Assistant Loan Officer Salary

Those pursuing careers as Assistant Loan Officers in the United States may have to make do with less; average incomes for people in this area hover around only $36K per year. Total incomes of Assistant Loan Officers incorporate potential for, in a few cases, more than $16K from bonuses and close to $12K from profit sharing; these performance components cause packages to range between $25K and $54K. Residence and career length each impact pay for this group, with the former having the largest influence. Most workers in this position report high levels of job satisfaction. Women make up the vast majority of Assistant Loan Officers (81 percent) who answered the questionnaire. Health benefits are not claimed by all — nearly one in five lack any form of coverage — but a fair number have medical insurance, and the greater part have dental, too. The information for this snapshot was generated by responses to the PayScale salary survey.
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$25,276 - $49,592
(Median)
$25K
$36K
$50K
MEDIAN: $35,665
10%
50%
90%

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$10.05 - $20.15
(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
$25,276 - $49,592  
   
Bonus
$0.00 - $15,575  
Profit Sharing
$0.00 - $11,836  
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).
)
$24,733 - $53,729  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 287
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
$10.05 - $20.15  
   
Overtime
$15.00 - $26.85  
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 - $15,575  
   
Commission
$0.00 - $23,489  
Profit Sharing
$0.00 - $11,836  
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).
)
$24,733 - $53,729  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 176
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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


Survey results show that Assistant Loan Officers use a fair number of skills. Most notably, skills in Mortgage Loans, Customer Relationship Management, Customer Service, and Loan Processing are correlated to pay that is above average, with boosts between 5 percent and 14 percent. Skills that seem to negatively impact pay include Loan Documents. The majority of those who know Customer Relations also know Mortgage Loans.

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, more experience in the field does not usually mean bigger paychecks. Salaries of relatively inexperienced workers fall in the neighborhood of $34K, but folks who have racked up five to 10 years see a notably higher median of $39K. After working for 10 to 20 years, Assistant Loan Officers make a median salary of $45K. 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




National Average
$37,000


Skills That Affect Assistant Loan Officer Salaries




Loan Processing
up arrow 2%

Customer Relations
up arrow 2%

National Average
$37,000

Loan Documents
up arrow 11%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 59 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
10%
1-4 years
48%
5-9 years
18%
10-19 years
16%
20 years or more
8%

Common Health Benefits

medical benefits Medical: 75% dental benefits Dental: 66%
vision benefits Vision: 55% employee benefits None: 20%
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