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Loan Originator Salary

A Loan Originator earns an average salary of $40,613 per year. Pay for this job rises steadily for more experienced workers, but goes down noticeably for the few employees with more than 20 years' experience. Most people move on to other jobs if they have more than 20 years' experience in this field.
$20,367 - $97,170
(Median)
20K
41K
58K
97K
MEDIAN: $40,612
10%
50%
75%
90%

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$8.54 - $19.83
(Median)
8
12
15
18
MEDIAN: $15.00
10%
25%
50%
75%

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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$50K$100K$150K
Salary
$20,367 - $97,170  
   
Bonus
$0.00 - $30,410  
Commission
$4,894 - $103,042  
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).
)
$23,294 - $119,760  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 116
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$25$50$75
Hourly Rate
$8.54 - $19.83  
   
Overtime
$4.21 - $30.72  
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$50K$100K$150K
Bonus
$0.00 - $30,410  
   
Commission
$4,894 - $103,042  
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).
)
$23,294 - $119,760  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 28
United States (change)

Job Description for Loan Originator

  • Track and maintain credit and loan data.
  • Work directly with clients to review agreements, explain programs, and negotiate loans and terms.
  • Obtain and compile financial information to evaluate loan applications and their risk.
  • Generate new clients and referrals through strong relationship building.

Loan Officer Job Listings

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Pay by Experience Level for Loan Originator

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

Related Job Salaries

Experience Affects Loan Originator Salaries

Experienced
up arrow 30%

Mid-Career
up arrow 24%

Late-Career
up arrow 17%

National Average
$46,000

Entry-Level
up arrow 13%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 19 votes.

Gender

Female
60 %
Male
40 %

Years of Experience

Less than 1 year
13%
1-4 years
43%
5-9 years
14%
10-19 years
22%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 79% dental benefits Dental: 63%
vision benefits Vision: 50% employee benefits None: 18%