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Mortgage Banker Salary (United States)

A Mortgage Banker earns an average salary of $42,000 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 Salary (?
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.
)
$20,623 - $102,789
(Median)
21K
42K
63K
100K
MEDIAN: $42,000
10%
50%
75%
90%
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Mortgage Banker Salary (?
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.
)
$8.93 - $18.33
(Median)
8
14
18
MEDIAN: $11.00
10%
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$60K$120K$180K
Salary
$20,623 - $102,789  
   
Bonus
$0.00 - $57,812  
Commission
$8,940 - $156,040  
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).
)
$25,383 - $135,893  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 89
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$30$60$90
Hourly Rate
$8.93 - $18.33  
   
Overtime
$4.66 - $45.02  
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$60K$120K$180K
Bonus
$0.00 - $57,812  
   
Commission
$8,940 - $156,040  
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).
)
$25,383 - $135,893  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 16
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Job Description for Mortgage Banker

Mortgage bankers work for financial companies which provide mortgage loans to businesses and individuals. These bankers serve as liasons between customers or real estate agents and the banking institution, and generally assist customers and agents throughout loan processes, from application to closing. Another area of focus is obtaining pre-qualification for clients and encouraging them to apply for loans, so it is important to be customer-oriented and have strong social and communication skills.
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Mortgage Banker Tasks
  • 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.

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 98%
Chicago
up arrow 9%
National Average
$55,000
Detroit
up arrow 9%
Larger circles over a city indicate a job is popular in that location.

Related Job Salaries

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Experience Affects Mortgage Banker Salaries

Late-Career
up arrow 72%
Mid-Career
up arrow 27%
Experienced
up arrow 4%
National Average
$55,000
Entry-Level
up arrow 7%

Skills That Affect Mortgage Banker Salaries

Sales
up arrow 45%
National Average
$55,000
Mortgage Loans
up arrow 45%

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 14 votes.

Gender

Female
30%
female alumni
 
Male
70%
male alumni

Years of Experience

Less than 1 year
16%
1-4 years
40%
5-9 years
14%
10-19 years
23%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 78%
vision benefits Vision: 71% employee benefits None: 7%