SalaryNode

Average Loan Officers Salary in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Loan Officers in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metropolitan area earn an average annual salary of $83,500. This figure is slightly below the national average of $86,220, suggesting a nuanced compensation landscape influenced by regional economic factors and the specific demands of the local financial sector. While not reaching the national benchmark, this salary reflects the ongoing need for skilled financial professionals within this significant economic hub.

Executive Summary

  • Average Salary: $83,500 per year.
  • Growth Trend: Salaries have shifted 11.8% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $133,570.
  • Outlook: The local job market for Loan Officers in Philadelphia-Camden-Wilmington appears stable, with a total workforce of 4,830 individuals. The Location Quotient of 0.89 indicates that the concentration of Loan Officers in this area is just shy of the national average, suggesting a healthy but not oversaturated market. With 1.684 jobs per 1,000 workers, the demand is present, offering consistent opportunities for qualified professionals.
2024 Market Data

Salary Overview

$83,500

The average Loan Officers in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD earns-3.2%below the national average.

BreakdownBased on 40h/week
Hourly

$40.2

Weekly

$1,606

Monthly

$6,958

Loan Officers Salary Distribution in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Salary progression for Loan Officers is strongly tied to experience and demonstrated performance. Entry-level positions typically command salaries at the lower end of the pay scale, while seasoned professionals with a proven track record in sales, client management, and regulatory compliance can expect significantly higher earnings. The percentile gaps in salary distribution highlight clear career progression pathways, rewarding expertise and seniority within the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$39,250$18.9
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$62,625$30.1
ManagerOversees team, compliance, and project delivery.50% (Median)$76,910$37
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$104,375$50.2
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$133,570$64.2

Detailed Loan Officers Market Analysis

Relocation Context

Nominal Salary

$83,500

Gross Pay

Real Wage (Purchasing Power)

$83,500

Adjusted for COL (100)

The average annual salary of $83,500 for Loan Officers in Philadelphia-Camden-Wilmington aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Loan Officer's salary in this region is equivalent to the national average, offering a stable financial standing without the premium or discount typically associated with higher or lower cost-of-living areas.

Job Market Context

4,830

Total Jobs

1.684

Per 1K Jobs

0.89

Location Quotient

Below Average

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 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.

With a Location Quotient of 0.89, the Philadelphia-Camden-Wilmington area exhibits a slightly lower concentration of Loan Officers compared to the national average. This suggests a job market that is competitive but not overly saturated, presenting a balanced environment for both employers seeking talent and professionals looking for opportunities. The demand, as indicated by jobs per 1,000 workers, remains steady, implying a reliable market for this role.

Nearby Job Markets

Nearby Cities for Loan Officers

CitySalaryDist.
Trenton-Princeton, NJ Loan Officers Salary$94,960↑ 14%28 mi
Vineland, NJ Loan Officers Salary$90,860↑ 9%35 mi
Allentown-Bethlehem-Easton, PA-NJ Loan Officers Salary$70,820↓ 15%47 mi
Sussex Delaware nonmetropolitan area Loan Officers Salary$90,580↑ 8%47 mi
Reading, PA Loan Officers Salary$76,010↓ 9%48 mi

Comparing salaries near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Hiring Loan Officerss?

Frequently Asked Questions

How much does a Loan Officers make in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?

The median annual salary for a Loan Officers in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is $83,500. This typically ranges from $39,250 for entry-level positions to $133,570 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 3.2% lower than the national median of $86,220.

Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a lucrative place for Loan Officers?

Moderately. While the average salary is slightly below the national average, the cost of living is on par, offering stable purchasing power.The average salary of $83,500 is close to the national average, and with a Cost of Living Index of 100, your earnings will have equivalent purchasing power to the national average.

Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a good place to live for Loan Officers?

The Cost of Living Index in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?

Some top paying nearby cities include Trenton-Princeton, NJ ($94,960) and Vineland, NJ.

How does the Loan Officer salary in Philadelphia compare to the national average?

The average annual salary for Loan Officers in Philadelphia-Camden-Wilmington is $83,500, which is slightly lower than the national average of $86,220.

What is the concentration of Loan Officers in the Philadelphia area compared to the nation?

The Location Quotient for Loan Officers in Philadelphia-Camden-Wilmington is 0.89, indicating a slightly lower concentration than the national average.

How does the cost of living in Philadelphia affect the Loan Officer salary?

The Cost of Living Index in Philadelphia is 100, which is the national average. This means the $83,500 salary has the same purchasing power as the national average salary.

What is the total number of Loan Officers in the Philadelphia-Camden-Wilmington area?

There are approximately 4,830 Loan Officers employed in the Philadelphia-Camden-Wilmington metropolitan area.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,830 employees in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area with a job density of 1.684 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Top Jobs in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD