Assistant Loan Officer Salary

Assistant Loan Officers aren't exactly in the most profitable line of business; these folks earn a belt-tightening average of $37K annually. Bonuses, profit sharing, and commission all factor into final incomes for Assistant Loan Officers. Ranging between $26K near the bottom and $54K near the top, total earnings can include up to $16K from bonuses and up to $21K from profit sharing, with a high-performing minority reaping commissions of $21K. Earnings for this group are mostly affected by residence, followed by experience level and the particular employer. The vast majority (83 percent) of Assistant Loan Officers who took the survey are female. For the most part, Assistant Loan Officers enjoy their work and report high levels of job satisfaction. Although approximately one in four lack health benefits of any kind, a majority do enjoy medical insurance, and more than half get dental coverage, too. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$27,529 - $48,784
$28K
$37K
$49K
MEDIAN: $36,679
10%
50%
90%

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$10.82 - $20.52
$11
$15
$21
MEDIAN: $15.20
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
$27,529 - $48,784  
   
Bonus
$983 - $16,000  
Profit Sharing
$-0.50 - $20,553  
Commission
$515 - $20,620  
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).
)
$25,801 - $53,657  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 219
© PayScale, Inc. @ www.payscale.com
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$10$20$30
Hourly Rate
$10.82 - $20.52  
   
Overtime
$6.57 - $29.81  
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$20K$40K$60K
Bonus
$983 - $16,000  
   
Commission
$515 - $20,620  
Profit Sharing
$-0.50 - $20,553  
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).
)
$25,801 - $53,657  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 169
© PayScale, Inc. @ www.payscale.com

Find Out Exactly What You Should Be Paid

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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As Assistant Loan Officers transition into upper-level roles such as Commercial Loan Officer, they may see a strong upturn in salary. Commercial Loan Officers earn $66K on average per year.

Assistant Loan Officer Job Listings

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Popular Employer Salaries for Assistant Loan Officer


Prospect Mortgage leads the field in terms of pay, with a median salary of $43K.

Popular Skills for Assistant Loan Officer


Assistant Loan Officers report using a diverse set of skills on the job. 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 pay less than market rate include Loan Documents. Those familiar with Customer Relations also tend to know Mortgage Loans.

Pay by Experience Level for Assistant Loan Officer

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


More years of relevant experience do not necessarily translate to higher paychecks. Survey participants with less than five years' experience pocket $35K on average, but those with five to 10 years of experience enjoy a much bigger median of $44K. On average, Assistant Loan Officers make $45K following one to two decades on the job. Folks who have racked up more than 20 years in the field report incomes that aren't higher than less experienced individuals' earnings.

Related Job Salaries

Key Stats for Assistant Loan Officer

Gender

Female
83 %
Male
17 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 44 votes.
Less than 1 year
14%
1-4 years
46%
5-9 years
13%
10-19 years
19%
20 years or more
8%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Assistant Loan Officer Salaries

▲16%

▲15%

▲13%

National Average
$39,000

▼11%

Skills That Affect Assistant Loan Officer Salaries




National Average
$39,000



Loan Documents
▼3%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 44 votes.

Gender

Female
83 %
Male
17 %

Years of Experience

Less than 1 year
14%
1-4 years
46%
5-9 years
13%
10-19 years
19%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 69%
dental benefits
Dental: 64%
vision benefits
Vision: 56%
dental benefits
None: 26%
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