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Loan Operations Specialist Salary

Loan Operations Specialists in the United States can expect only a modest salary, with average pay of just $38K per year. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Job satisfaction for Loan Operations Specialists is high. Participants in PayScale's salary questionnaire provided the particulars of this report.

$28,037 - $55,644
(Median)
$28K
$38K
$56K
MEDIAN: $37,810
10%
50%
90%

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$11.32 - $20.83
(Median)
$11
$15
$21
MEDIAN: $15.00
10%
50%
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
$28,037 - $55,644  
   
Bonus
$0.00 - $3,027  
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).
)
$25,801 - $51,161  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 171
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
$11.32 - $20.83  
   
Overtime
$17.64 - $32.02  
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 - $3,027  
   
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).
)
$25,801 - $51,161  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 146

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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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Survey results suggest that Loan Operations Specialists put a wide range of professional skills to use. Most notably, facility with Commercial Loans, Loan Processing, and Loan Documents are correlated to pay that is significantly above average, leading to increases of 37 percent, 7 percent, and 5 percent, respectively. Skills that seem to negatively impact pay include Auditing, Regulatory Compliance, and General Ledger Accounting. Experience with Loan Documents is often linked with knowledge of Loan Processing.

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. Workers in their first five years can expect to earn $33K, but people who have been around for five to 10 years earn a noticeably bigger sum of $38K. Loan Operations Specialists bring in $40K after working for 10 to 20 years. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a Loan Operations Specialist with more than 20 years of experience can earn $45K on average.

Related Job Salaries

United States (change)

Experience Affects Loan Operations Specialist Salaries

Late-Career
up arrow 26%

Experienced
up arrow 11%

Mid-Career
up arrow 6%

National Average
$36,000

Entry-Level
up arrow 8%

Skills That Affect Loan Operations Specialist Salaries

Commercial Loans
up arrow 37%



National Average
$36,000

General Ledger Accounting
up arrow 3%

Regulatory Compliance
up arrow 9%

Auditing
up arrow 11%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 48 votes.

Gender

Female
69 %
Male
31 %

Years of Experience

Less than 1 year
5%
1-4 years
40%
5-9 years
21%
10-19 years
24%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 77%
vision benefits Vision: 64% employee benefits None: 11%