Mortgage Banker Salary (United States)

A Mortgage Banker earns an average salary of $42,500 per year. A skill in Sales is associated with high pay for this job. Most people with this job move on to other positions after 20 years in this career.
Mortgage Banker Total Pay (?
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.
)
$20,818 - $100,222
(Median)
21K
42K
64K
100K
MEDIAN: $42,500
10%
50%
75%
90%
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Mortgage Banker Total Pay (?
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.
)
$8.21 - $17.63
(Median)
8
9
14
18
MEDIAN: $10
10%
25%
75%
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$50K$100K$150K
Salary
$20,818 - $100,222  
   
Bonus
$0.00 - $58,958  
Commission
$9,123 - $107,510  
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).
)
$24,343 - $123,896  
PayScale
Country: United States | Currency: USD | Updated: 11 Jun 2014 | Individuals Reporting: 80
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
$8.21 - $17.63  
   
Overtime
$4.64 - $20.64  
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 - $58,958  
   
Commission
$9,123 - $107,510  
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).
)
$24,343 - $123,896  
PayScale
Country: United States | Currency: USD | Updated: 11 Jun 2014 | Individuals Reporting: 80
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Location:
United States (change)
Years in Field/Career:

Job Description for Mortgage Banker

  • Conduct sales calls and presentations on a regular basis.
  • Develop marketing tools to introduce products to realtors and potential borrowers.
  • Contact referrals and respond to referral sources.
  • Establish and maintain relationships with realtors, builders and other business sources.
  • Explore and develop new methods for attracting business.
Read more about: Loan Officers

Mortgage Banker Job Listings

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Popular Employer Salaries for Mortgage Banker

Pay by Experience Level for Mortgage Banker

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

Pay Difference By Location

Cleveland
up arrow 65%
National Average
$60,000
Detroit
up arrow 12%
Larger circles over a city indicate a job is popular in that location.

Related Job Salaries

Experience Affects Mortgage Banker Salaries

Late-Career
up arrow 58%
Mid-Career
up arrow 39%
Experienced
0%
National Average
$60,000
Entry-Level
up arrow 14%

Skills That Affect Mortgage Banker Salaries

Sales
up arrow 50%
National Average
$60,000
Mortgage Loans
up arrow 50%

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 7 votes.

Gender

Female
34%
female alumni
 
Male
66%
male alumni

Years of Experience

Less than 1 year
18%
1-4 years
40%
5-9 years
15%
10-19 years
21%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 78%
vision benefits Vision: 71% employee benefits None: 9%
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