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Consumer Loan Manager Salary

Consumer Loan Managers in the United States are often veterans in their line of work, with slightly less than two-thirds bringing more than 10 years of experience to the table. Salaries slide in at $55K per year on average but can range from $35K to $83K per year. Job satisfaction is high and work is enjoyable for most Consumer Loan Managers. Women Consumer Loan Managers who took the survey just slightly outnumber men. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. This report is based on responses to the PayScale salary survey.

$39,318 - $79,442
(Median)
$39K
$55K
$79K
MEDIAN: $55,464
10%
50%
90%

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$10.75 - $24.18
(Median)
$11
$15
$24
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$28K$56K$84K
Salary
$39,318 - $79,442  
   
Bonus
$0.00 - $10,287  
Commission
$4,913 - $18,313  
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).
)
$34,966 - $82,552  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 103
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$14$28$42
Hourly Rate
$10.75 - $24.18  
   
Overtime
$0.00 - $36.57  
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$28K$56K$84K
Bonus
$0.00 - $10,287  
   
Commission
$4,913 - $18,313  
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).
)
$34,966 - $82,552  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 14

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Job Description for Consumer Loan Manager

  • Hire, train, evaluate, and discipline lending staff.
  • Develop and implement strategies to improve loan department efficiency and meet sales targets.
  • Supervise lenders processing loan applications, managework flow, and ensure compliance with regulations.
  • Generate new business through sales outreach.

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Consumer Loan Managers report a narrow range of specific skills. Most notably, facility with Consumer Loans and Loan Underwriting are correlated to pay that is significantly above average, leading to increases of 22 percent and 8 percent, respectively.

Pay by Experience Level for Consumer Loan Manager

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


The average worker who claims fewer than five years of experience earns around $45K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $58K. Consumer Loan Managers who work for 10 to 20 years in their occupation tend to earn about $56K. Consumer Loan Managers who surpass 20 years on the job report pay that isn't higher than those with 10 to 20 years.

Related Job Salaries

United States (change)

Experience Affects Consumer Loan Manager Salaries

Mid-Career
up arrow 6%

Experienced
up arrow 3%

Late-Career
up arrow 2%

National Average
$55,000

Entry-Level
up arrow 18%

Skills That Affect Consumer Loan Manager Salaries

Consumer Loans
up arrow 22%

Loan Underwriting
up arrow 8%

National Average
$55,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 17 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

Less than 1 year
3%
1-4 years
10%
5-9 years
25%
10-19 years
37%
20 years or more
25%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 74%
vision benefits Vision: 54% employee benefits None: 10%