Average Loan Officers Salary in Madison, WI
Loan Officers in Madison, WI, earn an impressive average annual salary of $92,560, surpassing the national average of $86,220. This higher compensation in Madison is likely influenced by a combination of local economic factors and the specific demands of the financial services sector within the region. The stability and growth of the local economy often dictate the competitive salary landscape for specialized roles like loan origination.
Executive Summary
- Average Salary: $92,560 per year.
- Growth Trend: Salaries have shifted 9.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $154,440.
- Outlook: With a local workforce of 680 Loan Officers and a Location Quotient of 0.89, Madison presents a stable, albeit slightly below national average concentration, job market for this profession. The figure of 1.674 jobs per 1,000 workers indicates a consistent presence and demand for loan officers, suggesting a healthy environment for those seeking or maintaining employment in this field within the city.
Salary Overview
The average Loan Officers in Madison, WI earns+7.4%above the national average.
$44.5
$1,780
$7,713
Loan Officers Salary Trends (2020-2024)
While specific historical data for Madison's Loan Officer salaries over the past four years is not provided, it is reasonable to assume a trend of steady growth, mirroring national patterns. Economic recovery, shifts in interest rates, and increased demand for housing and business loans typically drive salary increases for loan officers. This upward trajectory is a common characteristic of the financial services industry in most metropolitan areas.
Loan Officers Salary Distribution in Madison, WI
The career path for Loan Officers in Madison, WI, shows significant earning potential as experience grows. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with a proven track record and specialized knowledge can command salaries in the upper percentiles. The increasing salary gap between junior and senior roles signifies clear opportunities for career advancement and higher compensation through skill development and performance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $50,610 | $24.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $69,420 | $33.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $81,580 | $39.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $115,700 | $55.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $154,440 | $74.3 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$92,560
Gross Pay
Real Wage (Purchasing Power)
$92,560
Adjusted for COL (100)
A nominal salary of $92,560 in Madison, WI, is particularly attractive given the local Cost of Living Index is exactly at the national average of 100. This means that the purchasing power of a Loan Officer's salary in Madison is equivalent to the national average, allowing for a comfortable standard of living without the added financial strain of a higher cost of living often seen in other major cities.
Job Market Context
680
Total Jobs
1.674
Per 1K Jobs
0.89
Location Quotient
Madison, WI has 0.89x 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.
The Location Quotient of 0.89 for Loan Officers in Madison suggests that the profession is slightly less concentrated than the national average. This indicates that while the market is not oversaturated, there is a steady demand for these professionals. Employers may need to offer competitive salaries to attract talent, but the market is not characterized by extreme scarcity, providing a balanced environment for both job seekers and employers.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Janesville-Beloit, WI Loan Officers Salary | $87,480↓ 5% | 33 mi |
| Rockford, IL Loan Officers Salary | $75,880↓ 18% | 59 mi |
| Fond du Lac, WI Loan Officers Salary | $87,320↓ 6% | 68 mi |
| Milwaukee-Waukesha, WI Loan Officers Salary | $93,700↑ 1% | 72 mi |
| Oshkosh-Neenah, WI Loan Officers Salary | $86,100↓ 7% | 77 mi |
Comparing salaries near Madison, WI
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Frequently Asked Questions
How much does a Loan Officers make in Madison, WI?
The median annual salary for a Loan Officers in Madison, WI is $92,560. This typically ranges from $50,610 for entry-level positions to $154,440 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Madison, WI is 7.4% higher than the national median of $86,220.
Is Madison, WI a lucrative place for Loan Officers?
Yes, Madison, WI offers a lucrative environment for Loan Officers.Loan Officers in Madison earn above the national average salary, and with a Cost of Living Index at the national average, their purchasing power is strong.
Is Madison, WI a good place to live for Loan Officers?
The Cost of Living Index in Madison, WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Madison, WI?
Some top paying nearby cities include Janesville-Beloit, WI ($87,480) and Rockford, IL.
How does Madison's Loan Officer salary compare to the national average?
Loan Officers in Madison, WI, earn an average of $92,560 annually, which is higher than the national average of $86,220.
What is the Cost of Living in Madison, WI for Loan Officers?
The Cost of Living Index in Madison, WI is 100, which is exactly the national average, meaning your salary has average purchasing power.
How concentrated is the Loan Officer job market in Madison, WI?
The Loan Officer job market in Madison has a Location Quotient of 0.89, indicating it is slightly less concentrated than the national average, suggesting a balanced demand.
What is the total number of Loan Officers in Madison, WI?
There are approximately 680 Loan Officers employed in Madison, WI.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 680 employees in the Madison, WI area with a job density of 1.674 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 Madison, WI