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Senior Loan Servicing Representative Salary

Senior Loan Servicing Representatives in the United States take home an average $48K annually. Medical benefits are awarded to nearly all, and most earn dental coverage. The majority of Senior Loan Servicing Representatives (66 percent) who took the survey are female. Most workers in this position report high levels of job satisfaction. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$30,138 - $65,496
(Median)
$30K
$48K
$65K
MEDIAN: $47,769
10%
50%
90%

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$13.00 - $24.51
(Median)
$13
$18
$25
MEDIAN: $18.00
10%
50%
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$22K$44K$66K
Salary
$30,138 - $65,496  
   
Bonus
$0.00 - $6,040  
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).
)
$31,694 - $62,232  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 64
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$13$26$39
Hourly Rate
$13.00 - $24.51  
   
Overtime
$20.71 - $37.58  
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$26K$52K$78K
Bonus
$0.00 - $6,040  
   
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).
)
$31,694 - $62,232  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 42

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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

  • 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.
  • Assist in activities required to maintain loan servicing systems subsequent to loan closings.
  • Process commercial participation loan transactions.

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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.


Experience and pay tend to be weakly linked for Senior Loan Servicing Representatives — those with more experience do not necessarily bring in higher earnings. Relatively untried employees who have fewer than five years of experience earn around $40K on average. People who have worked for five to 10 years can expect a higher median salary of $43K. For Senior Loan Servicing Representatives, 10 to 20 years of experience on the job amounts to an average salary of $47K. Senior Loan Servicing Representatives who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $49K on average.

Related Job Salaries

United States (change)

Experience Affects Senior Loan Servicing Representative Salaries

Late-Career
up arrow 11%

Experienced
up arrow 7%

National Average
$44,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 9%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 16 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
1%
1-4 years
23%
5-9 years
32%
10-19 years
27%
20 years or more
17%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 87%
vision benefits Vision: 75% employee benefits None: 4%