Loan Operations Specialist Salary

The average Loan Operations Specialist in the United States earns approximately $15.14 per hour. Experience level and the particular city each impact pay for this group, with the former having the largest influence. Most Loan Operations Specialists survey respondents are women (73 percent). A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. For the most part, people in this position report moderate levels of job satisfaction. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$28,823 - $56,761
(Median)
$29K
$40K
$57K
MEDIAN: $39,583
10%
50%
90%

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$11.58 - $20.46
(Median)
$12
$15
$20
MEDIAN: $15.00
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$19K$38K$57K
Salary
$28,823 - $56,761  
   
Bonus
$0.00 - $3,710  
Profit Sharing
$1,125  
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).
)
$26,291 - $52,261  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 178
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$11$22$33
Hourly Rate
$11.58 - $20.46  
   
Hourly Tips
$1.78  
Overtime
$17.82 - $32.44  
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$22K$44K$66K
Bonus
$0.00 - $3,710  
   
Profit Sharing
$1,125  
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).
)
$26,291 - $52,261  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 185
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Job Description for Loan Operations Specialist

  • Update and capture interactions and communications in software systems.
  • Communicate with lawyers, borrowers, agencies and other groups to facilitate loans or collections.
  • Process loan documentation, identifying and seeking missing paperwork or information.
  • Perform payments and adjust balances.

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Popular Skills for Loan Operations Specialist


Loan Operations Specialists report using a pretty varied skill set on the job. Most notably, facility with Commercial Loans and Consumer Loans are correlated to pay that is significantly above average, leading to increases of 39 percent and 4 percent, respectively. Skills that seem to negatively impact pay include Auditing. Most people who know Loan Documents also know Commercial Loans.

Pay by Experience Level for Loan Operations Specialist

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


Loan Operations Specialists do not generally earn higher incomes from more experience in the field. Those who have worked for fewer than five years take home a median salary of $33K, and workers with five to 10 years of experience earn a higher $37K on average. For Loan Operations Specialists, 10 to 20 years of experience on the job amounts to an average salary of $40K. Loan Operations Specialists who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $45K.

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Experience Affects Loan Operations Specialist Salaries

Late-Career
up arrow 26%

Experienced
up arrow 11%

Mid-Career
up arrow 4%

National Average
$36,000

Entry-Level
up arrow 8%

Skills That Affect Loan Operations Specialist Salaries

Commercial Loans
up arrow 39%

Consumer Loans
up arrow 4%

Loan Processing
up arrow 3%

Regulatory Compliance
up arrow 2%

Loan Documents
up arrow 1%

National Average
$36,000

General Ledger Accounting
up arrow 3%

Auditing
up arrow 12%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 40 votes.

Gender

Female
73 %
Male
27 %

Years of Experience

Less than 1 year
5%
1-4 years
42%
5-9 years
20%
10-19 years
25%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 75%
medical benefits
Vision: 64%
dental benefits
None: 13%
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