The average salary for a Loan Officer, Commercial is $73,932.
Loan Officer, Commercial by
Tell us about your job and pay factors like skills and education Find your market worth with a report tailored to you Negotiate your pay with confidence
What Do Loan Officer, Commercials Do?
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.
Job Satisfaction for Loan Officer, Commercial
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), Foothill Federal Credit Union and Park National Bank. Reported salaries are highest at Foothill Federal Credit Union where the average pay is $82,424. Other companies that offer high salaries for this role include Bank of America Corp. (BOFA) and Bancfirst Corporation, earning around $80,702 and $77,500, respectively. Park National Bank pays the lowest at around $54,055. Farm Credit and Bank of The Ozarks also pay on the lower end of the scale, paying $60,005 and $75,000, respectively.
Loan Officer, Commercial Job Listings
What Are Popular Skills for Loan Officer, Commercials?
Skills in Loan Underwriting, Commercial Loans and Portfolio Management are correlated to pay that is above average. Skills that pay less than market rate include Sales and Financial Analysis.
What is the Pay by Experience Level for Loan Officer, Commercials?
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 $46,774 based on 21 salaries. An early career Loan Officer, Commercial with 1-4 years of experience earns an average total compensation of $60,348 based on 216 salaries. A mid-career Loan Officer, Commercial with 5-9 years of experience earns an average total compensation of $74,094 based on 200 salaries. An experienced Loan Officer, Commercial with 10-19 years of experience earns an average total compensation of $89,133 based on 215 salaries. In their late career (20 years and higher), employees earn an average total compensation of $99,685.
Pay Difference by Location
Employees with Loan Officer, Commercial in their job title in Dallas, Texas earn an average of 29.3% more than the national average. These job titles also find higher than average salaries in Boston, Massachusetts (9.4% more). The lowest salaries can be found in Columbus, Ohio (27.0% less), Chicago, Illinois (9.1% less) and Wichita, Kansas (4.0% less).
Years of Experience
This data is based on 773 survey responses.