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Assistant Loan Officer Salary

It's impossible to make it big as a Assistant Loan Officers in the United States; the average employee scrapes together only around $36K annually. With some bonuses approaching $15K and certain profit sharing proceeds approaching $12K, overall incomes of Assistant Loan Officers spread between $24K and $53K depending on individual performance. Experience level is the biggest factor affecting pay for this group, followed by geography. While some workers in this profession — approximately one in five — do not have any health coverage, a strong majority do receive medical benefits and the greater part have dental insurance. Work is enjoyable for Assistant Loan Officers, who typically claim high levels of job satisfaction. Female Assistant Loan Officers far outnumber their male contemporaries among survey respondents. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$25,373 - $49,528
(Median)
$25K
$36K
$50K
MEDIAN: $35,645
10%
50%
90%

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$9.93 - $19.87
(Median)
$9
$15
$20
MEDIAN: $14.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$18K$36K$54K
Salary
$25,373 - $49,528  
   
Bonus
$0.00 - $15,347  
Profit Sharing
$0.00 - $11,920  
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).
)
$24,394 - $53,117  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 273
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$9$18$27
Hourly Rate
$9.93 - $19.87  
   
Overtime
$14.56 - $26.22  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$18K$36K$54K
Bonus
$0.00 - $15,347  
   
Commission
$0.00 - $23,489  
Profit Sharing
$0.00 - $11,920  
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).
)
$24,394 - $53,117  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 169

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United States (change)


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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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For Assistant Loan Officers, progressing to a Commercial Loan Officer role may result in a significant raise. On average, a Commercial Loan Officer can earn $65K annually.

Assistant Loan Officer Job Listings

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Popular Skills for Assistant Loan Officer


Assistant Loan Officers report using a wide range of professional skills. Most notably, skills in Mortgage Loans, Customer Relationship Management, Customer Service, and Customer Relations are correlated to pay that is above average, with boosts between 5 percent and 15 percent. Skills that seem to negatively impact pay include Loan Documents. Those educated in Customer Relations tend to be well versed in Mortgage Loans.

Pay by Experience Level for Assistant Loan Officer

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


Assistant Loan Officers do not generally earn higher incomes from more experience in the field. Relatively untried employees who have less than five years' experience make $34K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $39K. People with 10 to 20 years of experience make an average of about $44K in this role. Assistant Loan Officers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $45K on average.

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United States (change)

Experience Affects Assistant Loan Officer Salaries

Late-Career
up arrow 23%



National Average
$36,000


Skills That Affect Assistant Loan Officer Salaries




Loan Processing
up arrow 2%

Customer Relations
up arrow 2%

National Average
$36,000

Loan Documents
up arrow 11%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 63 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
9%
1-4 years
49%
5-9 years
19%
10-19 years
16%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 76% dental benefits Dental: 66%
vision benefits Vision: 55% employee benefits None: 20%
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