Senior Loan Officer Salary

A Senior Loan Officer earns an average salary of $60,660 per year. Skills that are associated with high pay for this job are People Management and Financial Analysis.

$36,947 - $120,036
$37K
$60K
$120K
MEDIAN: $60,187
10%
50%
90%

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$15.32 - $27.59
$15
$21
$28
MEDIAN: $21.43
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
$36,947 - $120,036  
   
Bonus
$983 - $35,000  
Profit Sharing
$0.00 - $19,866  
Commission
$1,825 - $101,014  
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).
)
$39,748 - $132,043  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 75
National Hourly Rate 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$25$50$75
Hourly Rate
$15.32 - $27.59  
   
Overtime
$28.50  
National Annualized 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
Bonus
$983 - $35,000  
   
Commission
$1,825 - $101,014  
Profit Sharing
$0.00 - $19,866  
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).
)
$39,748 - $132,043  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 22

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United States (change)

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Job Description for Senior Loan Officer

Senior loan officers work in financial institutions and often supervise the work of other loan officers. Because this is a senior position, at least a few years of experience as a loan officer are generally required, and sales goals and benchmarks may need to be met in this position.

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Senior Loan Officer Tasks

  • Solicit, originate, negotiate, underwrite, process, and coordinate the closing of consumer, residential, equipment, commercial building, and business loans.
  • Cultivate new lending opportunities in new markets.
  • Make recommendations to senior management to streamline lending practices and procedures.
  • Assist loan manager in determining the credit risk of the loan portfolio.
  • Analyze, verify, package, and submit loans.

Common Career Paths for Senior Loan Officer


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Senior Loan Officer Job Listings

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Pay by Experience Level for Senior Loan Officer

Pay by Experience for a Senior Loan Officer has a positive trend. An entry-level Senior Loan Officer with less than 5 years of experience can expect to earn an average total compensation of $41,000 based on 11 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Loan Officer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $58,000 based on 24 salaries. An experienced Senior Loan Officer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $61,000 based on 42 salaries. A Senior Loan Officer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $73,000 based on 40 salaries.

Related Job Salaries

Key Stats for Senior Loan Officer

Gender

Female
57 %
Male
43 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 15 votes.
1-4 years
11%
5-9 years
10%
10-19 years
37%
20 years or more
41%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Senior Loan Officer Salaries

▲23%

▲2%

National Average
$60,000

▼2%

▼32%

Skills That Affect Senior Loan Officer Salaries

People Management
▲168%


National Average
$60,000


Customer Relations
▼21%

Mortgage Loans
▼25%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 15 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

1-4 years
11%
5-9 years
10%
10-19 years
37%
20 years or more
41%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 76%
vision benefits
Vision: 63%
no benefits
None: 7%
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