Assistant Loan Officer Salary (United States)

About two-thirds of Assistant Loan Officers report fewer than five years in the field, making for a fairly junior workforce. The group as a whole takes home roughly $34,770 annually on average. The range in pay spans from $22,923 to $51,372 per year. Career duration and geography each impact pay for this group, with the former having the largest influence. Benefits are plentiful in this line of work; most people have both medical and dental plans, and about half have vision insurance. Work is enjoyable for the better half of Assistant Loan Officers who claim high levels of job satisfaction. The figures in this overview are derived from responses to the PayScale salary survey.
Assistant Loan Officer Salary (?
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.
)
$24,726 - $48,864
(Median)
25K
30K
34K
40K
49K
MEDIAN: $34,452
10%
25%
50%
75%
90%
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Assistant Loan Officer Salary (?
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.
)
$9.68 - $18.92
(Median)
9
11
14
16
19
MEDIAN: $13.00
10%
25%
50%
75%
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
$24,726 - $48,864  
   
Bonus
$0.00 - $14,318  
Profit Sharing
$500 - $5,189  
Commission
$0.00 - $26,000  
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).
)
$22,923 - $51,372  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 259
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
$9.68 - $18.92  
   
Overtime
$14.69 - $25.36  
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 - $14,318  
   
Commission
$0.00 - $26,000  
Profit Sharing
$500 - $5,189  
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).
)
$22,923 - $51,372  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 148
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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.
Read More...
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 may experience a big boost in pay as they move up the career ladder. An upper-level role like Commercial Loan Officer may bring in a lot more money — an additional $31K annually. Becoming a Loan Officer is, more often than not, the most common role that Assistant Loan Officers move into when they're ready for the next step in their career, and salaries hike up an additional $6,040. Another frequent advance is for Assistant Loan Officers to assume an Administrative Assistant role; in this role, workers often experience a pay cut of $3,918.

Assistant Loan Officer Job Listings

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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, experience is not a major factor in determining pay, and incremental pay growth is standard. Starting out, salaries fall in the $33K range but grow to $37K after five to 10 years. Between 10 and 20 years, pay reaches $41K. A 20-year tenure heralds decreased salary growth, and Assistant Loan Officers who have made it this far report earning around $45K per year. Experienced employees who have 10-20 years of experience make up 16 percent of the workforce; inexperienced individuals who have been working for less than one year comprise 12 percent, and senior people with more than 20 years under their belt fill out the remaining 5 percent. Workers in this area tend to have one to nine years of experience.

Pay Difference By Location

St. Louis
up arrow 22%
Seattle
up arrow 9%
Charlotte
up arrow 6%
Houston
up arrow 4%
National Average
$35,000
San Diego
up arrow 3%
Larger circles over a city indicate a job is popular in that location.
Surpassing the national average by 22 percent, Assistant Loan Officers in St. Louis receive some of the highest pay in the country. Assistant Loan Officers will also find cushy salaries in Seattle (+9 percent) and Charlotte (+6 percent). Falling short of the national average by 3 percent, the area with the worst salaries is San Diego.

Related Job Salaries

Experience Affects Assistant Loan Officer Salaries

Late-Career
up arrow 28%
Experienced
up arrow 19%
Mid-Career
up arrow 6%
National Average
$35,000
Entry-Level
up arrow 8%

Skills That Affect Assistant Loan Officer Salaries

Customer Relationship Management (CRM)
up arrow 9%
Mortgage Loans
up arrow 1%
National Average
$35,000
Loan Documents
up arrow 7%

Job Satisfaction

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Highly satisfied
Rated 4 out of 5 based on 79 votes.

Gender

Female
81%
female alumni
 
Male
19%
male alumni

Years of Experience

Less than 1 year
12%
1-4 years
49%
5-9 years
19%
10-19 years
16%
20 years or more
5%

Common Health Benefits

medical benefits Medical: 78% dental benefits Dental: 63%
vision benefits Vision: 49% employee benefits None: 20%
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