Average Loan Officers Salary in Oklahoma City, OK
Loan Officers in Oklahoma City, OK, earn an average annual salary of $78,180. This figure is notably below the national average of $86,220, suggesting that local market dynamics, such as demand and the cost of doing business, play a significant role in compensation levels within the state's capital.
Executive Summary
- Average Salary: $78,180 per year.
- Growth Trend: Salaries have shifted 3.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $150,030.
- Outlook: With a local workforce of 1,710 Loan Officers, Oklahoma City presents a substantial pool of professionals in this field. The Location Quotient of 1.35 indicates a higher concentration of these roles compared to the national average, suggesting a robust and potentially growing demand for skilled Loan Officers within the region.
Salary Overview
The average Loan Officers in Oklahoma City, OK earns-9.3%below the national average.
$37.6
$1,503
$6,515
Loan Officers Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that Loan Officer salaries in Oklahoma City have experienced growth over the past four years, mirroring national trends. Factors such as evolving economic conditions, interest rate fluctuations, and increased demand for housing and financial services likely contribute to upward salary adjustments.
Loan Officers Salary Distribution in Oklahoma City, OK
The salary progression for Loan Officers in Oklahoma City typically scales with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with a proven track record and extensive client networks can command salaries in the higher percentiles, reflecting their increased value and expertise. These percentile gaps are key indicators of career advancement opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,720 | $17.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,635 | $28.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $63,890 | $30.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $97,725 | $47 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $150,030 | $72.1 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$78,180
Gross Pay
Real Wage (Purchasing Power)
$78,180
Adjusted for COL (100)
The average annual salary of $78,180 for Loan Officers in Oklahoma City 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 Oklahoma City is equivalent to the national average, offering stability and predictability for financial planning.
Job Market Context
1,710
Total Jobs
2.551
Per 1K Jobs
1.35
Location Quotient
With a location quotient of 1.35, Oklahoma City, OK has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
Oklahoma City's Location Quotient of 1.35 signifies a stronger presence of Loan Officers relative to the national average. This suggests that the job market in Oklahoma City is more concentrated with these professionals, potentially indicating a competitive environment for new entrants but also a healthy demand from employers seeking specialized talent.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Southeast Oklahoma nonmetropolitan area Loan Officers Salary | $79,700↑ 2% | 34 mi |
| Northeast Oklahoma nonmetropolitan area Loan Officers Salary | $78,870↑ 1% | 34 mi |
| Southwest Oklahoma nonmetropolitan area Loan Officers Salary | $91,400↑ 17% | 34 mi |
| Northwest Oklahoma nonmetropolitan area Loan Officers Salary | $79,040↑ 1% | 34 mi |
| Enid, OK Loan Officers Salary | $91,340↑ 17% | 68 mi |
Comparing salaries near Oklahoma City, OK
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Oklahoma City, OK?
The median annual salary for a Loan Officers in Oklahoma City, OK is $78,180. This typically ranges from $36,720 for entry-level positions to $150,030 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Oklahoma City, OK is 9.3% lower than the national median of $86,220.
Is Oklahoma City, OK a lucrative place for Loan Officers?
Yes, with caveats.While the average salary is below the national average, the cost of living is also at the national average, maintaining purchasing power. The higher concentration of roles (LQ 1.35) suggests strong local demand.
Is Oklahoma City, OK a good place to live for Loan Officers?
The Cost of Living Index in Oklahoma City, OK is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Oklahoma City, OK?
Some top paying nearby cities include Southeast Oklahoma nonmetropolitan area ($79,700) and Northeast Oklahoma nonmetropolitan area.
How does the Oklahoma City Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Oklahoma City is $78,180, which is approximately $8,000 less than the national average of $86,220.
What is the significance of the Location Quotient (LQ) for Loan Officers in Oklahoma City?
An LQ of 1.35 means that Loan Officers are 35% more concentrated in Oklahoma City than the national average, indicating a higher prevalence and potentially stronger local demand for these professionals.
How does the cost of living in Oklahoma City affect a Loan Officer's salary?
With a Cost of Living Index of 100, Oklahoma City's cost of living is exactly the national average. This means the $78,180 salary has purchasing power equivalent to the national average, making it relatively stable.
What does the total local workforce size imply for Loan Officers in Oklahoma City?
A workforce of 1,710 Loan Officers suggests a significant and established market for these professionals, offering a good number of opportunities for both new and experienced individuals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,710 employees in the Oklahoma City, OK area with a job density of 2.551 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 Oklahoma City, OK