Senior Loan Servicing Representative Salary

Senior Loan Servicing Representatives in the United States pull down an average of $48K per year. Medical benefits are awarded to almost all, and a large number earn dental coverage. Most Senior Loan Servicing Representatives report high levels of job satisfaction. Female Senior Loan Servicing Representatives make up most of the survey respondents at 70 percent. The numbers in this rundown were provided by PayScale's salary survey participants.
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$33,844 - $64,524
(Median)
$34K
$48K
$65K
MEDIAN: $48,401
10%
50%
90%

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$13.60 - $24.97
(Median)
$14
$19
$25
MEDIAN: $18.00
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$22K$44K$66K
Salary
$33,844 - $64,524  
   
Bonus
$0.00 - $5,872  
Profit Sharing
$2,146  
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).
)
$33,552 - $61,513  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 68
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$13$26$39
Hourly Rate
$13.60 - $24.97  
   
Overtime
$16.27 - $37.58  
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$26K$52K$78K
Bonus
$0.00 - $5,872  
   
Profit Sharing
$2,146  
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).
)
$33,552 - $61,513  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 44
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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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Senior Loan Servicing Representatives only report a few specific skills. Commercial Loans and Customer Service are considered valuable skills and can increase employee pay. Skills that are correlated to lower pay, on the other hand, include Customer Service.

Pay by Experience Level for Senior Loan Servicing Representative

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


More years of relevant experience do not necessarily translate to higher paychecks. People who have worked for fewer than five years earn around $42K, and folks with five to 10 years of experience see a modestly higher median of $44K. On average, Senior Loan Servicing Representatives make $47K following one to two decades on the job. After two decades in the workforce, the average Senior Loan Servicing Representative generally earns more than ever; median pay for this group is estimated at $50K.

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Experience Affects Senior Loan Servicing Representative Salaries

Late-Career
up arrow 9%

Experienced
up arrow 3%

National Average
$45,000

Mid-Career
up arrow 4%

Entry-Level
up arrow 6%

Skills That Affect Senior Loan Servicing Representative Salaries

Commercial Loans
up arrow 14%

National Average
$45,000

Customer Service
up arrow 15%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 20 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
1%
1-4 years
21%
5-9 years
32%
10-19 years
29%
20 years or more
17%

Common Health Benefits

medical benefits
Medical: 93%
dental benefits
Dental: 83%
medical benefits
Vision: 75%
dental benefits
None: 6%
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