Loan Administrator Salary

The average Loan Administrator in the United States can expect to rake in roughly $46K annually. Career duration is the biggest factor affecting pay for this group, followed by geography. Medical benefits are awarded to most, and a large number earn dental coverage. Men are in the minority of survey respondents, with female Loan Administrators making up 76 percent. Most Loan Administrators like their work and job satisfaction is high. This snapshot results from replies to PayScale's salary survey.
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$32,372 - $72,175
$32K
$46K
$72K
MEDIAN: $46,341
10%
50%
90%

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$13.35 - $24.33
$13
$18
$24
MEDIAN: $18.15
10%
50%
90%

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$0$72K
Salary $32,372 - $72,175
Bonus $970 - $8,109
Profit Sharing $1,900
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).
)
$31,209 - $68,687
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 175
Hourly Data $0$45
Hourly Rate $13.35 - $24.33
Overtime $20.78 - $45.93
Annual Data $0$68K
Bonus $970 - $8,109
Profit Sharing $1,900
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).
)
$31,209 - $68,687
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 104

Find Out Exactly What You Should Be Paid

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

Popular Skills for Loan Administrator


Just a handful of professional skills are reported by Loan Administrators who took the survey. Most notably, skills in Commercial Loans, Loan Processing, Loan Documents, and Mortgage Loans are correlated to pay that is above average. Skills that pay less than market rate include Mortgage Loans, Loan Documents, and Loan Processing. Those educated in Loan Documents tend to be well versed in Commercial Loans.

Pay by Experience Level for Loan Administrator

Pay by Experience for a Loan Administrator has a positive trend. An entry-level Loan Administrator with less than 5 years of experience can expect to earn an average total compensation of $38,000 based on 144 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Administrator with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $46,000 based on 76 salaries. An experienced Loan Administrator which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $48,000 based on 73 salaries. A Loan Administrator with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $64,000 based on 41 salaries.

Pay Difference by Location

National Average: $43,863

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

For Loan Administrators, working in the bustling city of San Diego has its advantages, including an above-average pay rate. Loan Administrators can also look forward to large paychecks in cities like Philadelphia (+38 percent), Boston (+36 percent), San Francisco (+36 percent), and Dallas (+25 percent). Atlanta is home to the smallest salaries in the field, lagging the national average by 11 percent.

Related Job Salaries

Key Stats for Loan Administrator

Gender

Female
76 %
Male
24 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 41 votes.
Less than 1 year
3%
1-4 years
42%
5-9 years
19%
10-19 years
22%
20 years or more
14%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Administrator Salaries

▲46%

▲9%

▲6%

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 41 votes.

Gender

Female
76 %
Male
24 %

Years of Experience

Less than 1 year
3%
1-4 years
42%
5-9 years
19%
10-19 years
22%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 81%
vision benefits
Vision: 67%
no benefits
None: 7%
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