Assistant Loan Officer Salary

Assistant Loan Officers in the United States are not likely to strike it rich; they only make around $36K per year on average. Total cash compensation for Assistant Loan Officers runs from $25K to $54K depending on bonuses that can occasionally exceed $18K and profit sharing that can reach almost $9K. Location and experience level each impact pay for this group, with the former having the largest influence. While some workers in this profession — approximately one in five — do not have any health coverage, a fair number do receive medical benefits and the greater part have dental insurance. Most Assistant Loan Officers report high levels of job satisfaction. Among survey respondents, women are more common than men; 81 percent of Assistant Loan Officers are female. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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$26,066 - $49,783
(Median)
$26K
$36K
$50K
MEDIAN: $36,010
10%
50%
90%

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$10.45 - $19.85
(Median)
$10
$15
$20
MEDIAN: $14.00
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
$26,066 - $49,783  
   
Bonus
$0.00 - $17,759  
Profit Sharing
$0.00 - $8,550  
Commission
$0.00 - $20,273  
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).
)
$25,429 - $53,712  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 321
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$9$18$27
Hourly Rate
$10.45 - $19.85  
   
Hourly Tips
$6.25  
Overtime
$14.49 - $26.44  
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$18K$36K$54K
Bonus
$0.00 - $17,759  
   
Commission
$0.00 - $20,273  
Profit Sharing
$0.00 - $8,550  
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).
)
$25,429 - $53,712  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 197
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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 $66K annually.

Assistant Loan Officer Job Listings

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Popular Skills for Assistant Loan Officer


Survey results suggest that Assistant Loan Officers put a wide range of professional skills to use. 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 6 percent and 15 percent. At the other end of the pay range are skills like 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.


More years of relevant experience do not necessarily translate to higher paychecks. Relatively untried employees who have less than five years' experience make $35K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $41K. Assistant Loan Officers who work for 10 to 20 years in their occupation tend to earn about $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
$38,000


Skills That Affect Assistant Loan Officer Salaries




Loan Processing
up arrow 3%

Customer Relations
0%

National Average
$38,000

Loan Documents
up arrow 10%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 64 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
10%
1-4 years
46%
5-9 years
19%
10-19 years
16%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 75%
dental benefits
Dental: 66%
medical benefits
Vision: 55%
dental benefits
None: 21%
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