Average Loan Officers Salary in Milwaukee-Waukesha, WI
Loan Officers in Milwaukee-Waukesha, WI, command an impressive average annual salary of $93,700. This figure notably surpasses the national average of $86,220, indicating a favorable compensation landscape within the region. Local economic factors and demand dynamics likely contribute to this elevated pay scale for financial professionals.
Executive Summary
- Average Salary: $93,700 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $142,870.
- Outlook: With a local workforce of 1,290 Loan Officers, Milwaukee-Waukesha presents a substantial, albeit not overwhelmingly concentrated, job market. The Location Quotient of 0.83 suggests that while the profession is present, it is slightly less concentrated than the national average, implying a steady but not hyper-competitive demand for skilled individuals in this sector.
Salary Overview
The average Loan Officers in Milwaukee-Waukesha, WI earns+8.7%above the national average.
$45.1
$1,802
$7,808
Loan Officers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Loan Officer salaries in Milwaukee-Waukesha have experienced growth over the past four years, mirroring national trends. Economic shifts, evolving mortgage regulations, and fluctuating interest rates typically drive adjustments in compensation, generally leading to upward mobility for experienced professionals in this field.
Loan Officers Salary Distribution in Milwaukee-Waukesha, WI
Salary progression for Loan Officers in Milwaukee-Waukesha typically scales with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with proven track records and extensive client networks can command salaries in the upper percentiles. The gap between these salary ranges signifies clear opportunities for career advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $50,110 | $24.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $70,275 | $33.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $81,680 | $39.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $117,125 | $56.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $142,870 | $68.7 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$93,700
Gross Pay
Real Wage (Purchasing Power)
$93,700
Adjusted for COL (100)
The average annual salary of $93,700 in Milwaukee-Waukesha aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Loan Officer's salary in this area is equivalent to the national standard, offering a stable financial footing without the premium often associated with higher cost-of-living metropolitan areas.
Job Market Context
1,290
Total Jobs
1.573
Per 1K Jobs
0.83
Location Quotient
Milwaukee-Waukesha, WI has 0.83x 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 0.83 indicates that Loan Officers are slightly less prevalent in Milwaukee-Waukesha compared to the national average. This suggests a market that is neither oversaturated nor critically undersupplied, presenting a balanced environment for job seekers. It implies that while opportunities exist, the competition might be less intense than in regions with a higher concentration of these professionals.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Racine-Mount Pleasant, WI Loan Officers Salary | $86,170↓ 8% | 25 mi |
| Kenosha, WI Loan Officers Salary | $87,450↓ 7% | 33 mi |
| Sheboygan, WI Loan Officers Salary | $87,810↓ 6% | 48 mi |
| Fond du Lac, WI Loan Officers Salary | $87,320↓ 7% | 54 mi |
| Janesville-Beloit, WI Loan Officers Salary | $87,480↓ 7% | 59 mi |
Comparing salaries near Milwaukee-Waukesha, WI
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Milwaukee-Waukesha, WI?
The median annual salary for a Loan Officers in Milwaukee-Waukesha, WI is $93,700. This typically ranges from $50,110 for entry-level positions to $142,870 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Milwaukee-Waukesha, WI is 8.7% higher than the national median of $86,220.
Is Milwaukee-Waukesha, WI a lucrative place for Loan Officers?
Yes, it is a lucrative place for Loan Officers.Loan Officers in Milwaukee-Waukesha earn an average of $93,700 annually, which is higher than the national average. Coupled with a cost of living that matches the national average, this salary offers strong purchasing power.
Is Milwaukee-Waukesha, WI a good place to live for Loan Officers?
The Cost of Living Index in Milwaukee-Waukesha, WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Milwaukee-Waukesha, WI?
Some top paying nearby cities include Racine-Mount Pleasant, WI ($86,170) and Kenosha, WI.
How does the Milwaukee-Waukesha Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Milwaukee-Waukesha is $93,700, which is approximately $7,480 higher than the national average of $86,220.
What is the concentration of Loan Officers in Milwaukee-Waukesha?
The Location Quotient for Loan Officers in Milwaukee-Waukesha is 0.83, indicating that the profession is slightly less concentrated in this area compared to the national average.
How does the cost of living affect the salary in Milwaukee-Waukesha?
With a Cost of Living Index of 100, the national average, the $93,700 salary in Milwaukee-Waukesha offers purchasing power equivalent to the national standard, making it a financially stable location.
What does the number of jobs per 1,000 workers suggest for Loan Officers in Milwaukee-Waukesha?
There are 1.573 jobs per 1,000 workers for Loan Officers in Milwaukee-Waukesha, indicating a moderate presence of the profession within the local labor market.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,290 employees in the Milwaukee-Waukesha, WI area with a job density of 1.573 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 Milwaukee-Waukesha, WI