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Consumer Loan Manager Salary

Nearly three in five of Consumer Loan Managers in the United States have been in the field for more than 10 years. Pay can fall anywhere from $34K to $83K per year, but median earnings come to around $56K per year. Women make up a slight majority of Consumer Loan Managers (58 percent) survey respondents. Most workers in this position report high levels of job satisfaction. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a majority. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$38,937 - $81,329
(Median)
$39K
$56K
$81K
MEDIAN: $55,960
10%
50%
90%

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$11.25 - $24.18
(Median)
$11
$15
$24
MEDIAN: $15.00
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
$38,937 - $81,329  
   
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).
)
$34,426 - $83,405  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 104
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
$11.25 - $24.18  
   
Overtime
$10.88 - $35.66  
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).
)
$34,426 - $83,405  
Country: United States | Currency: USD | Updated: 16 May 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 usually report a few specific skills. Most notably, facility with Consumer Loans and Loan Underwriting are correlated to pay that is significantly above average, leading to increases of 21 percent and 7 percent, respectively.

Pay by Experience Level for Consumer Loan Manager

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


Respondents with less than five years' experience take home $45K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $59K. Consumer Loan Managers claiming one to two decades of experience make an estimated median of $55K. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $59K, which is substantially larger than the medians reported by folks with fewer years on their resumes.

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Experience Affects Consumer Loan Manager Salaries

Mid-Career
up arrow 6%

Late-Career
up arrow 6%

National Average
$55,000

Experienced
up arrow 1%

Entry-Level
up arrow 19%

Skills That Affect Consumer Loan Manager Salaries

Consumer Loans
up arrow 21%

Loan Underwriting
up arrow 7%

National Average
$55,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 16 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
3%
1-4 years
11%
5-9 years
25%
10-19 years
36%
20 years or more
25%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 73%
vision benefits Vision: 56% employee benefits None: 10%
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