Vice President (VP), Commercial Lending Salary
|Salary||$72,714 - $129,992|
|Bonus||$4,027 - $30,454|
|Profit Sharing||$811 - $10,850|
|Total Pay (||$74,607 - $153,512|
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
Advancing into a Senior Vice President of Commercial Lending role seems to be a popular career move for VPs of Commercial Lending, and folks who currently work in the latter position report a notably larger median income of $134K per year. VPs of Commercial Lending most often move into Commercial Lender or Commercial Loan Officer roles. However, the former pays $29K less on average, and the latter pays $41K less.
Vice President (VP), Commercial Lending Job Listings
Popular Skills for Vice President (VP), Commercial Lending
Typical VPs of Commercial Lending report a focused set of job skills. Most notably, skills in Sales, Financial Analysis, Loan Underwriting, and Business Development are correlated to pay that is above average. It is often found that people who know Business Development are also skilled in Financial Analysis.
Pay by Experience Level for Vice President (VP), Commercial Lending
Median of all compensation (including tips, bonus, and overtime) by years of experience.
VPs of Commercial Lending with a lot of experience tend to enjoy higher earnings. Salaries for the relatively untried average out to around $77K, but survey participants with five to 10 years of experience earn a significantly higher median of $102K. For VPs of Commercial Lending, 10 to 20 years of experience on the job amounts to an average salary of $108K. Old hands who claim more than two decades on the job enjoy average earnings of $117K.
Pay Difference by Location
Boston is home to an above-average pay rate for VPs of Commercial Lending, 25 percent higher than the national average. VPs of Commercial Lending will also find cushy salaries in New York (+24 percent), Chicago (+10 percent), Akron (+7 percent), and Houston (+6 percent). Location significantly influences compensation, with Tulsa VPs of Commercial Lending earning much less — 27 percent less — than the national average.
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Key Stats for Vice President (VP), Commercial Lending
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