Loan Administrator Salary (United States)

Loan Administrators in the United States pull down an average of $42,926 annually. Compensation generally starts at $28,951 and does not exceed $68,832 per year. Cash earnings, including $9,964 each in bonuses and profit sharing proceeds near the top of the pay scale, stretch from approximately $30,910 to almost $70,816 depending on individual performance. Geographic location is the biggest factor affecting pay for this group, followed by career duration. Benefits are common in this line of work, with most reporting medical and dental coverage and a majority collecting vision insurance. Female Loan Administrators make up most of the field at 76 percent. The majority of Loan Administrators claim high levels of job satisfaction. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
Loan Administrator Salary (?
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.
)
$30,910 - $70,816
(Median)
31K
44K
56K
71K
MEDIAN: $44,422
10%
50%
75%
90%
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Loan Administrator Salary (?
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.
)
$11.84 - $26.44
(Median)
12
17
22
26
MEDIAN: $16.00
10%
50%
75%
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$24K$48K$72K
Salary
$30,910 - $70,816  
   
Bonus
$0.00 - $9,964  
Profit Sharing
$753 - $11,960  
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).
)
$28,951 - $68,832  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 291
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$16$32$48
Hourly Rate
$11.84 - $26.44  
   
Overtime
$18.06 - $46.91  
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$32K$64K$96K
Bonus
$0.00 - $9,964  
   
Profit Sharing
$753 - $11,960  
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).
)
$28,951 - $68,832  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 119
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United States (change)
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Job Description for Loan Administrator

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

Loan Administrator Job Listings

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Popular Skills for Loan Administrator

Survey takers who work as Loan Administrators usually report a few specific skills. Those who have experience with Commercial Loans can expect to be compensated well for these skills, typically earning 11 percent more than the national average, respectively. At the other end of the pay range are skills like Mortgage Loans. Most people skilled in Commercial Loans are similarly competent in Loan Processing.

Pay by Experience Level for Loan Administrator

Median of all compensation (including tips, bonus, and overtime) by years of experience.
Loan Administrators do not generally earn higher salaries from more experience in the field—in most many but not all cases, experience is not a driving force behind pay increase. Though starting salaries approximate $36K, they climb to $44K after five to 10 years. Those who spend a decent amount of time in this profession—one to two decades—usually make about $49K. After two decades on the job, Loan Administrators see salary growth dwindle, averaging $51K. Experienced employees who have 10-20 years of experience make up 23 percent of the workforce; inexperienced individuals who have been working for less than one year comprise less than five, and senior people with more than 20 years under their belt fill out the remaining 12 percent. In this field, workers tend to have anywhere from one to nine years of experience—of those surveyed, a majority land within this range.

Pay Difference By Location

San Francisco
up arrow 43%
Philadelphia
up arrow 41%
Chicago
up arrow 37%
Los Angeles
up arrow 36%
New York
up arrow 26%
Denver
up arrow 21%
Boston
up arrow 12%
National Average
$43,000
Atlanta
up arrow 2%
Larger circles over a city 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 43 percent. Also paying near the top of the field are Philadelphia, Chicago, Los Angeles, and New York, where Loan Administrators annually earn 41 percent, 37 percent, 36 percent, and 26 percent more than the national average. Falling short of the national average by 2 percent, the area with the worst salaries is Atlanta.

Related Job Salaries

Experience Affects Loan Administrator Salaries

National Average
$43,000

Skills That Affect Loan Administrator Salaries

Loan Documents
up arrow 2%
Loan Processing
0%
National Average
$43,000
Mortgage Loans
up arrow 3%

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 87 votes.

Gender

Female
76%
female alumni
 
Male
24%
male alumni

Years of Experience

Less than 1 year
4%
1-4 years
34%
5-9 years
26%
10-19 years
23%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 78%
vision benefits Vision: 65% employee benefits None: 8%
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