Loan Administrator Salary

The average Loan Administrator in the United States earns approximately $47K annually. Total cash compensation to Loan Administrators bottoms out near $30K and approaches $68K on the high end; the biggest paychecks include approximately $10K from bonuses and almost $12K from profit sharing. Residence is the biggest factor affecting pay for this group, followed by tenure. Most workers in this position report high levels of job satisfaction. Female Loan Administrators make up most of the survey respondents at 77 percent. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The numbers in this rundown were provided by PayScale's salary survey participants.
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$32,474 - $69,737
(Median)
$32K
$47K
$70K
MEDIAN: $47,457
10%
50%
90%

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$12.40 - $24.82
(Median)
$12
$17
$25
MEDIAN: $16.00
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$24K$48K$72K
Salary
$32,474 - $69,737  
   
Bonus
$0.00 - $9,895  
Profit Sharing
$354.79 - $12,122  
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).
)
$30,233 - $68,291  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 311
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
$12.40 - $24.82  
   
Overtime
$14.07 - $40.70  
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
$0.00 - $9,895  
   
Profit Sharing
$354.79 - $12,122  
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).
)
$30,233 - $68,291  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 141
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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.

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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 Documents, Loan Processing, and Mortgage Loans are correlated to pay that is above average. Skills that seem to negatively impact pay include Mortgage Loans. The majority of those 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.


For many Loan Administrators, extensive experience does not lead to significantly more money. Respondents with less than five years' experience take home $37K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $46K. The average pay reported by folks with 10 to 20 years of experience is around $50K. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $56K.

Pay Difference by Location

National Average: $43,805

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

San Francisco is home to an above-average pay rate for Loan Administrators, 56 percent higher than the national average. Loan Administrators can also look forward to large paychecks in cities like San Diego (+41 percent), Philadelphia (+39 percent), Los Angeles (+25 percent), and New York (+25 percent). Atlanta is home to the smallest salaries in the field, lagging the national average by 11 percent.

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Experience Affects Loan Administrator Salaries




National Average
$44,000


Skills That Affect Loan Administrator Salaries


National Average
$44,000

Loan Documents
up arrow 1%

Loan Processing
up arrow 2%

Mortgage Loans
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 80 votes.

Gender

Female
77 %
Male
23 %

Years of Experience

Less than 1 year
3%
1-4 years
36%
5-9 years
26%
10-19 years
21%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 78%
medical benefits
Vision: 65%
dental benefits
None: 10%
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