Average Loan Officers Salary in Southeast Oklahoma nonmetropolitan area
Loan Officers in the Southeast Oklahoma nonmetropolitan area earn an average annual salary of $79,700. This figure is notably below the national average of $86,220, reflecting the economic dynamics and specific demand within this region. Factors such as local industry concentration and the overall economic output of nonmetropolitan areas often influence compensation levels for specialized roles like loan origination.
Executive Summary
- Average Salary: $79,700 per year.
- Growth Trend: Salaries have shifted 33.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $128,490.
- Outlook: With a local workforce of 610 Loan Officers, the job market in Southeast Oklahoma's nonmetropolitan area presents a concentrated demand for these professionals. The Location Quotient of 1.75 significantly exceeds the national average, indicating a higher concentration of these roles relative to the general workforce in this specific region. This suggests a robust local market where Loan Officers are a key component of the financial services sector.
Salary Overview
The average Loan Officers in Southeast Oklahoma nonmetropolitan area earns-7.6%below the national average.
$38.3
$1,533
$6,642
Loan Officers Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it is reasonable to assume that salaries for Loan Officers in Southeast Oklahoma have experienced growth over the past four years, mirroring national trends. Economic recovery, shifts in lending practices, and inflation typically drive incremental increases in compensation for financial professionals, ensuring that earning potential keeps pace with evolving market conditions.
Loan Officers Salary Distribution in Southeast Oklahoma nonmetropolitan area
Career progression for Loan Officers typically involves a significant salary increase with experience. Entry-level positions might start at a lower percentile, while seasoned professionals with extensive experience and a proven track record can command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies substantial career growth opportunities and increased earning potential as expertise and client portfolios develop.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $34,530 | $16.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $59,775 | $28.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $62,320 | $30 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $99,625 | $47.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $128,490 | $61.8 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$79,700
Gross Pay
Real Wage (Purchasing Power)
$79,700
Adjusted for COL (100)
The nominal average salary of $79,700 for Loan Officers in Southeast Oklahoma's nonmetropolitan area 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 that of a Loan Officer earning the national average salary in a location with a national average cost of living. Consequently, the salary offers a stable financial standing relative to local expenses.
Job Market Context
610
Total Jobs
3.29
Per 1K Jobs
1.75
Location Quotient
Southeast Oklahoma nonmetropolitan area has 1.8x the national concentration of Loan Officers jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
The Location Quotient of 1.75 for Loan Officers in Southeast Oklahoma's nonmetropolitan area signifies a market where these professionals are more concentrated than the national average. This suggests a potentially competitive environment for new entrants but also indicates a strong demand and established presence of the lending industry within the region. Employers may find it easier to recruit experienced talent due to the higher concentration, while professionals benefit from a market that values their specialized skills.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Oklahoma City, OK Loan Officers Salary | $78,180↓ 2% | 34 mi |
| Tulsa, OK Loan Officers Salary | $86,980↑ 9% | 69 mi |
| Enid, OK Loan Officers Salary | $91,340↑ 15% | 78 mi |
Comparing salaries near Southeast Oklahoma nonmetropolitan area
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Southeast Oklahoma nonmetropolitan area?
The median annual salary for a Loan Officers in Southeast Oklahoma nonmetropolitan area is $79,700. This typically ranges from $34,530 for entry-level positions to $128,490 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southeast Oklahoma nonmetropolitan area is 7.6% lower than the national median of $86,220.
Is Southeast Oklahoma nonmetropolitan area a lucrative place for Loan Officers?
Yes, with a caveat regarding national averages.While the average salary of $79,700 is below the national average, the strong Location Quotient of 1.75 indicates high local demand and concentration. Coupled with a cost of living at the national average, the salary offers good purchasing power within the region.
Is Southeast Oklahoma nonmetropolitan area a good place to live for Loan Officers?
The Cost of Living Index in Southeast Oklahoma nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southeast Oklahoma nonmetropolitan area?
Some top paying nearby cities include Oklahoma City, OK ($78,180) and Tulsa, OK.
How does the local salary compare to the national average?
The average annual salary for Loan Officers in Southeast Oklahoma's nonmetropolitan area is $79,700, which is $6,520 less than the national average of $86,220.
What is the concentration of Loan Officers in this area?
The Location Quotient is 1.75, meaning Loan Officers are 75% more concentrated in this region compared to the national average, indicating a significant local presence of the profession.
How does the cost of living affect the salary's value?
With a Cost of Living Index of 100, the local salary of $79,700 has the same purchasing power as the national average salary in a national average cost of living area.
What does the total workforce size suggest?
A total local workforce of 610 Loan Officers suggests a stable, albeit not massive, job market with consistent demand for these financial professionals in the region.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 610 employees in the Southeast Oklahoma nonmetropolitan area area with a job density of 3.29 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 Southeast Oklahoma nonmetropolitan area