Loan Review Officer Salary

Slightly more than half of Loan Review Officers in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $35K to $116K per year, and the average comes out to $71K per year. Job satisfaction is reported as high by the vast majority of workers. Female Loan Review Officers make up most of the survey respondents at 71 percent. Medical benefits are awarded to almost all, and a large number earn dental coverage.

$38,787 - $107,515
(Median)
$39K
$71K
$110K
MEDIAN: $70,801
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$50K$100K$150K
Salary
$38,787 - $107,515  
   
Bonus
$0.00 - $19,937  
Profit Sharing
$5,000  
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).
)
$34,944 - $115,886  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 75
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Job Description for Loan Review Officer

  • 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.

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Pay by Experience Level for Loan Review Officer

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


Folks with fewer than five years of experience take home $54K on average, and those who have worked for five to 10 years see a bigger median salary of $56K. Loan Review Officers claiming one to two decades of experience make an estimated median of $80K. Survey participants with more than two decades under their belts actually report earning less than people with less experience; the former take home only $78K on average.

Loan Review Officer Reviews

What is it like working as a Loan Review Officer?

Loan Review Officer in Eugene:
"Work flexibility."
Pros: As a loan review officer I like that I'm helping my company to reduce risk and identify problem loans early. The work is flexible and gives me the opportunity to take on other responsibilities and projects. With the ALLR management, I like to be a part of analyzing and establishing loss rates for current and future loans to also help my company minimize risk.
Cons: Loan review officer can get mundane reading loan after loan. I do have to remind myself that I'm helping the greater good of the bank. Sometimes I'm also not the most favorite person in the bank if I need to downgrade a loan or point out problems in loan approvals to loan officers. ALLR management is getting more and more difficult in justifying the current levels of reserves. Q & E factors are a challenge; examiners want you to quantify a subjective (per guidance) process, but the more you quantify, the less subjective it gets and they want support for the quantification. It's a thin like to walk to maintain subjectivity and some flexibility in management's decisions, but to quantify enough to satisfy examiners.

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Experience Affects Loan Review Officer Salaries

Experienced
up arrow 20%

Late-Career
up arrow 16%

National Average
$67,000

Mid-Career
up arrow 17%

Entry-Level
up arrow 20%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 16 votes.

Gender

Female
71 %
Male
29 %

Years of Experience

Less than 1 year
2%
1-4 years
13%
5-9 years
33%
10-19 years
28%
20 years or more
24%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 83%
medical benefits
Vision: 63%
dental benefits
None: 7%
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