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Average Loan Officers Salary in St. Louis, MO-IL

Loan Officers in St. Louis, MO-IL earn an average annual salary of $80,420, which is slightly below the national average of $86,220. This localized difference can be attributed to a variety of factors, including regional economic conditions, the specific demand for mortgage and financial services within the metropolitan area, and the competitive landscape for these roles.

Executive Summary

  • Average Salary: $80,420 per year.
  • Growth Trend: Salaries have shifted 9.0% ↘ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $132,580.
  • Outlook: The St. Louis, MO-IL market supports a robust workforce of 2,820 Loan Officers, indicating a significant presence in the financial sector. With a Location Quotient of 1.12, the concentration of these professionals is slightly higher than the national average, suggesting a healthy demand and a stable job market for skilled Loan Officers in the region.
2024 Market Data

Salary Overview

$80,420

The average Loan Officers in St. Louis, MO-IL earns-6.7%below the national average.

BreakdownBased on 40h/week
Hourly

$38.7

Weekly

$1,547

Monthly

$6,702

Loan Officers Salary Distribution in St. Louis, MO-IL

Career progression for Loan Officers in St. Louis, MO-IL typically sees a significant salary increase with experience. Entry-level positions might start around the lower percentiles, while seasoned professionals with extensive client networks and a proven track record can command salaries well into the upper percentiles, reflecting their value and expertise.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$35,360$17
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$60,315$29
ManagerOversees team, compliance, and project delivery.50% (Median)$70,730$34
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$100,525$48.3
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$132,580$63.7

Detailed Loan Officers Market Analysis

Relocation Context

Nominal Salary

$80,420

Gross Pay

Real Wage (Purchasing Power)

$80,420

Adjusted for COL (100)

The average annual salary of $80,420 in St. Louis, MO-IL 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 St. Louis is comparable to the national standard, offering a stable financial environment for residents.

Job Market Context

2,820

Total Jobs

2.107

Per 1K Jobs

1.12

Location Quotient

Above Average

With a location quotient of 1.12, St. Louis, MO-IL has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.

A Location Quotient of 1.12 indicates that St. Louis, MO-IL has a slightly higher concentration of Loan Officers compared to the national average. This suggests a competitive yet accessible job market, where opportunities exist, but professionals may need to differentiate themselves to secure top positions.

Nearby Job Markets

Nearby Cities for Loan Officers

CitySalaryDist.
Springfield, IL Loan Officers Salary$80,890↑ 1%84 mi
Cape Girardeau, MO-IL Loan Officers Salary$76,060↓ 5%97 mi

Comparing salaries near St. Louis, MO-IL

Hiring Loan Officerss?

Frequently Asked Questions

How much does a Loan Officers make in St. Louis, MO-IL?

The median annual salary for a Loan Officers in St. Louis, MO-IL is $80,420. This typically ranges from $35,360 for entry-level positions to $132,580 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in St. Louis, MO-IL is 6.7% lower than the national median of $86,220.

Is St. Louis, MO-IL a lucrative place for Loan Officers?

Yes, with caveats.While the average salary is slightly below the national average, the cost of living is also at the national average, making the nominal salary hold its value. The slightly higher concentration of Loan Officers suggests a healthy market.

Is St. Louis, MO-IL a good place to live for Loan Officers?

The Cost of Living Index in St. Louis, MO-IL is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near St. Louis, MO-IL?

Some top paying nearby cities include Springfield, IL ($80,890) and Cape Girardeau, MO-IL.

How does the St. Louis Loan Officer salary compare to the national average?

The average annual salary for Loan Officers in St. Louis, MO-IL is $80,420, which is approximately $5,800 less than the national average of $86,220.

What is the job concentration for Loan Officers in St. Louis?

St. Louis, MO-IL has a Location Quotient of 1.12 for Loan Officers, indicating a slightly higher concentration of these professionals compared to the national average.

How does the cost of living in St. Louis affect the Loan Officer salary?

With a Cost of Living Index of 100, St. Louis is at the national average. This means the $80,420 salary has purchasing power equivalent to the national average, making it a fair compensation relative to expenses.

What is the total number of Loan Officers in St. Louis?

There are approximately 2,820 Loan Officers employed in the St. Louis, MO-IL 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 2,820 employees in the St. Louis, MO-IL area with a job density of 2.107 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Loan Officers • Data source: BLS OEWS 2024 •Jobs in St. Louis, MO-IL