Average Loan Officers Salary in Sumter, SC
The average salary for Loan Officerss in Sumter, SC is $61,920. While this is lower than the national average, the cost of living in Sumter, SC may offset the difference, preserving real purchasing power.
Executive Summary
- Average Salary: $61,920 per year.
- Growth Trend: Salaries have shifted 13.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $83,690.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 40 professionals. This role remains a specialized component of the broader Sumter, SC economy.
Salary Overview
The average Loan Officers in Sumter, SC earns-28.2%below the national average.
$29.8
$1,191
$5,160
Loan Officers Salary Trends (2020-2024)
Over the past 4 years, Loan Officers salaries in Sumter, SC have shown healthy growth of 13.8%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Sumter, SC
The earning potential for Loan Officerss in Sumter, SC varies significantly by experience level. The salary gap is relatively narrow, suggesting consistent and predictable earnings from entry-level to senior positions. Entry-level roles (10th percentile) typically start around $40,050, while highly experienced professionals can command wages upwards of $83,690.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $40,050 | $19.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $46,440 | $22.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $56,980 | $27.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $77,400 | $37.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $83,690 | $40.2 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$61,920
Gross Pay
Real Wage (Purchasing Power)
$61,920
Adjusted for COL (100)
In Sumter, SC, the Cost of Living Index is 100. This increases your effective purchasing power from $61,920 to $61,920.
Job Market Context
40
Total Jobs
1.191
Per 1K Jobs
0.63
Location Quotient
Sumter, SC has 0.63x 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.
40 people work as Loan Officers in Sumter, SC.
1.191 out of every 1,000 local jobs are Loan Officers positions — a typical concentration.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Columbia, SC Loan Officers Salary | $76,480↑ 24% | 30 mi |
| Northwestern South Carolina nonmetropolitan area Loan Officers Salary | $69,830↑ 13% | 32 mi |
| Northeastern South Carolina nonmetropolitan area Loan Officers Salary | $63,810↑ 3% | 32 mi |
| Southern South Carolina nonmetropolitan area Loan Officers Salary | $63,140↑ 2% | 32 mi |
| Florence, SC Loan Officers Salary | $69,740↑ 13% | 38 mi |
Comparing salaries near Sumter, SC
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Sumter, SC?
The median annual salary for a Loan Officers in Sumter, SC is $61,920. This typically ranges from $40,050 for entry-level positions to $83,690 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Sumter, SC is 28.2% lower than the national median of $86,220.
Is Sumter, SC a good place for Loan Officerss?
It depends on your priorities. While the average Loan Officers salary in Sumter, SC is $61,920 (below the national average), the area may offer a lower cost of living or other lifestyle benefits typical of Sumter, SC. See distinct detailed breakdown below.
Is Sumter, SC a good place to live for Loan Officers?
The Cost of Living Index in Sumter, SC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Sumter, SC?
Some top paying nearby cities include Columbia, SC ($76,480) and Northwestern South Carolina nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 40 employees in the Sumter, SC area with a job density of 1.191 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 Sumter, SC