Vice President (VP), Commercial Lending Salary
|Salary||$72,693 - $131,484|
|Bonus||$3,945 - $34,254|
|Profit Sharing||$817 - $10,766|
|Commission||$1,216 - $44,385|
|Total Pay (||$74,307 - $158,002|
Job Description for Vice President (VP), Commercial Lending
Vice president (VP) of commercial lending positions are available at banks and similar institutions. They work within the institution's market to find key loan-providing opportunities that fit the goals and requirements of the bank. Daily tasks include analyzing a wide variety of financial statements, structuring loan terms and fees, approving or recommending loans, counseling potential borrowers financially, and conducting presentations with senior management staff. All of these tasks help establish a high standard of credit quality and strong commercial portfolio on behalf of the bank, which may also require working with collection staff for delinquent accounts.Read More...
Work for this position occurs in an indoor office environment, but some travel or teleconferencing may also be necessary depending on the company’s structure. Work hours are typically limited to standard business hours, but variations may apply to some openings.
This position requires extensive communication skills, both written and verbal, as relationships with potential clients and other members of the team are vital for success. Knowledge of credit management, credit underwriting, analytical skills, and negotiation abilities are also important; many positions require a demonstrated work history involving these types of tasks. Although specific requirements vary, 10 years of experience is a common standard qualification. Academic requirements usually include a bachelor’s degree in business or a similar field, but some organizations may accept specialized training or experience in lieu of education.
Vice President (VP), Commercial Lending Tasks
- Manage a team of loan officers structuring and writing loans, reviewing their work and maintaining quality standards.
- Provide customers with financial counseling, and recommend bank products which fit their needs.
- Monitor the status of problem loans and work with customers to make sure the loan is repaid.
- Negotiate, underwrite, and structure high level loans, and submit proposals for approval.
- Develop customer and referral networks, identifying and pursuing opportunities for loan sales.
Common Career Paths for Vice President (VP), Commercial Lending
VPs of Commercial Lending who move on to become Senior Vice Presidents of Commercial Lending may enjoy significant pay raises, as Senior Vice Presidents of Commercial Lending get paid an average of $135K per year. VPs of Commercial Lending most frequently advance into Commercial Lender and Commercial Loan Officer roles even though the median salaries are $31K lower and $42K lower, respectively.
Vice President (VP), Commercial Lending Job Listings
Popular Skills for Vice President (VP), Commercial Lending
Survey results suggest that VPs of Commercial Lending use a fairly large toolkit of professional skills. Most notably, skills in Financial Analysis, Sales, Business Development, and Loan Underwriting are correlated to pay that is above average. Most people skilled in Business Development are similarly competent in Financial Analysis.
Pay by Experience Level for Vice President (VP), Commercial Lending
Pay by Experience for a Vice President (VP), Commercial Lending has a positive trend. An entry-level Vice President (VP), Commercial Lending with less than 5 years of experience can expect to earn an average total compensation of $77,000 based on 24 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vice President (VP), Commercial Lending with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $102,000 based on 99 salaries. An experienced Vice President (VP), Commercial Lending which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $110,000 based on 154 salaries. A Vice President (VP), Commercial Lending with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $119,000 based on 93 salaries.
Pay Difference by Location
New York is home to an above-average pay rate for VPs of Commercial Lending, 23 percent higher than the national average. VPs of Commercial Lending can also look forward to large paychecks in cities like Boston (+23 percent), Chicago (+8 percent), Philadelphia (+7 percent), and Dallas (+6 percent). Place of residence plays a huge part in a VP of Commercial Lending's salary, with Tulsa VPs of Commercial Lending earning salaries that are 28 percent less than the national average.
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Key Stats for Vice President (VP), Commercial Lending
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