Average Loan Officers Salary in Mayaguez, PR
The average salary for Loan Officerss in Mayaguez, PR is $40,440. While this is lower than the national average, the cost of living in Mayaguez, PR may offset the difference, preserving real purchasing power.
Executive Summary
- Average Salary: $40,440 per year.
- Growth Trend: Salaries have shifted 7.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $68,250.
- 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 Mayaguez, PR economy.
Salary Overview
The average Loan Officers in Mayaguez, PR earns-53.1%below the national average.
$19.4
$778
$3,370
Loan Officers Salary Trends (2020-2024)
Over the past 4 years, Loan Officers salaries in Mayaguez, PR have remained stable with a modest increase of 7.0%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Mayaguez, PR
The earning potential for Loan Officerss in Mayaguez, PR varies significantly by experience level. The salary gap is relatively narrow, suggesting consistent and predictable earnings from entry-level to senior positions. Entry-level roles (10th percentile) typically start around $28,390, while highly experienced professionals can command wages upwards of $68,250.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $28,390 | $13.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $30,330 | $14.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $35,170 | $16.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $50,550 | $24.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $68,250 | $32.8 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$40,440
Gross Pay
Real Wage (Purchasing Power)
$40,440
Adjusted for COL (100)
In Mayaguez, PR, the Cost of Living Index is 100. This increases your effective purchasing power from $40,440 to $40,440.
Job Market Context
110
Total Jobs
2.144
Per 1K Jobs
1.14
Location Quotient
With a location quotient of 1.14, Mayaguez, PR has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
110 people work as Loan Officers in Mayaguez, PR.
Moderate density — roughly 2.144 out of every 1,000 local jobs are in this profession.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Aguadilla, PR Loan Officers Salary | $34,600↓ 14% | 16 mi |
| Arecibo, PR Loan Officers Salary | $36,320↓ 10% | 29 mi |
| Puerto Rico nonmetropolitan area Loan Officers Salary | $33,920↓ 16% | 33 mi |
| Ponce, PR Loan Officers Salary | $40,550↑ 0% | 34 mi |
Comparing salaries near Mayaguez, PR
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Mayaguez, PR?
The median annual salary for a Loan Officers in Mayaguez, PR is $40,440. This typically ranges from $28,390 for entry-level positions to $68,250 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Mayaguez, PR is 53.1% lower than the national median of $86,220.
Is Mayaguez, PR a good place for Loan Officerss?
It depends on your priorities. While the average Loan Officers salary in Mayaguez, PR is $40,440 (below the national average), the area may offer a lower cost of living or other lifestyle benefits typical of Mayaguez, PR. See distinct detailed breakdown below.
Is Mayaguez, PR a good place to live for Loan Officers?
The Cost of Living Index in Mayaguez, PR is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Mayaguez, PR?
Some top paying nearby cities include Aguadilla, PR ($34,600) and Arecibo, PR.
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 Mayaguez, PR area with a job density of 2.144 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 Mayaguez, PR