Loan Officer, Commercial Salary

The average salary for a Loan Officer, Commercial is $69,120 per year. Experience strongly influences pay for this job. A skill in Sales is associated with high pay for this job.

$44,855 - $110,284
$45K
$70K
$110K
MEDIAN: $70,049
10%
50%
90%

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$14.90 - $29.73
$15
$21
$30
MEDIAN: $21.28
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$50K$100K$150K
Salary
$44,855 - $110,284  
   
Bonus
$1,967 - $20,467  
Profit Sharing
$489.36 - $8,054  
Commission
$2,517 - $49,665  
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).
)
$44,824 - $121,091  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 424
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$25$50$75
Hourly Rate
$14.90 - $29.73  
   
Overtime
$26.00  
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$50K$100K$150K
Bonus
$1,967 - $20,467  
   
Commission
$2,517 - $49,665  
Profit Sharing
$489.36 - $8,054  
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).
)
$44,824 - $121,091  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 18

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Job Description for Loan Officer, Commercial

A commercial loan officer works with current business clients and individuals looking to start small businesses. Much of the loan officer's duties entail maintaining and administering these loan accounts for the bank, following standard procedures and protocols.

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Loan Officer, Commercial Tasks

  • Develop, maintain, and grow the commercial loan portfolio of private loan companies, government agencies, and non-profit organizations.
  • Solicit new business by developing marketing strategies.
  • Oversee handling of advances, payments, and wire transfers.
  • Negotiate credit terms, and prepare credit analysis and repayment plan for approvals.
  • Interview, consult, accept, analyze credit of, and perform credit reviews of potential borrowers.

Common Career Paths for Loan Officer, Commercial


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Loan Officer, Commercial Job Listings

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Popular Skills for Loan Officer, Commercial

Pay by Experience Level for Loan Officer, Commercial

Pay by Experience for a Loan Officer, Commercial has a positive trend. An entry-level Loan Officer, Commercial with less than 5 years of experience can expect to earn an average total compensation of $58,000 based on 178 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Officer, Commercial with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $76,000 based on 151 salaries. An experienced Loan Officer, Commercial which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $92,000 based on 126 salaries. A Loan Officer, Commercial with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $115,000 based on 57 salaries.

Pay Difference by Location

National Average: $73,968

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

Related Job Salaries

Key Stats for Loan Officer, Commercial

Gender

Female
20 %
Male
80 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 75 votes.
Less than 1 year
2%
1-4 years
30%
5-9 years
26%
10-19 years
27%
20 years or more
15%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Officer, Commercial Salaries

▲55%

▲24%

▲2%

National Average
$74,000

▼22%

Skills That Affect Loan Officer, Commercial Salaries

▲10%



National Average
$74,000



Commercial Loans
▼29%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 75 votes.

Gender

Female
20 %
Male
80 %

Years of Experience

Less than 1 year
2%
1-4 years
30%
5-9 years
26%
10-19 years
27%
20 years or more
15%

Common Health Benefits

medical benefits
Medical: 92%
dental benefits
Dental: 79%
vision benefits
Vision: 63%
no benefits
None: 7%
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