Average Loan Officer with Commercial Loans Skills Salary

$53,138
Avg. SalaryShow Hourly Rate
$4,422
Bonus
$3,064
Commission
$2,948
Profit Sharing
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The average salary for a Loan Officer with Commercial Loans skills is $53,138.
10%
$37k
MEDIAN
$53k
90%
$85k
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United States (change)
Salary
$37k - $85k
Bonus
$1k - $14k
Profit Sharing
$1k - $6k
Commission
$503 - $50k
Total Pay
$35k - $90k

Your Market Worth Over Time

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Job Description for Loan Officer

Loan Officer Tasks
  • Obtain and compile financial information to evaluate loan applications and their risk.
  • Generate new clients and referrals through strong relationship building.
  • Track and maintain credit and loan data.
  • Work directly with clients to review agreements, explain programs, and negotiate loans and terms.

Popular Employer Salaries for Loan Officer

The top respondents for the job title Loan Officer are from the companies Farm Credit, First Bank and The FIrst State Bank. Reported salaries are highest at Farm Credit where the average pay is $55,389. The FIrst State Bank pays the lowest at around $40,800.

Loan Officer Job Listings

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Popular Skills for Loan Officer

Skills that pay less than market rate include Loan Underwriting, Mortgage Loans, Loan Processing, Customer Service and Consumer Loans.

Pay by Experience Level for Loan Officer

An entry-level Loan Officer with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $44,668 based on 7 salaries. An early career Loan Officer with 1-4 years of experience earns an average total compensation of $48,259 based on 158 salaries. A mid-career Loan Officer with 5-9 years of experience earns an average total compensation of $56,428 based on 92 salaries. An experienced Loan Officer with 10-19 years of experience earns an average total compensation of $65,433 based on 66 salaries. In their late career (20 years and higher), employees earn an average total compensation of $73,234.
Employees with Loan Officer in their job title in Denver, Colorado earn an average of 45.7% more than the national average. These job titles also find higher than average salaries in Huntsville, Alabama (41.1% more) and Chicago, Illinois (35.3% more). The lowest salaries can be found in Austin, Texas (24.7% less) and Los Angeles, California (5.0% less).

Years of Experience

This data is based on 365 survey responses.
Entry Level
1.9%
Early Career
43.3%
Mid Career
25.2%
Experienced
18.1%
Late Career
11.5%