Average Mid-Career Loan Officer, Commercial Salary

$73,011
Avg. SalaryShow Hourly Rate
$8,000
Bonus
$9,826
Commission
$2,250
Profit Sharing
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The average salary for a Mid-Career Loan Officer, Commercial is $73,011.
10%
$51k
10%
$73k
50%
$101k
90%
90%
MEDIAN $73,011
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United States (change)
Salary
$51k - $101k
Bonus
$2k - $21k
Profit Sharing
$511 - $6k
Commission
$2k - $30k
Total Pay
$52k - $119k

Your Market Worth Over Time

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Job Description for Loan Officer, Commercial

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.

Career Paths

Explore the most common career paths for Loan Officer, Commercial. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Loan Officer, Commercial
Vice President (VP), Commercial Lending
Commercial Lender
Loan Officer
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)

Loan Officer, Commercial Job Listings

Popular Skills for Loan Officer, Commercial

Skills in Portfolio Management, Loan Underwriting, Sales and Business Analysis are correlated to pay that is above average. Skills that pay less than market rate include 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 $48,485 based on 19 salaries. An early career Loan Officer, Commercial with 1-4 years of experience earns an average total compensation of $58,874 based on 240 salaries. An experienced Loan Officer, Commercial with 10-19 years of experience earns an average total compensation of $89,078 based on 245 salaries. In their late career (20 years and higher), employees earn an average total compensation of $99,610.
Employees with Loan Officer, Commercial in their job title in Boston, Massachusetts earn an average of 12.9% more than the national average. These job titles also find higher than average salaries in Minneapolis, Minnesota (6.1% more). The lowest salaries can be found in Chicago, Illinois (8.9% less) and Birmingham, Alabama (2.1% less).

Years of Experience

This data is based on 637 survey responses.
Entry Level
3.0%
Early Career
37.7%
Experienced
38.5%
Late Career
20.9%