Loan Officer Salary in Birmingham, AL
How much does a loan officer make in Birmingham? Explore median, entry-level, and senior salaries adjusted for Birmingham's cost of living.
Salary Breakdown by Experience Level
See how loan officer salaries break down across different pay periods in Birmingham.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $36,024 | $61,240 | $86,456 |
| Monthly | $3,002 | $5,103 | $7,205 |
| Biweekly | $1,386 | $2,355 | $3,325 |
| Weekly | $693 | $1,178 | $1,663 |
| Hourly | $17 | $29 | $42 |
Birmingham vs National Average
How Birmingham's loan officer salaries compare to national figures.
Cost of Living in Birmingham
About Loan Officer
Overview
Evaluate loan applications and manage lending relationships with clients.
Education
Bachelor's degree in Finance or related field
Key Skills
Growth Rate
Expected job growth: +16% over the next decade
Compare Cities: Loan Officer Salary
See Loan Officer salaries in other top cities.
Financial Tools to Explore
Use these Pulsafi calculators to understand your finances based on a loan officer salary in Birmingham.
Salary Breakdown Calculator
See exactly how your salary breaks down into taxes and take-home pay.
Cost of Living Calculator
Understand your expenses and purchasing power in Birmingham.
Budget Calculator
Create a personalized budget based on your income and expenses.
Rent vs Buy Calculator
Compare the true costs of renting versus buying in Birmingham.
Loan Officer Salary in Birmingham, AL — Complete Guide
Median Salary Overview
The median salary for a loan officer in Birmingham, AL is $61,240 per year, adjusted for the local cost of living index of 93. This figure reflects typical earnings for experienced professionals in this role, considering Birmingham's unique economic conditions.
Salary Range and Experience Levels
Entry-level loan officer professionals in Birmingham can expect to earn around $36,024 annually. As professionals gain experience, salaries typically increase, with senior-level loan officers earning approximately $86,456 per year. This represents a 140% increase from entry to senior level.
Cost of Living Adjustment
Birmingham's cost of living index of 93 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Birmingham are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $77,370, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a loan officer's salary in Birmingham typically goes toward housing. With a 1-bedroom apartment averaging $1,150 per month, housing represents about 22.5% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Loan Officers are in growing demand across the United States, with an expected job growth of 16% over the next decade. In Birmingham, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.