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Senior Loan Servicing Representative Salary

Median pay for Senior Loan Servicing Representatives in the United States lies in the neighborhood of $48K annually. Women make up the majority of Senior Loan Servicing Representatives (66 percent) who completed the questionnaire. Nearly all report receiving medical coverage from their employers and most collect dental insurance. The majority of workers are highly satisfied with their job. This overview is based on answers to PayScale's salary questionnaire.
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$30,138 - $65,496
(Median)
$30K
$48K
$65K
MEDIAN: $47,765
10%
50%
90%

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$13.60 - $24.79
(Median)
$14
$19
$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 - $6,082  
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).
)
$31,809 - $62,096  
Country: United States | Currency: USD | Updated: 2 May 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
$13.60 - $24.79  
   
Overtime
$21.00 - $37.28  
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).
)
$31,809 - $62,096  
Country: United States | Currency: USD | Updated: 2 May 2015 | 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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Pay by Experience Level for Senior Loan Servicing Representative

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


Experience does not seem to be a strong driver of pay increase in this role. Salaries for inexperienced workers average out to $43K, and those with five to 10 years' experience earn a higher median of $41K. After working for 10 to 20 years, Senior Loan Servicing Representatives make a median salary of $47K. More than 20 years of experience mean a somewhat bigger median paycheck of $49K, but it's not much more than what less experienced people make.

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 7%

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
31%
10-19 years
28%
20 years or more
18%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 85%
vision benefits Vision: 78% employee benefits None: 4%
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