Average Loan Officers Salary in Morristown, TN
The average salary for Loan Officerss in Morristown, TN is $60,610. While this is lower than the national average, the cost of living in Morristown, TN may offset the difference, preserving real purchasing power.
Executive Summary
- Average Salary: $60,610 per year.
- Growth Trend: Salaries have shifted 5.9% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $101,590.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 70 professionals. This role remains a specialized component of the broader Morristown, TN economy.
Salary Overview
The average Loan Officers in Morristown, TN earns-29.7%below the national average.
$29.1
$1,166
$5,051
Loan Officers Salary Trends (2020-2024)
Over the past 3 years, Loan Officers salaries in Morristown, TN have seen a slight adjustment of -5.9%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Morristown, TN
The earning potential for Loan Officerss in Morristown, TN varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 2.9x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $35,530, while highly experienced professionals can command wages upwards of $101,590.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,530 | $17.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $45,458 | $21.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $58,830 | $28.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $75,763 | $36.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $101,590 | $48.8 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$60,610
Gross Pay
Real Wage (Purchasing Power)
$60,610
Adjusted for COL (100)
In Morristown, TN, the Cost of Living Index is 100. This increases your effective purchasing power from $60,610 to $60,610.
Job Market Context
70
Total Jobs
1.53
Per 1K Jobs
0.81
Location Quotient
Morristown, TN has 0.81x 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.
70 people work as Loan Officers in Morristown, TN.
1.53 out of every 1,000 local jobs are Loan Officers positions — a typical concentration.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Knoxville, TN Loan Officers Salary | $71,820↑ 18% | 40 mi |
| Kingsport-Bristol, TN-VA Loan Officers Salary | $65,030↑ 7% | 47 mi |
| Johnson City, TN Loan Officers Salary | $77,920↑ 29% | 52 mi |
| Asheville, NC Loan Officers Salary | $88,950↑ 47% | 61 mi |
Comparing salaries near Morristown, TN
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Morristown, TN?
The median annual salary for a Loan Officers in Morristown, TN is $60,610. This typically ranges from $35,530 for entry-level positions to $101,590 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Morristown, TN is 29.7% lower than the national median of $86,220.
Is Morristown, TN a good place for Loan Officerss?
It depends on your priorities. While the average Loan Officers salary in Morristown, TN is $60,610 (below the national average), the area may offer a lower cost of living or other lifestyle benefits typical of Morristown, TN. See distinct detailed breakdown below.
Is Morristown, TN a good place to live for Loan Officers?
The Cost of Living Index in Morristown, TN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Morristown, TN?
Some top paying nearby cities include Knoxville, TN ($71,820) and Kingsport-Bristol, TN-VA.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 70 employees in the Morristown, TN area with a job density of 1.53 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 Morristown, TN