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Senior Loan Servicing Representative Salary

The average Senior Loan Servicing Representative in the United States can expect to rake in roughly $48K annually. Medical benefits are awarded to nearly all, and most earn dental coverage. Most Senior Loan Servicing Representatives like their work and job satisfaction is high. There are more female Senior Loan Servicing Representatives who answered the questionnaire than male, making up 66 percent. This report is based on responses to the PayScale salary survey.
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$30,138 - $65,496
(Median)
$30K
$48K
$65K
MEDIAN: $47,765
10%
50%
90%

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$14.06 - $24.76
(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).
)
$31,866 - $62,007  
Country: United States | Currency: USD | Updated: 16 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
$14.06 - $24.76  
   
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).
)
$31,866 - $62,007  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 45
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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, more experience in the field does not usually mean bigger paychecks. The median compensation for relatively untried workers is $40K; in the five-to-10 year group, it's higher at around $43K. On average, Senior Loan Servicing Representatives make $47K following one to two decades on the job. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $49K.

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Experience Affects Senior Loan Servicing Representative Salaries

Late-Career
up arrow 12%

Experienced
up arrow 7%

National Average
$44,000

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
66 %
Male
34 %

Years of Experience

Less than 1 year
1%
1-4 years
24%
5-9 years
30%
10-19 years
28%
20 years or more
17%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 86%
vision benefits Vision: 78% employee benefits None: 4%
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