Average Loan Officers Salary in Raleigh-Cary, NC
Loan Officers in Raleigh-Cary, NC, command an average annual salary of $81,770. This figure is slightly below the national average of $86,220, suggesting localized market dynamics and demand play a significant role in compensation within this North Carolina metropolitan area.
Executive Summary
- Average Salary: $81,770 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $129,890.
- Outlook: The Raleigh-Cary market demonstrates a healthy concentration of Loan Officer roles, indicated by a Location Quotient of 1.27, which is above the national average. With a local workforce of 1,730 professionals in this field, the demand appears robust and slightly more pronounced than in other regions across the country.
Salary Overview
The average Loan Officers in Raleigh-Cary, NC earns-5.2%below the national average.
$39.3
$1,573
$6,814
Loan Officers Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that Loan Officer salaries in Raleigh-Cary have experienced steady growth over the past four years, mirroring national trends. Factors such as evolving mortgage regulations, interest rate fluctuations, and the overall economic health of the region likely contribute to this upward trajectory in compensation.
Loan Officers Salary Distribution in Raleigh-Cary, NC
Career progression for Loan Officers in Raleigh-Cary typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with proven track records and specialized skills can command salaries well into the upper percentiles, reflecting a clear path for advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $44,500 | $21.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $61,328 | $29.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $64,540 | $31 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $102,213 | $49.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $129,890 | $62.4 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$81,770
Gross Pay
Real Wage (Purchasing Power)
$81,770
Adjusted for COL (100)
The average nominal salary of $81,770 in Raleigh-Cary aligns perfectly with the local Cost of Living Index of 100. This means that the purchasing power of a Loan Officer's salary in this area is equivalent to the national average, offering a stable financial environment without the premium often associated with higher cost-of-living cities.
Job Market Context
1,730
Total Jobs
2.388
Per 1K Jobs
1.27
Location Quotient
With a location quotient of 1.27, Raleigh-Cary, NC has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
A Location Quotient of 1.27 signifies that Loan Officers are more concentrated in Raleigh-Cary than the national average. This suggests a competitive yet potentially abundant job market, where employers may find a good pool of talent, while professionals can leverage the slightly higher demand for their services.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Durham-Chapel Hill, NC Loan Officers Salary | $87,850↑ 7% | 18 mi |
| Rocky Mount, NC Loan Officers Salary | $71,360↓ 13% | 48 mi |
| Goldsboro, NC Loan Officers Salary | $87,840↑ 7% | 49 mi |
| Burlington, NC Loan Officers Salary | $55,290↓ 32% | 49 mi |
| Fayetteville, NC Loan Officers Salary | $81,940↑ 0% | 55 mi |
Comparing salaries near Raleigh-Cary, NC
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Raleigh-Cary, NC?
The median annual salary for a Loan Officers in Raleigh-Cary, NC is $81,770. This typically ranges from $44,500 for entry-level positions to $129,890 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Raleigh-Cary, NC is 5.2% lower than the national median of $86,220.
Is Raleigh-Cary, NC a lucrative place for Loan Officers?
Yes, with caveats.Loan Officers in Raleigh-Cary earn close to the national average salary, and the cost of living is exactly at the national average, making it a financially stable location. The job market also shows a higher concentration of these roles than the national average.
Is Raleigh-Cary, NC a good place to live for Loan Officers?
The Cost of Living Index in Raleigh-Cary, NC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Raleigh-Cary, NC?
Some top paying nearby cities include Durham-Chapel Hill, NC ($87,850) and Rocky Mount, NC.
How does the Raleigh-Cary Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Raleigh-Cary is $81,770, which is slightly lower than the national average of $86,220.
What is the significance of the Location Quotient in Raleigh-Cary for Loan Officers?
A Location Quotient of 1.27 indicates that Loan Officers are more prevalent in Raleigh-Cary compared to the national average, suggesting a stronger local demand or a higher concentration of industry professionals.
Does the cost of living affect the purchasing power of a Loan Officer's salary in Raleigh-Cary?
No, the cost of living in Raleigh-Cary is exactly at the national average (index of 100), meaning the $81,770 salary offers purchasing power equivalent to the national average.
How many Loan Officers are employed in the Raleigh-Cary area?
There are approximately 1,730 Loan Officers employed within the Raleigh-Cary 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 1,730 employees in the Raleigh-Cary, NC area with a job density of 2.388 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 Raleigh-Cary, NC