Business & Finance Montgomery, AL Pop. 200,603

Loan Officer Salary in Montgomery, Alabama

The median loan officer salary in Montgomery, AL is $56,536 per year, which is 14% below the national median and 1.2% below the Alabama state average.

City Median
$56,536
vs State Avg
$-658
vs National
$-9,204
Cost of Living
86%

Loan Officer Salary in Montgomery by Experience

In Montgomery, an entry-level loan officer earns around $32,680, while experienced professionals earn up to $111,800 per year. The local cost of living index is 86% of the national average.

Entry Level (0-2 yrs)
$32,680
$-5,320 vs national
Mid Level (3-7 yrs)
$56,760
$-9,240 vs national
Senior Level (8+ yrs)
$111,800
$-18,200 vs national

Salary Percentiles in Montgomery, AL

Percentile Montgomery
10th Percentile $30,272
25th Percentile $39,044
Median (50th) $56,536
75th Percentile $86,000
90th Percentile $132,268

Loan Officer Salary in Other Alabama Cities

Huntsville, AL
$60,481
Pop. 216,963
Birmingham, AL
$59,166
Pop. 197,575
Tuscaloosa, AL
$57,851
Pop. 101,129
Mobile, AL
$55,879
Pop. 187,041

How to Become a Loan Officer in Montgomery

Education

Most loan officer positions require a bachelor's degree. Montgomery and the surrounding Alabama 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 Montgomery may vary based on local industry and population growth.

Find Loan Officer Jobs in Montgomery

Browse open loan officer positions in Montgomery, AL:

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Frequently Asked Questions: Loan Officer Salary in Montgomery

How much does a Loan Officer make in Montgomery, AL? ▼
The median loan officer salary in Montgomery, Alabama is $56,536 per year, which is 14% below the national median of $65,740. Salaries range from $30,272 (10th percentile) to $132,268 (90th percentile).
How much does a Loan Officer make per hour in Montgomery? ▼
Based on the median annual salary of $56,536, a loan officer in Montgomery earns approximately $27 per hour assuming a standard 2,080-hour work year.
How does Montgomery compare to the Alabama state average for loan officer pay? ▼
Montgomery's median loan officer salary of $56,536 is 1.2% below the Alabama state average of $57,194. The local cost of living index is 86% of the national average.
What is the cost of living in Montgomery, AL? ▼
Montgomery has a cost of living index of 86% compared to the national average. This means a loan officer salary of $56,536 in Montgomery has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Montgomery? ▼
Most loan officer positions in Montgomery require a bachelor's degree. Key skills include Credit Analysis, Mortgage Lending, Customer Service, Regulatory Compliance. The job market is projected to grow 3% nationally over the next decade.