Senior Loan Servicing Representative Salary

Median pay for Senior Loan Servicing Representatives in the United States lies in the neighborhood of $47K per year. Work is enjoyable for Senior Loan Servicing Representatives, who typically claim high levels of job satisfaction. Almost all enjoy medical while a large number get dental coverage. Vision coverage is also available to a fair number. The majority of Senior Loan Servicing Representatives (67 percent) who took the survey are women. Respondents to the PayScale salary survey provided the data for this report.
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$30,059 - $64,619
(Median)
$30K
$47K
$65K
MEDIAN: $47,313
10%
50%
90%

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$14.30 - $24.69
(Median)
$14
$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
$30,059 - $64,619  
   
Bonus
$0.00 - $6,082  
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).
)
$31,569 - $61,492  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 68
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
$14.30 - $24.69  
   
Overtime
$21.14 - $37.11  
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 - $6,082  
   
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).
)
$31,569 - $61,492  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 47
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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.


For Senior Loan Servicing Representatives, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. The average inexperienced worker earns $40K, and someone who has worked for five to 10 years can expect a bigger median salary of $42K. People with 10 to 20 years of experience make an average of about $46K in this role. Senior Loan Servicing Representatives with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $49K.

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Experience Affects Senior Loan Servicing Representative Salaries

Late-Career
up arrow 13%

Experienced
up arrow 6%

National Average
$43,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 17 votes.

Gender

Female
67 %
Male
33 %

Years of Experience

Less than 1 year
1%
1-4 years
23%
5-9 years
29%
10-19 years
29%
20 years or more
18%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 87%
vision benefits Vision: 77% employee benefits None: 4%
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