Loan Administrator Salary

Loan Administrators in the United States pull down an average of $48K annually. Experience level is the biggest factor affecting pay for this group, followed by geography. Female Loan Administrators make up most of the survey respondents at 77 percent. Medical benefits are awarded to nearly all, and most earn dental coverage. Work is enjoyable for Loan Administrators, who typically claim high levels of job satisfaction. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
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$32,272 - $73,148
$32K
$48K
$73K
MEDIAN: $47,923
10%
50%
90%

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$12.64 - $23.65
$13
$17
$24
MEDIAN: $17.43
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$25K$50K$75K
Salary
$32,272 - $73,148  
   
Bonus
$979 - $9,899  
Profit Sharing
$1,700  
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).
)
$31,004 - $68,655  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 183
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
$12.64 - $23.65  
   
Overtime
$20.20 - $40.00  
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
$979 - $9,899  
   
Profit Sharing
$1,700  
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).
)
$31,004 - $68,655  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 100

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United States (change)

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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

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

Loan Administrator Job Listings

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Popular Skills for Loan Administrator


Loan Administrators report a narrow range of specific skills. Most notably, skills in Commercial Loans, Mortgage Loans, Loan Processing, and Loan Documents are correlated to pay that is above average. Skills that pay less than market rate include Loan Documents and Loan Processing. It is often found that people who know Loan Documents are also skilled in Commercial Loans.

Pay by Experience Level for Loan Administrator

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


Experience seems to be a major factor in determining the incomes of Loan Administrators. Folks with fewer than five years of experience take home $39K on average, and those who have worked for five to 10 years see a bigger median salary of $45K. Loan Administrators claiming one to two decades of experience make an estimated median of $49K. Survey participants who have worked for more than two decades report bringing in $61K on average.

Pay Difference by Location

National Average: $43,541

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

Surpassing the national average by 42 percent, Loan Administrators in San Diego receive some of the highest pay in the country. Loan Administrators can also look forward to large paychecks in cities like Philadelphia (+39 percent), Boston (+37 percent), San Francisco (+37 percent), and Dallas (+26 percent). Atlanta is home to the smallest salaries in the field, lagging the national average by 10 percent.

Related Job Salaries

Key Stats for Loan Administrator

Gender

Female
77 %
Male
23 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 43 votes.
Less than 1 year
2%
1-4 years
40%
5-9 years
19%
10-19 years
23%
20 years or more
15%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Administrator Salaries

▲41%

▲12%

▲4%

National Average
$44,000

▼12%

Skills That Affect Loan Administrator Salaries


National Average
$44,000




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 43 votes.

Gender

Female
77 %
Male
23 %

Years of Experience

Less than 1 year
2%
1-4 years
40%
5-9 years
19%
10-19 years
23%
20 years or more
15%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 82%
vision benefits
Vision: 66%
dental benefits
None: 7%
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