Average Loan Officers Salary in Southwest Alabama nonmetropolitan area
The average salary for a Loan Officers in Southwest Alabama nonmetropolitan area is $87,340. This compensation is in line with national standards, reflecting a balanced and stable local job market. Notably, Southwest Alabama nonmetropolitan area is a key hub for this profession, with a job concentration 1.4x higher than average.
Executive Summary
- Average Salary: $87,340 per year.
- Growth Trend: Salaries have shifted 28.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $160,620.
- Outlook: The current demand for Loan Officerss is stable, with a local workforce of approximately 170 professionals. This role remains a specialized component of the broader Southwest Alabama nonmetropolitan area economy.
Salary Overview
The average Loan Officers in Southwest Alabama nonmetropolitan area earns+1.3%above the national average.
$42
$1,680
$7,278
Loan Officers Salary Trends (2020-2024)
Over the past 4 years, Loan Officers salaries in Southwest Alabama nonmetropolitan area have experienced a rapid surge, growing by 28.0%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Loan Officers Salary Distribution in Southwest Alabama nonmetropolitan area
The earning potential for Loan Officerss in Southwest Alabama nonmetropolitan area varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 4.2x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $38,460, while highly experienced professionals can command wages upwards of $160,620.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $38,460 | $18.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $65,505 | $31.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $64,990 | $31.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $109,175 | $52.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $160,620 | $77.2 |
Detailed Loan Officers Market Analysis
Relocation Context
Nominal Salary
$87,340
Gross Pay
Real Wage (Purchasing Power)
$87,340
Adjusted for COL (100)
In Southwest Alabama nonmetropolitan area, the Cost of Living Index is 100. This increases your effective purchasing power from $87,340 to $87,340.
Job Market Context
170
Total Jobs
2.632
Per 1K Jobs
1.4
Location Quotient
With a location quotient of 1.40, Southwest Alabama nonmetropolitan area has a slightly higher-than-average concentration of Loan Officers roles compared to the national norm.
170 people work as Loan Officers in Southwest Alabama nonmetropolitan area.
Moderate density — roughly 2.632 out of every 1,000 local jobs are in this profession.
Nearby Job Markets
Nearby Cities for Loan Officers
| City | Salary | Dist. |
|---|---|---|
| Montgomery, AL Loan Officers Salary | $80,600↓ 8% | 44 mi |
| Birmingham, AL Loan Officers Salary | $79,250↓ 9% | 50 mi |
| Tuscaloosa, AL Loan Officers Salary | $86,960↓ 0% | 52 mi |
| Auburn-Opelika, AL Loan Officers Salary | $87,570↑ 0% | 77 mi |
| Anniston-Oxford, AL Loan Officers Salary | $76,770↓ 12% | 82 mi |
Comparing salaries near Southwest Alabama nonmetropolitan area
Hiring Loan Officerss?
Frequently Asked Questions
How much does a Loan Officers make in Southwest Alabama nonmetropolitan area?
The median annual salary for a Loan Officers in Southwest Alabama nonmetropolitan area is $87,340. This typically ranges from $38,460 for entry-level positions to $160,620 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southwest Alabama nonmetropolitan area is 1.3% higher than the national median of $86,220.
Is Southwest Alabama nonmetropolitan area a good place for Loan Officerss?
Yes, Southwest Alabama nonmetropolitan area is an excellent location for Loan Officerss. It offers both higher-than-average salaries ($87,340) and a high concentration of job opportunities. See distinct detailed breakdown below.
Is Southwest Alabama nonmetropolitan area a good place to live for Loan Officers?
The Cost of Living Index in Southwest Alabama nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southwest Alabama nonmetropolitan area?
Some top paying nearby cities include Montgomery, AL ($80,600) and Birmingham, AL.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 170 employees in the Southwest Alabama nonmetropolitan area area with a job density of 2.632 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 Southwest Alabama nonmetropolitan area