Assistant Loan Officer Salary

Assistant Loan Officers in the United States can expect only a modest salary, with average pay of just $36K annually. Bonuses, profit sharing, and commission all factor into final incomes for Assistant Loan Officers. Ranging between $25K near the bottom and $54K near the top, total earnings can include up to $15K from bonuses and up to $12K from profit sharing, with a high-performing minority reaping commissions of $23K. Geographic location is the biggest factor affecting pay for this group, followed by tenure. Job satisfaction is reported as high by the vast majority of workers. Women account for the majority of Assistant Loan Officers who took the survey — 82 percent to be exact. Not all workers are lucky enough to have benefits; in fact, about one in five are without coverage. Medical insurance is claimed by a strong majority and dental insurance is reported by more than half. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$25,242 - $49,834

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$10.04 - $19.95

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$18K$36K$54K
Salary
$25,242 - $49,834  
   
Bonus
$0.00 - $15,254  
Profit Sharing
$0.00 - $11,745  
Commission
$0.00 - $23,489  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$24,759 - $53,583  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 295
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$9$18$27
Hourly Rate
$10.04 - $19.95  
   
Overtime
$15.00 - $26.61  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$18K$36K$54K
Bonus
$0.00 - $15,254  
   
Commission
$0.00 - $23,489  
Profit Sharing
$0.00 - $11,745  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$24,759 - $53,583  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 174
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Job Description for Assistant Loan Officer

Assistant loan officers are in charge of reviewing loan applications and completing administrative tasks for their organization. They are responsible for checking important loan details and requirements before submitting all documentation to the lender. They also prepare cost estimates for borrowers, provide all necessary information to relevant parties, answer client inquiries, and redirect questions to the appropriate departments.

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Assistant Loan Officer Tasks

  • Review, identify, and resolve problems with loan applications.
  • Facilitate the application process by initiating pre-qualification inquiry calls and reviewing resulting data with the loan officer.
  • Approve, deny, and review loan recommendations.
  • Assist in managing a loan portfolio with regard to credit quality and administration, and portfolio performance.
  • Coordinate and manage marketing to current clients and potential customers.

Common Career Paths for Assistant Loan Officer


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At the upper end, Assistant Loan Officers who move into a Commercial Loan Officer role can end up with a hefty increase in pay. The average income for Commercial Loan Officers is a much higher $65K per year.

Assistant Loan Officer Job Listings

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Popular Skills for Assistant Loan Officer


Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Mortgage Loans, Customer Relationship Management, Customer Service, and Loan Processing are correlated to pay that is above average, with boosts between 5 percent and 14 percent. Skills that seem to negatively impact pay include Loan Documents. Most people experienced in Customer Relations also know Mortgage Loans.

Pay by Experience Level for Assistant Loan Officer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


For Assistant Loan Officers, more experience in the field does not usually mean bigger paychecks. Salaries of relatively inexperienced workers fall in the neighborhood of $34K, but folks who have racked up five to 10 years see a notably higher median of $40K. Assistant Loan Officers claiming one to two decades of experience make an estimated median of $44K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $45K.

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Experience Affects Assistant Loan Officer Salaries




National Average
$37,000


Skills That Affect Assistant Loan Officer Salaries




Loan Processing
up arrow 2%

Customer Relations
up arrow 2%

National Average
$37,000

Loan Documents
up arrow 11%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 60 votes.

Gender

Female
82 %
Male
18 %

Years of Experience

Less than 1 year
10%
1-4 years
48%
5-9 years
18%
10-19 years
16%
20 years or more
8%

Common Health Benefits

medical benefits Medical: 75% dental benefits Dental: 66%
vision benefits Vision: 55% employee benefits None: 20%
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