Loan Administrator Salary

The average Loan Administrator in the United States can expect to rake in roughly $47K annually. In the world of Loan Administrators, overall cash allowance can occasionally include more than $10K from bonuses and, in some exceptional cases, $12K from profit sharing, causing incomes to vary widely between $29K and $68K. Geography is the biggest factor affecting pay for this group, followed by experience level. Medical benefits are awarded to most, and a strong majority earn dental coverage. Most workers in this position report high levels of job satisfaction. This overview is based on answers to PayScale's salary questionnaire.
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$32,389 - $69,146
(Median)
$32K
$47K
$69K
MEDIAN: $46,569
10%
50%
90%

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$12.09 - $25.82
(Median)
$12
$17
$26
MEDIAN: $16.00
10%
50%
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
$32,389 - $69,146  
   
Bonus
$0.00 - $9,635  
Profit Sharing
$745 - $12,080  
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).
)
$29,434 - $67,712  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 278
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
$12.09 - $25.82  
   
Overtime
$18.06 - $45.73  
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 - $9,635  
   
Profit Sharing
$745 - $12,080  
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).
)
$29,434 - $67,712  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 114
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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 report a focused set of job 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 who know Commercial Loans also know Loan Processing.

Pay by Experience Level for Loan Administrator

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


Experience does not seem to be a strong driver of pay increase in this role. Although individuals who have less than five years' experience earn $37K on average, people with five to 10 years benefit from a notably larger average of $45K. People with 10 to 20 years of experience make an average of about $50K in this role. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $55K.

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Experience Affects Loan Administrator Salaries




National Average
$44,000


Skills That Affect Loan Administrator Salaries


Loan Documents
up arrow 2%

National Average
$44,000

Loan Processing
up arrow 2%

Mortgage Loans
up arrow 7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 75 votes.

Gender

Female
79 %
Male
21 %

Years of Experience

Less than 1 year
3%
1-4 years
32%
5-9 years
28%
10-19 years
24%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 78%
vision benefits Vision: 65% employee benefits None: 11%
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