Average Loan Officers Salary in Little Rock-North Little Rock-Conway, AR
Loan Officers in the Little Rock-North Little Rock-Conway, AR metropolitan area earn an average annual salary of $80,050. This figure is slightly below the national average of $86,220, reflecting a localized compensation structure influenced by regional economic factors and demand. While the nominal pay is lower than the national benchmark, the cost of living in Little Rock is precisely at the national average, suggesting a comparable purchasing power.
Executive Summary
- Average Salary: $80,050 per year.
- Growth Trend: Salaries have shifted 6.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $133,730.
- Outlook: The job market for Loan Officers in Little Rock-North Little Rock-Conway, AR appears stable, with a local workforce of 730 individuals in this role. The concentration, or Location Quotient, of 1.1 indicates a slightly higher presence of Loan Officers compared to the national average. This suggests a steady, if not slightly growing, demand for these professionals within the region, supporting a consistent employment landscape.
Salary Overview
The average Loan Officers in Little Rock-North Little Rock-Conway, AR earns-7.2%below the national average.
$38.5
$1,539
$6,671
Loan Officers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Loan Officers in Little Rock-North Little Rock-Conway, AR have experienced growth over the past four years, mirroring national trends. Economic recovery, shifts in interest rates, and evolving housing market dynamics typically drive incremental salary increases for financial professionals in this sector.
Loan Officers Salary Distribution in Little Rock-North Little Rock-Conway, AR
Career progression for Loan Officers in Little Rock-North Little Rock-Conway, AR typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with a proven track record and extensive client networks can command salaries in the higher percentiles, reflecting their value and expertise. The gap between entry-level and senior roles signifies substantial career growth potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,360 | $18 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $60,038 | $28.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $61,370 | $29.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $100,063 | $48.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $133,730 | $64.3 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$80,050
Gross Pay
Real Wage (Purchasing Power)
$80,050
Adjusted for COL (100)
The nominal average salary of $80,050 in Little Rock-North Little Rock-Conway, AR 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 this area is equivalent to that of someone earning the national average salary in a location with a national average cost of living. Therefore, the salary offers a standard lifestyle without significant financial strain related to living expenses.
Job Market Context
730
Total Jobs
2.068
Per 1K Jobs
1.1
Location Quotient
With a location quotient of 1.10, Little Rock-North Little Rock-Conway, AR has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
With a Location Quotient of 1.1, the Little Rock-North Little Rock-Conway, AR market shows a slightly higher concentration of Loan Officers than the national average. This suggests that the demand for these professionals is robust and potentially outpaces the national average in relative terms, making the market competitive but also indicative of ample opportunities for skilled individuals.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| South Arkansas nonmetropolitan area Loan Officers Salary | $81,220↑ 1% | 17 mi |
| North Arkansas nonmetropolitan area Loan Officers Salary | $80,330↑ 0% | 17 mi |
| West Arkansas nonmetropolitan area Loan Officers Salary | $74,350↓ 7% | 17 mi |
| East Arkansas nonmetropolitan area Loan Officers Salary | $83,690↑ 5% | 17 mi |
| Hot Springs, AR Loan Officers Salary | $82,350↑ 3% | 43 mi |
Comparing salaries near Little Rock-North Little Rock-Conway, AR
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Little Rock-North Little Rock-Conway, AR?
The median annual salary for a Loan Officers in Little Rock-North Little Rock-Conway, AR is $80,050. This typically ranges from $37,360 for entry-level positions to $133,730 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Little Rock-North Little Rock-Conway, AR is 7.2% lower than the national median of $86,220.
Is Little Rock-North Little Rock-Conway, AR a lucrative place for Loan Officers?
Yes, with a caveat.While the average salary is slightly below the national average, the cost of living is also at the national average, meaning your earning potential offers standard purchasing power. The slightly higher concentration of Loan Officers suggests a healthy job market.
Is Little Rock-North Little Rock-Conway, AR a good place to live for Loan Officers?
The Cost of Living Index in Little Rock-North Little Rock-Conway, AR is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Little Rock-North Little Rock-Conway, AR?
Some top paying nearby cities include South Arkansas nonmetropolitan area ($81,220) and North Arkansas nonmetropolitan area.
How does the Little Rock Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Little Rock-North Little Rock-Conway, AR is $80,050, which is approximately $6,170 less than the national average of $86,220.
What is the cost of living in Little Rock-North Little Rock-Conway, AR?
The cost of living index for Little Rock-North Little Rock-Conway, AR is 100, which is exactly the national average, indicating that everyday expenses are comparable to the rest of the country.
How many Loan Officers work in the Little Rock area?
There are approximately 730 Loan Officers employed within the Little Rock-North Little Rock-Conway, AR metropolitan area.
Is the job market for Loan Officers strong in Little Rock?
The Location Quotient of 1.1 suggests a slightly higher concentration of Loan Officers than the national average, indicating a healthy and potentially growing demand for these professionals in the region.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 730 employees in the Little Rock-North Little Rock-Conway, AR area with a job density of 2.068 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 Little Rock-North Little Rock-Conway, AR