Loan Processing Manager Salary

Slightly less than three-fifths of Loan Processing Managers in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $30K to $85K per year, and the average comes out to $58K annually. Loan Processing Managers who responded to the questionnaire are largely women, dominating at 80 percent. While one-fifth report receiving no health benefits, a strong majority do receive medical coverage, and the greater part have dental, as well. For the most part, Loan Processing Managers enjoy their work and report high levels of job satisfaction. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.

$36,812 - $85,506
(Median)
$37K
$58K
$86K
MEDIAN: $58,388
10%
50%
90%

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$8.21 - $29.36
(Median)
$8
$16
$29
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$29K$58K$87K
Salary
$36,812 - $85,506  
   
Bonus
$494.93 - $20,203  
Profit Sharing
$1,965 - $5,087  
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).
)
$30,160 - $85,170  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 54
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$15$30$45
Hourly Rate
$8.21 - $29.36  
   
Overtime
$29.48 - $41.10  
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$30K$60K$90K
Bonus
$494.93 - $20,203  
   
Profit Sharing
$1,965 - $5,087  
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).
)
$30,160 - $85,170  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 12
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Job Description for Loan Processing Manager

  • Oversee budget and track metrics for profitability and repayment of different types of loans.
  • Train and oversee a team, providing assistance, training and clarification.
  • Determine loan processing, approval, and closure processes and guidelines.
  • Report on budget, technology, accounts, staff, and regulatory compliance.

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Pay by Experience Level for Loan Processing Manager

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


Loan Processing Managers who reported more years of relevant experience also reported higher earnings. Salaries for the relatively untried average out to around $40K, but survey participants with five to 10 years of experience earn a significantly higher median of $53K. The average pay reported by folks with 10 to 20 years of experience is around $64K. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $81K, which is substantially larger than the medians reported by folks with fewer years on their resumes.

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Experience Affects Loan Processing Manager Salaries

Late-Career
up arrow 38%

Experienced
up arrow 10%

National Average
$59,000

Mid-Career
up arrow 9%

Entry-Level
up arrow 31%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 17 votes.

Gender

Female
80 %
Male
20 %

Years of Experience

Less than 1 year
5%
1-4 years
15%
5-9 years
24%
10-19 years
41%
20 years or more
15%

Common Health Benefits

medical benefits Medical: 75% dental benefits Dental: 68%
vision benefits Vision: 52% employee benefits None: 21%
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