Senior Loan Servicing Representative Salary

An average Senior Loan Servicing Representative in the United States can expect to take home roughly $19.95 per hour. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Men are in the minority of survey respondents, with female Senior Loan Servicing Representatives making up 74 percent. Work is enjoyable for Senior Loan Servicing Representatives, who typically claim high levels of job satisfaction. The numbers in this rundown were provided by PayScale's salary survey participants.
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$38,156 - $80,366
$38K
$54K
$80K
MEDIAN: $53,650
10%
50%
90%

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$16.62 - $28.60
$17
$20
$29
MEDIAN: $19.95
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$27K$54K$81K
Salary
$38,156 - $80,366  
   
Bonus
$1,014 - $9,863  
Profit Sharing
$3,750  
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).
)
$35,668 - $67,665  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 38
© PayScale, Inc. @ www.payscale.com
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$15$30$45
Hourly Rate
$16.62 - $28.60  
   
Overtime
$28.58 - $43.77  
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$30K$60K$90K
Bonus
$1,014 - $9,863  
   
Profit Sharing
$3,750  
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).
)
$35,668 - $67,665  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 40
© PayScale, Inc. @ www.payscale.com

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Job Description for Senior Loan Servicing Representative

Senior loan-servicing representatives are primarily responsible for providing customer service to clients seeking loans from a bank or financial institution. These representatives generally work in indoor office environments during regular business hours, though extended hours may be required depending on the employer.

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Senior Loan Servicing Representative Tasks

  • Assist in activities required to maintain loan servicing systems subsequent to loan closings.
  • Process commercial participation loan transactions.
  • Analyze loan accounting system reports, research errors on loan accounts and process adjusting entries.
  • Enter information into the general ledger system, review work for accuracy and perform reconciliations.

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Pay by Experience Level for Senior Loan Servicing Representative

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


Those who have worked for fewer than five years take home a median salary of $44K, and workers with five to 10 years of experience report earning less ($43K) on average. Senior Loan Servicing Representatives who work for 10 to 20 years in their occupation tend to earn about $46K. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $52K, which is substantially larger than the medians reported by folks with fewer years on their resumes.

Related Job Salaries

Key Stats for Senior Loan Servicing Representative

Gender

Female
74 %
Male
26 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 16 votes.
Less than 1 year
1%
1-4 years
13%
5-9 years
24%
10-19 years
36%
20 years or more
26%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Senior Loan Servicing Representative Salaries

Late-Career
▲13%

National Average
$46,000

Experienced
▼1%

Entry-Level
▼6%

Mid-Career
▼7%

Skills That Affect Senior Loan Servicing Representative Salaries

Commercial Loans
▲12%

National Average
$46,000

Customer Service
▼14%

Job Satisfaction

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

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
1%
1-4 years
13%
5-9 years
24%
10-19 years
36%
20 years or more
26%

Common Health Benefits

medical benefits
Medical: 81%
dental benefits
Dental: 72%
vision benefits
Vision: 61%
dental benefits
None: 17%
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