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Loan Administrator Salary

For Loan Administrators, annual average wages total $45K per year. With some bonuses approaching $10K and certain profit sharing proceeds approaching $12K, overall incomes of Loan Administrators spread between $29K and $68K depending on individual performance. Geographic location and career length each impact pay for this group, with the former having the largest influence. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Job satisfaction is high and work is enjoyable for most Loan Administrators. Men are in the minority of survey respondents, with female Loan Administrators making up 77 percent. The information for this snapshot was generated by responses to the PayScale salary survey.
$30,829 - $69,846
(Median)
31K
37K
45K
57K
70K
MEDIAN: $45,185
10%
25%
50%
75%
90%

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$12.30 - $27.45
(Median)
12
17
22
27
MEDIAN: $17.00
10%
50%
75%
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
$30,829 - $69,846  
   
Bonus
$0.00 - $9,863  
Profit Sharing
$753 - $11,960  
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).
)
$29,217 - $68,277  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 283
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
$12.30 - $27.45  
   
Overtime
$18.37 - $45.57  
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 - $9,863  
   
Profit Sharing
$753 - $11,960  
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).
)
$29,217 - $68,277  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 111
United States (change)

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


Survey takers who work as Loan Administrators usually report a few specific skills. Most notably, skills in Commercial Loans, Loan Documents, Loan Processing, and Mortgage Loans are correlated to pay that is above average. 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 and pay tend to be weakly linked for Loan Administrators — those with more experience do not necessarily bring in higher earnings. The average beginner in this position makes around $37K, but folks who have been around for five to 10 years see a markedly higher median salary of $45K. After working for 10 to 20 years, Loan Administrators make a median salary of $50K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $55K.

Related Job Salaries

Experience Affects Loan Administrator Salaries




National Average
$43,000


Skills That Affect Loan Administrator Salaries


Loan Documents
up arrow 3%

Loan Processing
0%

National Average
$43,000

Mortgage Loans
up arrow 2%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 78 votes.

Gender

Female
77 %
Male
23 %

Years of Experience

Less than 1 year
4%
1-4 years
34%
5-9 years
27%
10-19 years
23%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 79%
vision benefits Vision: 65% employee benefits None: 8%