Average Loan Interviewers and Clerks Salary in Montgomery, AL
In Montgomery, AL, Loan Interviewers and Clerks earn an average annual salary of $43,870. This figure is notably below the national average of $51,050, suggesting that local market dynamics and potentially lower regional demand influence compensation. The specific economic landscape of Montgomery dictates this pay scale for financial service support roles.
Executive Summary
- Average Salary: $43,870 per year.
- Growth Trend: Salaries have shifted 29.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $53,380.
- Outlook: The local job market for Loan Interviewers and Clerks in Montgomery, AL, shows a moderate level of concentration, indicated by a Location Quotient of 1.3, which is above the national average. With a total local workforce of 240 individuals in this role, the demand appears stable, suggesting a consistent need for these professionals within the Montgomery area.
Salary Overview
The average Loan Interviewers and Clerks in Montgomery, AL earns-14.1%below the national average.
$21.1
$844
$3,656
Loan Interviewers and Clerks Salary Trends (2020-2024)
While specific historical data for Montgomery is not provided, it is reasonable to assume that salaries for Loan Interviewers and Clerks have experienced gradual growth over the past four years, mirroring national trends. Economic shifts and evolving financial sector demands typically lead to modest annual increases in compensation for such roles.
Loan Interviewers and Clerks Salary Distribution in Montgomery, AL
Career progression for Loan Interviewers and Clerks in Montgomery, AL, is typically marked by increasing salary levels. Entry-level positions will likely fall towards the lower end of the pay scale, while experienced professionals with a proven track record and advanced skills can command significantly higher salaries, often reaching into the upper percentiles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $31,040 | $14.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $32,903 | $15.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $46,520 | $22.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $54,838 | $26.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $53,380 | $25.7 |
Detailed Loan Interviewers and Clerks Market Analysis
Relocation Context
Nominal Salary
$43,870
Gross Pay
Real Wage (Purchasing Power)
$43,870
Adjusted for COL (100)
The average annual salary of $43,870 in Montgomery, AL, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Loan Interviewer and Clerk's salary in Montgomery is equivalent to the national average, offering a stable financial standing relative to the cost of essential goods and services.
Job Market Context
240
Total Jobs
1.463
Per 1K Jobs
1.3
Location Quotient
With a location quotient of 1.30, Montgomery, AL has a slightly higher-than-average concentration of Loan Interviewers and Clerks roles compared to the national norm.
With a Location Quotient of 1.3, Montgomery, AL, exhibits a higher concentration of Loan Interviewers and Clerks compared to the national average. This suggests a relatively robust demand for these roles within the local economy, potentially offering more opportunities and a slightly more competitive environment for job seekers in this sector.
Nearby Job Markets
Nearby Cities for Loan Interviewers and Clerks
| City | Salary | Dist. |
|---|---|---|
| Northeast Alabama nonmetropolitan area Loan Interviewers and Clerks Salary | $40,420↓ 8% | 44 mi |
| Southeast Alabama nonmetropolitan area Loan Interviewers and Clerks Salary | $40,820↓ 7% | 44 mi |
| Northwest Alabama nonmetropolitan area Loan Interviewers and Clerks Salary | $41,350↓ 6% | 44 mi |
| Southwest Alabama nonmetropolitan area Loan Interviewers and Clerks Salary | $37,900↓ 14% | 44 mi |
| Auburn-Opelika, AL Loan Interviewers and Clerks Salary | $45,970↑ 5% | 49 mi |
Comparing salaries near Montgomery, AL
Hiring Loan Interviewers and Clerkss?
Frequently Asked Questions
How much does a Loan Interviewers and Clerks make in Montgomery, AL?
The median annual salary for a Loan Interviewers and Clerks in Montgomery, AL is $43,870. This typically ranges from $31,040 for entry-level positions to $53,380 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Montgomery, AL is 14.1% lower than the national median of $51,050.
Is Montgomery, AL a lucrative place for Loan Interviewers and Clerks?
No, not particularly lucrative compared to the national average.While the cost of living is average, the nominal salary of $43,870 is significantly lower than the national average of $51,050. This indicates that while your money might go as far, the total earnings are less competitive.
Is Montgomery, AL a good place to live for Loan Interviewers and Clerks?
The Cost of Living Index in Montgomery, AL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Montgomery, AL?
Some top paying nearby cities include Northeast Alabama nonmetropolitan area ($40,420) and Southeast Alabama nonmetropolitan area.
How does Montgomery's salary for Loan Interviewers and Clerks compare to the national average?
The average salary in Montgomery, AL, is $43,870, which is lower than the national average of $51,050.
What is the concentration of Loan Interviewers and Clerks in Montgomery, AL?
Montgomery has a higher concentration of these roles, with a Location Quotient of 1.3, indicating more jobs per capita than the national average.
How does the cost of living in Montgomery affect the salary?
Montgomery's cost of living is at the national average (100), meaning the $43,870 salary has average purchasing power locally.
What is the total number of Loan Interviewers and Clerks in Montgomery, AL?
There are approximately 240 Loan Interviewers and Clerks employed in Montgomery, AL.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 240 employees in the Montgomery, AL area with a job density of 1.463 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 Interviewers and Clerks • Data source: BLS OEWS 2024 •Jobs in Montgomery, AL