Consumer Loan Manager Salary
Consumer Loan Managers in the United States with more than 10 years of experience in their profession represent close to three-fifths of Consumer Loan Managers. Salaries average out to around $67K per year and spread from $41K to $88K per year. The majority of Consumer Loan Managers claim high levels of job satisfaction. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Men working as Consumer Loan Managers who took the survey just slightly outnumber women at 55 percent.
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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Pay by Experience Level for Consumer Loan Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Consumer Loan Managers with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Workers with less than five years' experience earn around $57K on average, and those who have five to 10 years under their belts see a higher median salary of $62K. After working for 10 to 20 years, Consumer Loan Managers make a median salary of $69K. Consumer Loan Managers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $75K on average.