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Loan Operations Specialist Salary (United States)

Average Loan Operations Specialists in the United States make around $15.38 per hour. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Most Loan Operations Specialists survey respondents are women (71 percent). For the most part, people in this position report moderate levels of job satisfaction. Respondents to the PayScale salary survey provided the data for this report.
Loan Operations Specialist Salary (?
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.
)
$28,634 - $54,616
(Median)
29K
38K
47K
55K
MEDIAN: $37,988
10%
50%
75%
90%
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Loan Operations Specialist Salary (?
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.
)
$11.22 - $20.66
(Median)
11
13
15
18
21
MEDIAN: $15.00
10%
25%
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$19K$38K$57K
Salary
$28,634 - $54,616  
   
Bonus
$0.00 - $3,048  
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).
)
$25,397 - $51,397  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 132
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$11$22$33
Hourly Rate
$11.22 - $20.66  
   
Overtime
$17.34 - $32.69  
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$22K$44K$66K
Bonus
$0.00 - $3,048  
   
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).
)
$25,397 - $51,397  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 134
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Years in Field/Career:
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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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Just a handful of professional skills are reported by Loan Operations Specialists who took the survey. Most notably, facility with Commercial Loans, Loan Processing, and Loan Documents are correlated to pay that is significantly above average, leading to increases of 38 percent, 6 percent, and 5 percent, respectively. Loan Documents and Loan Processing are also commonly seen together.

Pay by Experience Level for Loan Operations Specialist

Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Loan Operations Specialists, experience does not seem to be a major factor in determining pay. Average salaries for inexperienced employees average out to around $33K, but folks who have five to 10 years of experience earn a higher median of $37K. After working for 10 to 20 years, Loan Operations Specialists make a median salary of $38K. In the end, more experience does seem to mean larger paychecks; seasoned Loan Operations Specialists with more than 20 years of experience earn a predictably higher median salary of $44K.

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Experience Affects Loan Operations Specialist Salaries

Late-Career
up arrow 25%
Experienced
up arrow 8%
Mid-Career
up arrow 5%
National Average
$35,000
Entry-Level
up arrow 7%

Skills That Affect Loan Operations Specialist Salaries

Commercial Loans
up arrow 38%
National Average
$35,000

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 43 votes.

Gender

Female
71%
female alumni
 
Male
29%
male alumni

Years of Experience

Less than 1 year
5%
1-4 years
39%
5-9 years
22%
10-19 years
24%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 75%
vision benefits Vision: 62% employee benefits None: 12%