a steady employment environment.
Salary Overview
The average Loan Officers in Lafayette, LA earns-19.6%below the national average.
$33.3
$1,333
$5,776
Loan Officers Salary Trends (2020-2024)
While specific historical data for Lafayette is not provided, it is reasonable to assume that salaries for Loan Officers in the region have experienced gradual growth over the past four years, mirroring national trends. Economic fluctuations and evolving lending practices likely contribute to incremental increases in compensation, reflecting a dynamic professional landscape.
Loan Officers Salary Distribution in Lafayette, LA
Salary progression for Loan Officers in Lafayette, LA, typically correlates with experience. Entry-level positions may start at the lower end of the pay scale, while seasoned professionals with a proven track record and advanced skills can command significantly higher salaries. The percentile gaps in earnings underscore the career advancement opportunities available through skill development and tenure.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $27,950 | $13.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $51,983 | $25 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $49,920 | $24 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $86,638 | $41.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $132,870 | $63.9 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$69,310
Gross Pay
Real Wage (Purchasing Power)
$69,310
Adjusted for COL (100)
The average annual salary of $69,310 in Lafayette, LA, aligns precisely with the national average Cost of Living Index of 100. This means that the purchasing power of a Loan Officer's salary in Lafayette is equivalent to the national average, offering a balanced financial standing relative to the cost of goods and services.
Job Market Context
320
Total Jobs
1.815
Per 1K Jobs
0.96
Location Quotient
Lafayette, LA has 0.96x 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 0.96 indicates that Lafayette, LA, has a slightly lower concentration of Loan Officers compared to the national average. This suggests that while the profession is well-represented, the market is not oversaturated, potentially offering a competitive yet accessible environment for both new entrants and experienced professionals seeking opportunities.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Baton Rouge, LA Loan Officers Salary | $72,340↑ 4% | 56 mi |
| Southwest Louisiana nonmetropolitan area Loan Officers Salary | $61,970↓ 11% | 67 mi |
| Central Louisiana nonmetropolitan area Loan Officers Salary | $65,300↓ 6% | 67 mi |
| Northeast Louisiana nonmetropolitan area Loan Officers Salary | $65,670↓ 5% | 67 mi |
| Lake Charles, LA Loan Officers Salary | $66,930↓ 3% | 70 mi |
Comparing salaries near Lafayette, LA
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Lafayette, LA?
The median annual salary for a Loan Officers in Lafayette, LA is $69,310. This typically ranges from $27,950 for entry-level positions to $132,870 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lafayette, LA is 19.6% lower than the national median of $86,220.
Is Lafayette, LA a lucrative place for Loan Officers?
No, but it offers stability.While the average salary of $69,310 is below the national average, the cost of living is also at the national average, providing equivalent purchasing power. The market shows stable demand without excessive competition.
Is Lafayette, LA a good place to live for Loan Officers?
The Cost of Living Index in Lafayette, LA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lafayette, LA?
Some top paying nearby cities include Baton Rouge, LA ($72,340) and Southwest Louisiana nonmetropolitan area.
How does Lafayette's Loan Officer salary compare to the national average?
Loan Officers in Lafayette, LA, earn an average of $69,310 annually, which is less than the national average of $86,220.
What is the cost of living in Lafayette, LA for Loan Officers?
The cost of living in Lafayette, LA, is at the national average (index of 100), meaning your salary has the same purchasing power as it would nationally.
How concentrated is the Loan Officer job market in Lafayette, LA?
The job market for Loan Officers in Lafayette, LA, is slightly less concentrated than the national average, with a Location Quotient of 0.96.
What is the total number of Loan Officers in Lafayette, LA?
There are approximately 320 Loan Officers employed in Lafayette, LA.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 320 employees in the Lafayette, LA area with a job density of 1.815 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 Lafayette, LA