The annual salary statistics of loan officers in Daphne-Fairhope-Foley, Alabama is shown in Table 1. The wage statistics of loan officers in Daphne-Fairhope-Foley 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 | $35,870 |
| 25th Percentile Wage | $41,100 |
| 50th Percentile Wage | $58,880 |
| 75th Percentile Wage | $99,090 |
| 90th Percentile Wage | $156,040 |
Table 1 shows the average annual salary for loan officers in Daphne-Fairhope-Foley, Alabama in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $156,040. The median (50th percentile) annual salary is $58,880. The average annual salary for the bottom 10 percent earners is $35,870.
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 | $58,880 | 3.26% | -15.52% |
| 2021 | $56,960 | 14.48% | - |
| 2020 | $48,710 | -16.14% | - |
| 2019 | $56,570 | -24.62% | - |
| 2018 | $70,500 | -7.83% | - |
| 2017 | $76,020 | 10.52% | - |
| 2016 | $68,020 | -1.50% | - |
| 2015 | $69,040 | 1.48% | - |
| 2012 | $68,020 | - | - |
From Table 3 we note that the median annual salary of $58,880 in Daphne-Fairhope-Foley is in the middle of salary range for loan officers in state of Alabama. In comparison, the annual salary of loan officers in Daphne-Fairhope-Foley is 19.1 percent (19.1%) lower than that in the highest paying Southwest Alabama nonmetropolitan area and 22.5 percent (22.5%) higher than that in the lowest paying Gadsden.
| Cities/Areas | Median Annual Salary |
|---|---|
| Southwest Alabama nonmetropolitan area | |
| Auburn-Opelika | |
| Decatur | |
| Tuscaloosa | |
| Mobile | |
| Birmingham-Hoover | |
| Northwest Alabama nonmetropolitan area | |
| Northeast Alabama nonmetropolitan area | |
| Huntsville | |
| Southeast Alabama nonmetropolitan area | |
| Daphne-Fairhope-Foley | |
| Montgomery | |
| Dothan | |
| Florence-Muscle Shoals | |
| Anniston-Oxford | |
| Gadsden |