Assistant Loan Officers aren't exactly in the most profitable line of business; these folks earn a belt-tightening average of $37K per year. The range in cash compensation to Assistant Loan Officers (largely between $26K and $54K) includes potential earnings of $18K from bonuses, $21K from profit sharing, and commissions of $21K in exceptional cases. This group's pay is mainly influenced by location, followed by years of experience and the specific company. Assistant Loan Officers who responded to the questionnaire are largely women, dominating at 83 percent. Most Assistant Loan Officers like their work and job satisfaction is high. Health benefits are not enjoyed by everyone in this line of work, and nearly one in four lack any coverage at all. Medical benefits are reported by a fair number and dental coverage is claimed by the larger part. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$28,345 - $48,851
$28K
$37K
$49K
MEDIAN: $36,739
10%
50%
90%

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$10.69 - $20.53
$11
$15
$21
MEDIAN: $15.02
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$19K$38K$57K
Salary
$28,345 - $48,851  
   
Bonus
$996 - $18,000  
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).
)
$25,799 - $54,005  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 234
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
$10.69 - $20.53  
   
Overtime
$12.73 - $30.45  
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
$996 - $18,000  
   
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).
)
$25,799 - $54,005  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 170

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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Assistant Loan Officers may progress into high-paying roles like Commercial Loan Officer, where median compensation is $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 $44K.

Popular Skills for Assistant Loan Officer


Survey results suggest that Assistant Loan Officers use a fairly large toolkit of professional skills. Most notably, skills in Mortgage Loans, Loan Processing, Customer Relationship Management, and Customer Relations 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 skilled in Customer Relations are similarly competent in Mortgage Loans.

Pay by Experience Level for Assistant Loan Officer

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


Although individuals who have less than five years' experience earn $35K on average, people with five to 10 years benefit from a notably larger average of $44K. Assistant Loan Officers claiming one to two decades of experience make an estimated median 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.

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 41 votes.
046
Less than 1 year
13%
1-4 years
47%
5-9 years
14%
10-19 years
18%
20 years or more
9%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Assistant Loan Officer Salaries




National Average
$39,000


Skills That Affect Assistant Loan Officer Salaries




Customer Service
0%

Customer Relations
0%

National Average
$39,000

Loan Documents
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 41 votes.

Gender

Female
83 %
Male
17 %

Years of Experience

Less than 1 year
13%
1-4 years
47%
5-9 years
14%
10-19 years
18%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 70%
dental benefits
Dental: 67%
vision benefits
Vision: 58%
dental benefits
None: 25%
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