The annual salary statistics of loan officers in Florence-Muscle Shoals, Alabama is shown in Table 1. The wage information of loan officers in Florence-Muscle Shoals 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 | $34,950 |
| 25th Percentile Wage | $38,210 |
| 50th Percentile Wage | $49,570 |
| 75th Percentile Wage | $75,410 |
| 90th Percentile Wage | $118,630 |
Table 1 shows the average annual salary for loan officers in Florence-Muscle Shoals, Alabama in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $118,630. The median (50th percentile) annual salary is $49,570. The average annual salary for the bottom 10 percent earners is $34,950.
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 | $49,570 | 2.04% | -7.71% |
| 2021 | $48,560 | -15.42% | - |
| 2020 | $56,050 | 7.37% | - |
| 2019 | $51,920 | -1.19% | - |
| 2018 | $52,540 | -1.92% | - |
| 2017 | $53,550 | 4.54% | - |
| 2016 | $51,120 | 3.76% | - |
| 2015 | $49,200 | -20.79% | - |
| 2014 | $59,430 | 2.51% | - |
| 2013 | $57,940 | 7.85% | - |
| 2012 | $53,390 | - | - |
From Table 3 we note that the median annual salary of $49,570 in Florence-Muscle Shoals is in the middle of salary range for loan officers in state of Alabama. In comparison, the annual salary of loan officers in Florence-Muscle Shoals is 31.9 percent (31.9%) lower than that in the highest paying Southwest Alabama nonmetropolitan area and 7.9 percent (7.9%) 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 |