Loan Administrator Salary

Median pay for Loan Administrators in the United States is around $47K annually. In the world of Loan Administrators, overall income ranges from $30K near the bottom to $68K at the top; this can include more than $10K from bonuses and more than $12K from profit sharing in exceptional cases. Location is the biggest factor affecting pay for this group, followed by tenure. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. Most workers in this position report high levels of job satisfaction. Men are in the minority of survey respondents, with female Loan Administrators making up 78 percent. This snapshot results from replies to PayScale's salary survey.
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$32,936 - $69,791

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$12.11 - $25.67

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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
$32,936 - $69,791  
   
Bonus
$0.00 - $9,912  
Profit Sharing
$1,107 - $12,164  
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).
)
$29,846 - $68,121  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 276
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$16$32$48
Hourly Rate
$12.11 - $25.67  
   
Overtime
$18.12 - $45.73  
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$32K$64K$96K
Bonus
$0.00 - $9,912  
   
Profit Sharing
$1,107 - $12,164  
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).
)
$29,846 - $68,121  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 116
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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.

Loan Administrator Job Listings

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Popular Skills for Loan Administrator


Loan Administrators who responded to the survey report just a handful of professional skills. 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. 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 with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Survey participants with less than five years' experience pocket $38K on average, but those with five to 10 years of experience enjoy a much bigger median of $45K. On average, Loan Administrators make $50K following one to two decades on the job. People who have worked for more than 20 years report a median income of $55K, which is barely higher than the median for folks with 10 to 20 years of experience.

Pay Difference by Location


San Francisco is home to an above-average pay rate for Loan Administrators, 59 percent higher than the national average. Loan Administrators can also look forward to large paychecks in cities like San Diego (+41 percent), Philadelphia (+38 percent), Los Angeles (+28 percent), and New York (+26 percent). The smallest paychecks in the market, 11 percent south of the national average, can be found in Atlanta.

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Experience Affects Loan Administrator Salaries




National Average
$44,000


Skills That Affect Loan Administrator Salaries


Loan Documents
up arrow 1%

National Average
$44,000

Loan Processing
up arrow 3%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 74 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
3%
1-4 years
32%
5-9 years
28%
10-19 years
23%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 79%
vision benefits Vision: 65% employee benefits None: 11%
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