Business & Finance Covington, KY
Pop. 40,961
Loan Officer Salary in Covington, Kentucky
The median loan officer salary in Covington, KY is $57,851 per year, which is 12% below the national median and 1.1% above the Kentucky state average.
City Median
$57,851
vs State Avg
+$657
vs National
$-7,889
Cost of Living
88%
Loan Officer Salary in Covington by Experience
In Covington, an entry-level loan officer earns around $33,440, while experienced professionals earn up to $114,400 per year. The local cost of living index is 88% of the national average.
Entry Level (0-2 yrs)
$33,440
$-4,560 vs national
Mid Level (3-7 yrs)
$58,080
$-7,920 vs national
Senior Level (8+ yrs)
$114,400
$-15,600 vs national
Salary Percentiles in Covington, KY
| Percentile | Covington |
|---|---|
| 10th Percentile | $30,976 |
| 25th Percentile | $39,952 |
| Median (50th) | $57,851 |
| 75th Percentile | $88,000 |
| 90th Percentile | $135,344 |
Loan Officer Salary in Other Kentucky Cities
How to Become a Loan Officer in Covington
Education
Most loan officer positions require a bachelor's degree. Covington and the surrounding Kentucky area have institutions offering relevant programs.
Key Skills
Credit AnalysisMortgage LendingCustomer ServiceRegulatory ComplianceSalesFinancial Software
Job Outlook
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Demand in Covington may vary based on local industry and population growth.