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Average Loan Officers Salary in Wichita, KS

Loan Officers in Wichita, KS, earn an impressive average annual salary of $99,490, significantly surpassing the national average of $86,220. This elevated compensation in Wichita is often driven by a combination of local economic factors and a stable, albeit specific, demand for financial services professionals within the region.

Executive Summary

  • Average Salary: $99,490 per year.
  • Growth Trend: Salaries have shifted 22.5% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $171,150.
  • Outlook: With a local workforce of 600 Loan Officers and a Location Quotient of 1.04, Wichita presents a stable job market for this profession. The LQ slightly above the national average suggests a concentration of these roles, indicating consistent demand and employment opportunities that align with the national trend but with a localized emphasis.
2024 Market Data

Salary Overview

$99,490

The average Loan Officers in Wichita, KS earns+15.4%above the national average.

BreakdownBased on 40h/week
Hourly

$47.8

Weekly

$1,913

Monthly

$8,291

Loan Officers Salary Distribution in Wichita, KS

The salary spectrum for Loan Officers in Wichita, KS, typically ranges from entry-level positions to senior roles, with significant pay increases correlating with experience. Junior Loan Officers might start in the lower percentiles, while seasoned professionals with proven track records and extensive client networks can command salaries in the upper percentiles, reflecting their value and expertise.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$45,880$22.1
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$74,618$35.9
ManagerOversees team, compliance, and project delivery.50% (Median)$86,940$41.8
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$124,363$59.8
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$171,150$82.3

Detailed Loan Officers Market Analysis

Relocation Context

Nominal Salary

$99,490

Gross Pay

Real Wage (Purchasing Power)

$99,490

Adjusted for COL (100)

A nominal salary of $99,490 in Wichita, KS, is particularly advantageous given the local Cost of Living Index stands precisely at the national average of 100. This means that the purchasing power of a Loan Officer's salary in Wichita is equivalent to the national standard, allowing for a comfortable lifestyle without the premium often associated with higher cost-of-living areas.

Job Market Context

600

Total Jobs

1.958

Per 1K Jobs

1.04

Location Quotient

Above Average

With a location quotient of 1.04, Wichita, KS has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.

The Location Quotient of 1.04 for Loan Officers in Wichita indicates a job market that is slightly more concentrated than the national average. This suggests that while the profession is well-represented, the demand is consistent and potentially growing, offering a competitive yet accessible environment for both new entrants and established professionals in the field.

Nearby Job Markets

Nearby Cities for Loan Officers

CitySalaryDist.
Kansas nonmetropolitan area Loan Officers Salary$88,980↓ 11%67 mi
Enid, OK Loan Officers Salary$91,340↓ 8%93 mi

Comparing salaries near Wichita, KS

Hiring Loan Officerss?

Frequently Asked Questions

How much does a Loan Officers make in Wichita, KS?

The median annual salary for a Loan Officers in Wichita, KS is $99,490. This typically ranges from $45,880 for entry-level positions to $171,150 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Wichita, KS is 15.4% higher than the national median of $86,220.

Is Wichita, KS a lucrative place for Loan Officers?

Yes, Wichita, KS is a lucrative place for Loan Officers.Loan Officers in Wichita earn approximately 15% more than the national average, and with a cost of living at the national average, their earnings offer strong purchasing power.

Is Wichita, KS a good place to live for Loan Officers?

The Cost of Living Index in Wichita, KS is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Wichita, KS?

Some top paying nearby cities include Kansas nonmetropolitan area ($88,980) and Enid, OK.

How does Wichita's Loan Officer salary compare to the national average?

Loan Officers in Wichita, KS, earn an average annual salary of $99,490, which is notably higher than the national average of $86,220.

What is the concentration of Loan Officers in Wichita, KS?

Wichita has a concentration of Loan Officers slightly above the national average, indicated by a Location Quotient of 1.04, suggesting a healthy presence of this profession.

Does the cost of living affect the value of a Loan Officer's salary in Wichita?

No, the cost of living in Wichita is at the national average (100), meaning the higher nominal salary of $99,490 translates directly to strong purchasing power for Loan Officers.

How many Loan Officers are employed in Wichita, KS?

There are approximately 600 Loan Officers employed in Wichita, KS, contributing to a stable local job market for this financial role.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 600 employees in the Wichita, KS area with a job density of 1.958 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 Wichita, KS