Loan Administrator Salary

Median pay for Loan Administrators in the United States is around $46K annually. Career length is the biggest factor affecting pay for this group, followed by geography. Most report receiving medical coverage from their employers and a large number collect dental insurance. Men are in the minority of survey respondents, with female Loan Administrators making up 76 percent. Most Loan Administrators like their work and job satisfaction is high. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$32,314 - $71,039
$32K
$46K
$71K
MEDIAN: $46,366
10%
50%
90%

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$13.35 - $24.07
$13
$18
$24
MEDIAN: $18.14
10%
50%
90%

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$0$71K
Salary $32,314 - $71,039
Bonus $981 - $6,896
Profit Sharing $2,150
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).
)
$30,651 - $67,927
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 178
Hourly Data $0$45
Hourly Rate $13.35 - $24.07
Overtime $21.84 - $45.44
Annual Data $0$67K
Bonus $981 - $6,896
Profit Sharing $2,150
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).
)
$30,651 - $67,927
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 105

Find Out Exactly What You Should Be Paid

United States (change)

Job Description for Loan Administrator

There are many reasons individuals seek to procure loans, places one may go to find one, and different contexts in which loan processes are administered. Whatever the variables, most institutions which loan money typically employ a loan administrator to oversee the processes. Also known as a loan officer or a loan processor, these individuals are responsible for every aspect of the loan process, from meeting with prospective borrowers and hashing out terms to overseeing collection and processing of payments and ensuring that everything is handled within legal and regulatory boundaries.

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Loan Administrator Tasks

  • Assess loan applications and credit reports.
  • Maintain legal documentation and ensure accuracy.
  • Develop and negotiate plans with borrowers.
  • Answer questions and interview applicants.

Loan Administrator Job Listings

Popular Skills for Loan Administrator


Loan Administrators report a narrow range of specific skills. Most notably, skills in Commercial Loans, Loan Processing, Loan Documents, and Mortgage Loans are correlated to pay that is above average. Skills that seem to negatively impact pay include Mortgage Loans, Loan Documents, and Loan Processing. Most people familiar with Loan Documents also know Commercial Loans.

Pay by Experience Level for Loan Administrator

Pay by Experience for a Loan Administrator has a positive trend. An entry-level Loan Administrator with less than 5 years of experience can expect to earn an average total compensation of $38,000 based on 144 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Administrator with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $46,000 based on 76 salaries. An experienced Loan Administrator which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $48,000 based on 73 salaries. A Loan Administrator with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $64,000 based on 41 salaries.

Pay Difference by Location

National Average: $44,030

Larger city markers indicate a job is popular in that location.

Loan Administrators will find that San Diego offers an impressive pay rate, one which exceeds the national average by 41 percent. Loan Administrators can also look forward to large paychecks in cities like Philadelphia (+39 percent), Boston (+37 percent), San Francisco (+37 percent), and Dallas (+26 percent). The smallest paychecks in the market, 11 percent south of the national average, can be found in Atlanta.

Related Job Salaries

Key Stats for Loan Administrator

Gender

Female
75 %
Male
25 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 46 votes.
Less than 1 year
3%
1-4 years
41%
5-9 years
19%
10-19 years
23%
20 years or more
13%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Administrator Salaries

▲45%

▲8%

▲6%

National Average
$44,000

▼13%

Skills That Affect Loan Administrator Salaries


National Average
$44,000




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 46 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
3%
1-4 years
41%
5-9 years
19%
10-19 years
23%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 79%
vision benefits
Vision: 65%
no benefits
None: 9%
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