The annual salary statistics of loan officers in Birmingham-Hoover, Alabama is shown in Table 1. The wage statistics of loan officers in Birmingham-Hoover is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $39,040 |
| 25th Percentile Wage | $46,410 |
| 50th Percentile Wage | $61,820 |
| 75th Percentile Wage | $83,220 |
| 90th Percentile Wage | $130,330 |
Table 1 shows the average annual salary for loan officers in Birmingham-Hoover, Alabama in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $130,330. The median (50th percentile) annual salary is $61,820. The average annual salary for the bottom 10 percent earners is $39,040.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $61,820 | 6.63% | 14.59% |
| 2021 | $57,720 | -2.44% | - |
| 2020 | $59,130 | 8.79% | - |
| 2019 | $53,930 | -13.00% | - |
| 2018 | $60,940 | -10.86% | - |
| 2017 | $67,560 | 16.93% | - |
| 2016 | $56,120 | 5.43% | - |
| 2015 | $53,070 | 6.18% | - |
| 2014 | $49,790 | -18.58% | - |
| 2013 | $59,040 | 10.57% | - |
| 2012 | $52,800 | - | - |
From Table 3 we note that the median annual salary of $61,820 in Birmingham-Hoover is in the middle of salary range for loan officers in state of Alabama. In comparison, the annual salary of loan officers in Birmingham-Hoover is 15.1 percent (15.1%) lower than that in the highest paying Southwest Alabama nonmetropolitan area and 26.2 percent (26.2%) higher than that in the lowest paying Gadsden.