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
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.