Loan Officer Salary in Cleveland, OH ()
Updated 70 days ago · 58 observed active listings
The loan officer salary market in Cleveland, OH, reflects a blend of high demand and variable salary distribution, with an average salary of $94,958. The presence of 58 open positions indicates strong employer interest, particularly from major financial institutions like Citizens and KeyBank. Despite the average salary being robust, the distribution shows significant pressure at higher salary bands, with numerous positions offering $100,000 and above. This creates a dynamic where experienced professionals may experience accelerated career progression, while entry-level positions could face prolonged advancement timelines. However, the lack of percentile breakdown data limits confidence in specific salary ranges, suggesting caution when interpreting the salary landscape.
Salary Distribution
Key Insights
- The average salary of $94,958 is primarily driven by high demand, with 58 open positions indicating a competitive hiring environment.
- There are 749 positions offering $140,000, highlighting a strong market for experienced loan officers that can drive up salary expectations.
- The concentration of active employers, including major banks and mortgage firms, intensifies competition for talent, leading to better compensation packages.
- Entry-level and mid-level salaries are more spread out, with 353 positions around $40,000, which may slow career progression for newer professionals.
- The absence of detailed percentile data on salaries introduces uncertainty in salary negotiations, suggesting that candidates should leverage market demand when discussing compensation.
Current Loan Officer Jobs in Cleveland
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Mutual of Omaha Mortgage · Independence, Cuyahoga County$48,000 – $250,000
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Dollar Bank · Cleveland, Cuyahoga County$170,000 – $220,000
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Secure Lending Inc. · Cleveland, Cuyahoga County$171,317 – $202,864
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Mutual of Omaha Mortgage · Independence, Cuyahoga County$50,000 – $200,000
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Citizens · Newburgh Heights, Cuyahoga County$152,998 – $152,998
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Fifth Third Bank, N.A. · Newburgh Heights, Cuyahoga County$144,302 – $144,302
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Fifth Third Bank, N.A. · Newburgh Heights, Cuyahoga County$129,021 – $129,021
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Kitchen Saver · Cleveland, Cuyahoga County$111,781 – $111,781
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Fifth Third Bank, N.A. · Newburgh Heights, Cuyahoga County$105,805 – $105,805
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KeyBank · Brooklyn, Cuyahoga County$68,993 – $104,998
Frequently Asked Questions
What is the average Loan Officer salary in Cleveland, OH?
The average Loan Officer salary in Cleveland, OH is $94,958 per year, with a range from $20,000 to $150,000.
How many Loan Officer jobs are available in Cleveland?
There are currently 58 open Loan Officer positions in Cleveland, OH.
What factors affect Loan Officer salaries in Cleveland?
Loan Officer salaries in Cleveland vary based on experience level, company size, industry sector, certifications, and demand. Cost of living in Cleveland also plays a significant role in compensation levels.
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Career Intelligence — Loan Officer in Cleveland
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