Loan Review Officer Salary

A little 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 $33K to $113K per year, and the average comes out to $70K per year. Most Loan Review Officers survey respondents are women (73 percent). A large number enjoy medical while most get dental coverage. Vision coverage is also available to more than half. The majority of workers are highly satisfied with their job. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$35,497 - $105,060

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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.
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$0$50K$100K$150K
Salary
$35,497 - $105,060  
   
Bonus
$0.00 - $15,205  
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).
)
$33,351 - $113,476  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 71
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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.


Experience and pay tend to be weakly linked for Loan Review Officers — those with more experience do not necessarily bring in higher earnings. Folks with fewer than five years of experience take home $52K on average, and those who have worked for five to 10 years see a bigger median salary of $54K. For Loan Review Officers, 10 to 20 years of experience on the job amounts to an average salary of $77K. Veterans who have surpassed the 20-year mark may make no more than those who are navigating the mid-career stage.

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

Late-Career
up arrow 16%

Experienced
up arrow 15%

National Average
$66,000

Mid-Career
up arrow 18%

Entry-Level
up arrow 22%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 17 votes.

Gender

Female
73 %
Male
27 %

Years of Experience

Less than 1 year
1%
1-4 years
10%
5-9 years
35%
10-19 years
29%
20 years or more
24%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 81%
vision benefits Vision: 63% employee benefits None: 9%
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