The average salary for a Loan Officer, Commercial is $72,719.
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$47k - $115k
$2k - $25k
$492 - $10k
$3k - $26k
$47k - $127k
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Job Description for Loan Officer, Commercial
A commercial loan officer works with current business clients and individuals looking to start small businesses. Much of the loan officer's duties entail maintaining and administering these loan accounts for the bank, following standard procedures and protocols. A commercial loan officer is typically expected to help generate new business and accounts as well, however. For the loan officer, that means networking and making sure that the loan and credit services of the bank are publicized and in…Read more
Loan Officer, Commercial Tasks
- Develop, maintain, and grow the commercial loan portfolio of private loan companies, government agencies, and non-profit organizations.
- Solicit new business by developing marketing strategies.
- Oversee handling of advances, payments, and wire transfers.
- Negotiate credit terms, and prepare credit analysis and repayment plan for approvals.
- Interview, consult, accept, analyze credit of, and perform credit reviews of potential borrowers.
Popular Employer Salaries for Loan Officer, Commercial
The top respondents for the job title Loan Officer, Commercial are from the companies Bank of America Corp. (BOFA), Bank of The Ozarks and Farm Credit. Reported salaries are highest at Bank of America Corp. (BOFA) where the average pay is $78,553. Farm Credit pays the lowest at around $60,009.
Loan Officer, Commercial Job Listings
Popular Skills for Loan Officer, Commercial
Skills in Portfolio Management and Sales are correlated to pay that is above average. Skills that pay less than market rate include Business Analysis, Loan Underwriting and Financial Analysis.
Pay by Experience Level for Loan Officer, Commercial
An entry-level Loan Officer, Commercial with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $48,790 based on 68 salaries. An early career Loan Officer, Commercial with 1-4 years of experience earns an average total compensation of $58,809 based on 286 salaries. A mid-career Loan Officer, Commercial with 5-9 years of experience earns an average total compensation of $73,011 based on 267 salaries. An experienced Loan Officer, Commercial with 10-19 years of experience earns an average total compensation of $88,761 based on 261 salaries. In their late career (20 years and higher), employees earn an average total compensation of $100,143.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Loan Officer, Commercial in their job title in Dallas, Texas earn an average of 16.9% more than the national average. These job titles also find higher than average salaries in Boston, Massachusetts (11.3% more) and Oklahoma City, Oklahoma (0.7% more). The lowest salaries can be found in Columbus, Ohio (31.4% less), Los Angeles, California (10.6% less) and Chicago, Illinois (5.9% less).
Years of Experience
This data is based on 1,005 survey responses.
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