Average Loan Officers Salary in Mobile, AL
Loan Officers in Mobile, AL earn an average annual salary of $75,620. This figure is notably below the national average of $86,220, suggesting that local market dynamics, such as demand and the cost of doing business, play a significant role in compensation for this profession within the city.
Executive Summary
- Average Salary: $75,620 per year.
- Growth Trend: Salaries have shifted 8.4% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $129,000.
- Outlook: With a total local workforce of 320 Loan Officers, the job market in Mobile, AL, presents a stable, albeit not exceptionally concentrated, environment. The location quotient of 0.99 indicates that the concentration of Loan Officers in Mobile is nearly on par with the national average, suggesting a steady demand that aligns with broader economic trends.
Salary Overview
The average Loan Officers in Mobile, AL earns-12.3%below the national average.
$36.4
$1,454
$6,302
Loan Officers Salary Trends (2020-2024)
While specific historical data for Mobile, AL is not provided, it is reasonable to assume that Loan Officer salaries in the region have experienced gradual growth over the past four years, mirroring national trends. Economic fluctuations and evolving lending practices likely contribute to incremental increases in compensation, reflecting the ongoing importance of financial services.
Loan Officers Salary Distribution in Mobile, AL
The salary trajectory for Loan Officers in Mobile, AL, typically escalates with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with a proven track record and specialized skills can command significantly higher salaries, often reaching into the upper percentiles of the compensation range. This progression reflects the increasing value and responsibility associated with senior roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $39,760 | $19.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $56,715 | $27.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $57,250 | $27.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $94,525 | $45.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $129,000 | $62 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$75,620
Gross Pay
Real Wage (Purchasing Power)
$75,620
Adjusted for COL (100)
The average annual salary of $75,620 for Loan Officers in Mobile, AL, aligns perfectly with the local cost of living index of 100, which is the national average. This means that the purchasing power of a Loan Officer's salary in Mobile is equivalent to the national average, offering a balanced financial standing relative to the cost of goods and services.
Job Market Context
320
Total Jobs
1.871
Per 1K Jobs
0.99
Location Quotient
Mobile, AL has 0.99x the national average concentration of Loan Officers jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A location quotient of 0.99 for Loan Officers in Mobile, AL, signifies a job market that is closely aligned with the national average in terms of professional concentration. This suggests a competitive yet stable environment where the number of available professionals is well-matched to the demand for their services, indicating neither an oversupply nor a significant shortage.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Daphne-Fairhope-Foley, AL Loan Officers Salary | $80,560↑ 7% | 14 mi |
| Pensacola-Ferry Pass-Brent, FL Loan Officers Salary | $72,970↓ 4% | 57 mi |
| Gulfport-Biloxi, MS Loan Officers Salary | $60,340↓ 20% | 59 mi |
| Hattiesburg, MS Loan Officers Salary | $69,520↓ 8% | 83 mi |
| Crestview-Fort Walton Beach-Destin, FL Loan Officers Salary | $74,790↓ 1% | 91 mi |
Comparing salaries near Mobile, AL
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Mobile, AL?
The median annual salary for a Loan Officers in Mobile, AL is $75,620. This typically ranges from $39,760 for entry-level positions to $129,000 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Mobile, AL is 12.3% lower than the national median of $86,220.
Is Mobile, AL a lucrative place for Loan Officers?
No, not exceptionally lucrative compared to the national average.While the salary of $75,620 is stable and aligns with the local cost of living, it falls below the national average for Loan Officers. This indicates that earning potential may be somewhat capped in this specific market.
Is Mobile, AL a good place to live for Loan Officers?
The Cost of Living Index in Mobile, AL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Mobile, AL?
Some top paying nearby cities include Daphne-Fairhope-Foley, AL ($80,560) and Pensacola-Ferry Pass-Brent, FL.
How does the Mobile, AL Loan Officer salary compare to the national average?
The average annual salary for Loan Officers in Mobile, AL, is $75,620, which is lower than the national average of $86,220.
What is the cost of living in Mobile, AL for Loan Officers?
The cost of living index in Mobile, AL, is 100, which is exactly the national average. This means your salary has average purchasing power.
How concentrated is the Loan Officer job market in Mobile, AL?
The job market is nearly as concentrated as the national average, with a location quotient of 0.99, indicating a balanced supply and demand.
What is the total number of Loan Officers in Mobile, AL?
There are approximately 320 Loan Officers working in the Mobile, AL area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 320 employees in the Mobile, AL area with a job density of 1.871 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 Officers • Data source: BLS OEWS 2024 •Jobs in Mobile, AL