Assistant Loan Officer Salary

Pay for Assistant Loan Officers in the United States is very modest at just $37K per year. Cash earnings for Assistant Loan Officers — which occasionally include more than $15K from bonuses and more than $21K from profit sharing — stretch from around $26K to approximately $53K. Location is the main element affecting pay for this group — experience level and the particular employer are driving factors as well. Women make up the vast majority of Assistant Loan Officers (83 percent) who answered the questionnaire. For the most part, Assistant Loan Officers enjoy their work and report high levels of job satisfaction. Not all workers are lucky enough to have benefits; in fact, nearly one in four are without coverage. Medical insurance is claimed by a fair number and dental insurance is reported by the larger part. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$26,520 - $48,573
$27K
$37K
$49K
MEDIAN: $36,793
10%
50%
90%

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$10.78 - $20.40
$11
$15
$20
MEDIAN: $15.30
10%
50%
90%

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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
$26,520 - $48,573  
   
Bonus
$968 - $15,252  
Profit Sharing
$-0.50 - $20,713  
Commission
$1,736 - $20,658  
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).
)
$25,560 - $53,333  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 220
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$11$22$33
Hourly Rate
$10.78 - $20.40  
   
Overtime
$12.66 - $30.20  
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$22K$44K$66K
Bonus
$968 - $15,252  
   
Commission
$1,736 - $20,658  
Profit Sharing
$-0.50 - $20,713  
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).
)
$25,560 - $53,333  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 172

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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

  • 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.
  • Approve, deny, and review loan recommendations.
  • 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.

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 $66K annually.

Assistant Loan Officer Job Listings

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Popular Employer Salaries for Assistant Loan Officer


The biggest paychecks can be found at Prospect Mortgage — the median salary there is $43K.

Popular Skills for Assistant Loan Officer


Assistant Loan Officers report using a wide range of professional skills. Most notably, skills in Mortgage Loans, Loan Processing, Customer Relationship Management, and Customer Service are correlated to pay that is above average, with boosts in pay of 6 percent. Skills that seem to negatively impact pay include Loan Documents. Most people familiar with Customer Relations also know Mortgage Loans.

Pay by Experience Level for Assistant Loan Officer

Pay by Experience for an Assistant Loan Officer has a positive trend. An entry-level Assistant Loan Officer with less than 5 years of experience can expect to earn an average total compensation of $35,000 based on 256 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Assistant Loan Officer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $44,000 based on 79 salaries. An experienced Assistant Loan Officer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $45,000 based on 81 salaries. An Assistant Loan Officer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $45,000 based on 32 salaries.

Related Job Salaries

Key Stats for Assistant Loan Officer

Gender

Female
83 %
Male
17 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 47 votes.
Less than 1 year
15%
1-4 years
45%
5-9 years
13%
10-19 years
19%
20 years or more
8%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Assistant Loan Officer Salaries

▲17%

▲15%

▲13%

National Average
$39,000

▼11%

Skills That Affect Assistant Loan Officer Salaries




National Average
$39,000



Loan Documents
▼3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 47 votes.

Gender

Female
83 %
Male
17 %

Years of Experience

Less than 1 year
15%
1-4 years
45%
5-9 years
13%
10-19 years
19%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 71%
dental benefits
Dental: 65%
vision benefits
Vision: 57%
no benefits
None: 25%
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