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SomerCor 504 Inc Salary

SomerCor 504 Inc Salary

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As of September 2026, the average annual salary for employees at SomerCor 504 Inc in the United States is $93,645. This translates to an approximate hourly wage of $45. Salaries at SomerCor 504 Inc typically range from $82,133 to $106,111 annually, reflecting the diverse roles and experience levels within the company.
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Is SomerCor 504 Inc’s Pay Competitive? Salary Benchmarking Analysis

How does SomerCor 504 Inc's compensation stack up against the industry and its key competitors? Our salary benchmarking analysis provides a clear comparison. The chart below visualizes this comparison alongside select peer companies.
Competitor / Benchmark Avg. Salary Variance Primary Market Influence Factor & Explanation
OwnersChoice $90,860
-3.0%
Confirms OwnersChoice is a direct competitor vying for the exact same talent pool.
Advantage Home Plus $99,330
+6.1%
Influenced by prevailing union wage agreements specific to Advantage Home Plus's sector.
Petrocaribe Inc $107,938
+15.3%
Data suggests Petrocaribe Inc's workforce skews heavily towards veteran, high-tenure roles.
Rocket Loans $90,048
-3.8%
Typical compensation structure for smaller regional agencies like Rocket Loans.
Financial Services Industry $121,514
+29.8%
Pay variances are driven by organizational scale, specialized skill requirements, or geographic cost-of-living factors.
Need More Granular Data? The analysis above provides a high-level market overview. To benchmark specific job codes, adjust for real-time cost-of-living changes, or access verified HR-reported datasets, upgrade to Salary.com for Business. Precision matters when building your compensation strategy.

How SomerCor 504 Inc's Salaries Compare to Similar Companies?

Explore companies in the same industry to compare average salaries, benefits, and career opportunities with those at SomerCor 504 Inc. Click a company name to learn more.

Employee Reviews: Working at SomerCor 504 Inc

Considering a career at SomerCor 504 Inc? Explore authentic employee reviews to learn about the work environment, career growth opportunities, pay transparency and benefits. These first-hand insights can help you set realistic compensation expectations and make informed career decisions.
Supportive work culture and tools. The support from leadership is strong, and company policies reflect values like fairness, inclusion, and innovation. The ethics hotline ensures accountability without fear of retaliation. Leadership tends to follow traditional approaches, decision-making. I’ve grown both personally and professionally here, and I highly recommend it to anyone seeking a rewarding c...
Commented in May 21, 2025
39
0
The leadership team at this financial institution is truly inspiring. Project completions are acknowledged. Training is offered it is well organized.
Commented in April 16, 2025
50
2
Working here has been rewarding due to strong support and frequent recognition. Buddies provide peer support beyond HR training. Meetings are functional, rarely creative. Workload is manageable, yet some roles lack challenge. Reverse mentoring keeps leaders learning.
Commented in August 27, 2024
14
3

SomerCor 504 Inc Overview

Website
www.somercor.com
Founded In
1992
Employees
<25 employees
Industry
Financial Services
Headquarter Address
601 S La Salle St Chicago Illinois IL 60605
Revenue
$5 Million - $10 Million
Phone Number
+1 3123603300
Social Media
About SomerCor 504 Inc
SomerCor is a non-profit lender, certified by the Small Business Administration, that specializes in originating and servicing SBA 504 loans. Since its founding in 1992, SomerCor has funded over 2300 loans with a total volume of $1.44 billion. SomerCor also administers the Small Business Improvement Fund (SBIF) and Neighborhood Opportunity Fund (NOF) grants for the city of Chicago. Based in Chicag

What Benefits Does SomerCor 504 Inc Offer Beyond Salary?

A competitive compensation package is more than just a salary. SomerCor 504 Inc offers a comprehensive benefits package designed to support your health, financial future, and overall well-being. Below are the most common key benefits:
Social Security
401(K)
Disability
Healthcare
Pension
Time Off (days)
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What Is the Cost of Living Near Chicago?

Understanding the cost of living near Chicago is key to truly evaluating a salary offer or your current compensation at SomerCor 504 Inc.
Chicago's Cost of Living Index is approximately 106.9 (6.9% more expensive than US average; 14.0% more than IL average). Major US city, housing varies greatly by neighborhood but can be high, extensive CTA transit. When planning your budget based on a salary from SomerCor 504 Inc, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,700 - $2,600+ A significant portion of SomerCor 504 Inc salary. Location choices impact this heavily.
Utilities (Basic) $140 - $230 Electricity, Heating, Cooling, Water etc.
Public Transportation $105 (CTA 30-day pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $430 - $640 Can be higher with more dining out or specialty stores.
Personal & Leisure $450 - $800+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $400 - $750+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $3,225 - $5,025+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of SomerCor 504 Inc

1. How much does a SomerCor 504 Inc employee make?

SomerCor 504 Inc pays its employees an average of $93,645 per year. The average salary at SomerCor 504 Inc range from $82,133 to $106,111 per year. It's important to remember that these are overall averages, actual salaries vary significantly based on specific job titles, years of experience, skills, and location.

2. Which similar company tend to pay more or less than SomerCor 504 Inc?

The salary at SomerCor 504 Inc is higher than the similar company. The average annual salary at SomerCor 504 Inc is $93,645, or an hourly wage of $45, in comparison to OwnersChoice which pays $90,860 per year or $44 per hour.

3. How much does a President & Chief Executive Officer typically earn at SomerCor 504 Inc?

A President & Chief Executive Officer at SomerCor 504 Inc typically earns an average annual base salary of around $724,896, with a general range of $553,164 to $915,494.

4. Do employees with advanced degrees (Master's, PhD) earn more at SomerCor 504 Inc?

In many roles at SomerCor 504 Inc, particularly those requiring specialized knowledge or research capabilities (e.g., certain engineering, scientific, or financial roles), an advanced degree like a Master's or PhD can lead to a higher starting salary and faster career progression, thus higher earnings. However, for some roles, direct experience and skills might be valued as much or more than an advanced degree. The impact varies by field and specific job requirements.

5. How does the cost of living near Chicago affect the perceived value of a SomerCor 504 Inc salary?

Chicago's Cost of Living Index is approximately 106.9 (6.9% more expensive than US average; 14.0% more than IL average). This significantly impacts the purchasing power of a salary from SomerCor 504 Inc based there. Our "Cost of Living Insights for Chicago" module details this impact, helping you assess the 'real feel' value of your compensation.

6. What kind of benefits does SomerCor 504 Inc typically offer employees?

SomerCor 504 Inc generally offers a range of employee benefits designed to support their workforce's health, financial well-being, and work-life balance. Comprehensive health insurance (medical, dental, vision), a 401(k) retirement savings plan (often with a company match), paid time off (PTO), and potentially disability and life insurance are included. For a more detailed list of benefits, please see our "Employee Benefits at SomerCor 504 Inc" section on this page.

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