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.