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Assistant Loan Officer Salary

Assistant Loan Officers in the United States may have to scrimp and save; the median compensation is $36K per year. Total cash incomes of Assistant Loan Officers run from $24K to $53K, depending on bonuses that can occasionally exceed $15K, profit sharing that reaches $12K, and some commissions of nearly $23K. Career length and the particular city each impact pay for this group, with the former having the largest influence. Work is enjoyable for Assistant Loan Officers, who typically claim high levels of job satisfaction. Medical benefits are awarded to a fair number, and a majority earn dental coverage. The vast majority of Assistant Loan Officers (81 percent) who responded to the survey are women. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$25,242 - $49,485
(Median)
$25K
$36K
$49K
MEDIAN: $35,596
10%
50%
90%

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$9.96 - $19.80
(Median)
$10
$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
$25,242 - $49,485  
   
Bonus
$0.00 - $15,302  
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).
)
$24,390 - $53,187  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 275
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
$9.96 - $19.80  
   
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 - $15,302  
   
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).
)
$24,390 - $53,187  
Country: United States | Currency: USD | Updated: 16 May 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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Assistant Loan Officers who go on to become Commercial Loan Officers may see their salaries climb quite a bit. Median pay for Commercial Loan Officers is $65K annually.

Assistant Loan Officer Job Listings

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Popular Skills for Assistant Loan Officer


Assistant Loan Officers report using a pretty varied skill set on the job. Most notably, skills in Mortgage Loans, Customer Relationship Management, Customer Relations, and Loan Processing are correlated to pay that is above average. Skills that seem to negatively impact pay include Loan Documents. For most people, competency in Customer Relations indicates knowledge of Mortgage Loans.

Pay by Experience Level for Assistant Loan Officer

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


For many Assistant Loan Officers, extensive experience does not lead to significantly more money. The average beginner in this position makes around $34K, but folks who have been around for five to 10 years see a markedly higher median salary of $39K. Assistant Loan Officers who work for 10 to 20 years in their occupation tend to earn about $44K. Assistant Loan Officers with more than 20 years of experience report incomes that are no higher than those with 10 to 20 years on the job.

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Experience Affects Assistant Loan Officer Salaries


Late-Career
up arrow 21%


National Average
$36,000


Skills That Affect Assistant Loan Officer Salaries



Loan Processing
up arrow 3%

Customer Relations
up arrow 3%

Customer Service
up arrow 2%

National Average
$36,000

Loan Documents
up arrow 10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 64 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
9%
1-4 years
49%
5-9 years
18%
10-19 years
16%
20 years or more
8%

Common Health Benefits

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