HOME BROWSE SALARIES ARTICLES BEST PAYING JOBS SUBMIT SALARY
Browse Salaries
Best Paying Jobs
Articles
Submit Salary
Salary Increase Letters

Banking Average Salaries in Alabama 2024

How much money does a person working in Banking make in Alabama?


Average Yearly Salary
111,000 USD
( 9,240 USD monthly)

LOW
34,700
USD
AVERAGE
111,000
USD
HIGH
226,000
USD
All salary figures displayed here are per year except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Banking in Alabama typically earns around 111,000 USD. Salaries range from 34,700 USD (lowest average) to 226,000 USD (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Banking domain in Alabama exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Banking
AML Analyst160,000 USD
Assistant Bank Branch Manager133,000 USD
Assistant Bank Manager174,000 USD
ATM Manager143,000 USD
ATM Service Technician42,000 USD
Bank Accounts Analyst59,400 USD
Bank Accounts Collector36,500 USD
Bank Accounts Controller75,100 USD
Bank Accounts Executive108,000 USD
Bank Accounts Manager134,000 USD
Bank Auditing Manager131,000 USD
Bank Branch Manager187,000 USD
Bank Branch Operations Coordinator77,000 USD
Bank Clerk34,700 USD
Bank Client Service Associate50,300 USD
Bank Collector34,900 USD
Bank Compliance Specialist92,000 USD
Bank Manager202,000 USD
Bank Operational Risk Manager214,000 USD
Bank Operations Head220,000 USD
Bank Operations Officer81,100 USD
Bank Operations Specialist135,000 USD
Bank Process Manager121,000 USD
Bank Product Manager 136,000 USD
Bank Programme Manager145,000 USD
Bank Project Manager172,000 USD
Bank Propositions Manager149,000 USD
Bank Quantitative Analyst110,000 USD
Bank Regional Manager207,000 USD
Bank Regional Risk Officer104,000 USD
Bank Relationship Manager163,000 USD
Bank Relationship Officer70,400 USD
Bank Sustainability Analyst117,000 USD
Bank Teller36,500 USD
Banker74,500 USD
Banking Business Analyst110,000 USD
Banking Business Development Officer69,400 USD
Banking Business Planning Executive159,000 USD
Banking Data Analyst128,000 USD
Banking Product Manager140,000 USD
Banking Reference Data Manager116,000 USD
Banking Regulatory Compliance Officer127,000 USD
Banking Risk Analyst104,000 USD
Banking Technical Analyst55,800 USD
Bankruptcy Coordinator77,700 USD
Bill and Account Collector37,000 USD
Blockchain Analyst89,400 USD
Blockchain Architect111,000 USD
Blockchain Auditor95,200 USD
Blockchain Compliance Analyst95,000 USD
Blockchain Consultant107,000 USD
Blockchain Trade Facilitator86,500 USD
Budget Analyst106,000 USD
Capital Risk Manager211,000 USD
Cards Marketing Manager140,000 USD
Cash Management Manager188,000 USD
Check Processing Manager134,000 USD
Chief Blockchain Officer119,000 USD
Commercial Vault Associate102,000 USD
Corporate Banker77,400 USD
Corporate Dealer115,000 USD
Credit Analyst80,500 USD
Credit and Collections Manager150,000 USD
Credit Card Fraud Investigator111,000 USD
Credit Portfolio Manager211,000 USD
Credit Risk Analyst117,000 USD
Credit Risk Associate116,000 USD
Cryptocurrency Accountant71,900 USD
Cryptocurrency Adviser135,000 USD
Cryptocurrency Analyst97,900 USD
Cryptocurrency Compliance Manager130,000 USD
Cryptocurrency Trader113,000 USD
Digital Banking Manager140,000 USD
Digital Currency Analyst106,000 USD
Direct Bank Sales Representative73,500 USD
Exchange Control Consultant118,000 USD
Executive Account Analyst103,000 USD
Financial Bank Planning Consultant133,000 USD
Financial Banking Analysis Manager158,000 USD
Financial Banking Assistant49,500 USD
Financial Banking Systems Manager151,000 USD
Foreign Exchange Manager157,000 USD
Fraud Analyst116,000 USD
Fraud Detection Associate75,100 USD
Fraud Detection Manager165,000 USD
Fraud Detection Supervisor97,000 USD
Internal Bank Audit Manager189,000 USD
Internal Bank Auditor108,000 USD
Internal Private Banker80,900 USD
International Banking Manager220,000 USD
Investment Banking Analyst150,000 USD
Loan Analyst111,000 USD
Loan Area Manager128,000 USD
Loan Audit Team Leader120,000 USD
Loan Branch Manager127,000 USD
Loan Business Development Officer66,200 USD
Loan Clerk37,400 USD
Loan Collection and Recovery Manager131,000 USD
Loan Collection Manager135,000 USD
Loan Collector34,600 USD
Loan Examiner49,300 USD
Loan Officer42,500 USD
Loan Processing Manager118,000 USD
Loan Processor47,600 USD
Loan Quality Assurance Auditor114,000 USD
Loan Quality Assurance Manager123,000 USD
Loan Quality Assurance Representative79,400 USD
Loan Review Manager128,000 USD
Loan Team Leader111,000 USD
Loans Manager149,000 USD
Mortgage Advisor73,700 USD
Mortgage Collection Manager133,000 USD
Mortgage Collector35,900 USD
Mortgage Credit Analyst56,400 USD
Mortgage Credit Manager127,000 USD
Mortgage Development Manager141,000 USD
Mortgage Document Reviewer46,300 USD
Mortgage Funding Manager147,000 USD
Mortgage Operations Manager184,000 USD
Mortgage Payment Processing Clerk43,400 USD
Mortgage Processing Manager126,000 USD
Mortgage Processor47,800 USD
Mortgage Quality Assurance Auditor109,000 USD
Mortgage Quality Assurance Manager121,000 USD
Mortgage Servicing Clerk39,500 USD
Mortgage Servicing Manager121,000 USD
Mortgage Underwriter48,100 USD
Online Banking Manager181,000 USD
Open Banking Strategist111,000 USD
Payment Processing Clerk39,500 USD
Personal Banker78,100 USD
Personal Banking Advisor 76,300 USD
Phone Banker49,900 USD
Private Banker77,900 USD
Reconciliation and Investigation Specialist93,100 USD
Tax Officer67,000 USD
Teller36,800 USD
Trade Officer46,500 USD
Trade Product Manager129,000 USD
Trader52,300 USD
Treasury Operations Officer98,100 USD
Wealth Management Advisor163,000 USD


Banking Jobs Pay Scale and Salaries in Alabama

Median and salary distribution Alabama Banking yearly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/united-states/alabama/banking/median-and-salary-distribution-yearly-alabama-banking.jpg

Salary Structure and Pay Scale Comparison

5% of people earn
114,000 USD or more
10% of people earn
94,000 to 114,000 USD
20% of people earn
51,000 USD or less
65% of people earn
51,000 to 94,000 USD
Minimum Salary
34,700 USD
Median
101,000 USD
Maximum
226,000 USD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per year except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Banking in Alabama range from 34,700 USD (starting average salary) to 226,000 USD (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Banking is 101,000 USD, implying that half of the workforce in Alabama earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Banking in Alabama earn less than 75,800 USD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 125,000 USD, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Banking in Alabama. The analysis revealed that roughly 65% of all reported salaries fell within the range of 51,000 USD to 94,000 USD. Approximately 20% of salaries were below the 51,000 USD mark, while 10% ranged from 94,000 USD to 114,000 USD. Only 5% of individuals earned a gross salary of 114,000 USD or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.

Generally speaking, employees in Banking in Alabama having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg

Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Banking in Alabama, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in United States costs anywhere from 39,600 USD to 119,000 USD and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Banking / Alabama

Salary comparison by gender United States Banking yearly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/united-states/banking/salary-comparison-by-gender-yearly-united-states-banking.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Banking in United States, the average difference between the salary of male and female employees is 5%.

Male
106,000 USD
Female-5%
101,000 USD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in United States for all Careers

Salary comparison by gender yearly United States
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/united-states/salary-comparison-by-gender-yearly-united-states.jpg

Average Annual Salary Increment Percentage / Banking / Alabama

How much are annual salary increments in Alabama for individuals working in Banking? How often do employees get salary raises?

Professionals working in Banking in United States are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate United States Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/united-states/banking/annual-salary-increment-rate-united-states-banking.jpg


The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

United States / All Professions

Annual Salary Increment Rate United States
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/united-states/annual-salary-increment-rate-united-states.jpg

The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in United States is 6%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Banking / United States

How much and how often are bonuses being awarded?Annual Salary Bonus Rate United States Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/united-states/banking/annual-salary-bonus-rate-united-states-banking.jpg

100% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from % to % of their annual salary.

Received Bonus
%
No Bonus
100%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Hourly Average Wage / Banking / Alabama


53 USD per hour

The average hourly wage (pay per hour) in Banking in Alabama is 53 USD.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Banking in Alabama is 17 USD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in United States is 5% on average across all career fields.

Private Sector
92,800 USD
Public Sector+5%
97,500 USD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Banking in Alabama?

A good and competitive compensation would range anywhere between 101,000 USD and 125,000 USD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Banking in Alabama ranges from 34,700 USD to 75,800 USD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


Browse Salaries

Salary Increase Letters

Best Paying Jobs
Home BROWSE SALARIES ARTICLES BEST PAYING JOBS Salary Comparison Arabic Spanish

©Salary Explorer 2024