Loan Administrator Salary

Earnings for Loan Administrators in the United States come in at around $47K annually on average. With some bonuses approaching $10K and certain profit sharing proceeds approaching $12K, overall incomes of Loan Administrators spread between $30K and $68K depending on individual performance. Geographic location is the biggest factor affecting pay for this group, followed by years of experience. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Job satisfaction is high and work is enjoyable for most Loan Administrators. Men are in the minority of survey respondents, with female Loan Administrators making up 77 percent. This report is based on answers to PayScale's salary questionnaire.
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$32,474 - $69,737
(Median)
$32K
$47K
$70K
MEDIAN: $47,457
10%
50%
90%

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$12.40 - $24.82
(Median)
$12
$17
$25
MEDIAN: $16.00
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$24K$48K$72K
Salary
$32,474 - $69,737  
   
Bonus
$0.00 - $9,895  
Profit Sharing
$354.79 - $12,122  
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).
)
$30,233 - $68,291  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 311
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$14$28$42
Hourly Rate
$12.40 - $24.82  
   
Overtime
$14.07 - $40.70  
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$28K$56K$84K
Bonus
$0.00 - $9,895  
   
Profit Sharing
$354.79 - $12,122  
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).
)
$30,233 - $68,291  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 141
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Job Description for Loan Administrator

There are many reasons individuals seek to procure loans, places one may go to find one, and different contexts in which loan processes are administered. Whatever the variables, most institutions which loan money typically employ a loan administrator to oversee the processes. Also known as a loan officer or a loan processor, these individuals are responsible for every aspect of the loan process, from meeting with prospective borrowers and hashing out terms to overseeing collection and processing of payments and ensuring that everything is handled within legal and regulatory boundaries.

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Loan Administrator Tasks

  • Develop and negotiate plans with borrowers.
  • Answer questions and interview applicants.
  • Assess loan applications and credit reports.
  • Maintain legal documentation and ensure accuracy.

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Popular Skills for Loan Administrator


Just a handful of professional skills are reported by Loan Administrators who took the survey. Most notably, skills in Commercial Loans, Loan Documents, Loan Processing, and Mortgage Loans are correlated to pay that is above average. Skills that seem to negatively impact pay include Mortgage Loans. For most people, competency in Commercial Loans indicates knowledge of Loan Processing.

Pay by Experience Level for Loan Administrator

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


For Loan Administrators, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. The average worker who claims fewer than five years of experience earns around $37K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $46K. Loan Administrators bring in $50K after working for 10 to 20 years. As Loan Administrators reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $56K.

Pay Difference by Location

National Average: $43,805

Larger city markers indicate a job is popular in that location.

Loan Administrators will find that San Francisco offers an impressive pay rate, one which exceeds the national average by 56 percent. Loan Administrators can also look forward to large paychecks in cities like San Diego (+41 percent), Philadelphia (+39 percent), Los Angeles (+25 percent), and New York (+25 percent). In Atlanta, salaries are 11 percent below the national average and represent the lowest-paying market.

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Experience Affects Loan Administrator Salaries




National Average
$44,000


Skills That Affect Loan Administrator Salaries


National Average
$44,000

Loan Documents
up arrow 1%

Loan Processing
up arrow 2%

Mortgage Loans
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 80 votes.

Gender

Female
77 %
Male
23 %

Years of Experience

Less than 1 year
3%
1-4 years
36%
5-9 years
26%
10-19 years
21%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 78%
medical benefits
Vision: 65%
dental benefits
None: 10%
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