$41,370
Avg. Salary
$15.81
Avg. Hourly Rate

Average additional compensation:

$2,550

Bonus

$1,000

Profit Sharing

What am I worth?
How should I pay?

The average pay for a Loan Operations Specialist is $15.81 per hour.

The average pay for a Loan Operations Specialist is $41,370 per year.

10%
$12.29
10%
$15.81
50%
$21.74
90%
90%
MEDIAN $15.81
10%
$29k
10%
$41k
50%
$58k
90%
90%
MEDIAN $41,370
$29,112 - $57,930
$29K
$41K
$58K
MEDIAN: $41,370
10%
50%
90%

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$12.29 - $21.74
$12
$16
$22
MEDIAN: $15.81
10%
50%
90%

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$0$57K
Salary $29,112 - $57,930
Bonus $688 - $12,000
Profit Sharing $1,000
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).
)
$26,985 - $56,845
  • Country: United States
  • Currency: USD
  • Updated: 20 Mar 2019
  • Individuals Reporting: 158
Hourly Data $0$35
Hourly Rate $12.29 - $21.74
Hourly Tips $1.78
Overtime $18.01 - $35.84
Annual Data $0$56K
Bonus $688 - $12,000
Profit Sharing $1,000
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).
)
$26,985 - $56,845
  • Country: United States
  • Currency: USD
  • Updated: 20 Mar 2019
  • Individuals Reporting: 195

Job Description for Loan Operations Specialist

Loan operations specialists work primarily in the financial industry for banks, credit unions, or mortgage companies and are responsible for processing loan applications and reviewing loan documents to ensure their accurate completion. It is also important that all documents adhere to their institutions' established requirements and government regulations.

Read More...
Loan Operations Specialist Tasks
  • Process loan documentation, identifying and seeking missing paperwork or information.
  • Perform payments and adjust balances.
  • Update and capture interactions and communications in software systems.
  • Communicate with lawyers, borrowers, agencies and other groups to facilitate loans or collections.

Loan Operations Specialist Job Listings

Popular Skills for Loan Operations Specialist


Loan Operations Specialists seem to require a number of specific skills. Most notably, skills in Consumer Loans, General Ledger Accounting, Commercial Loans, and Regulatory Compliance are correlated to pay that is above average, with boosts between 13 percent and 16 percent. Skills that are correlated to lower pay, on the other hand, include Auditing. Those educated in Loan Documents tend to be well versed in Commercial Loans.

Pay by Experience Level for Loan Operations Specialist

Pay by Experience for a Loan Operations Specialist has a positive trend. An entry-level Loan Operations Specialist with less than 5 years of experience can expect to earn an average total compensation of $33,000 based on 101 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Operations Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $35,000 based on 61 salaries. An experienced Loan Operations Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $39,000 based on 53 salaries. A Loan Operations Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $50,000 based on 19 salaries.

Related Job Salaries

Key Stats for Loan Operations Specialist

Gender

Female
78 %
Male
22 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 51 votes.
Less than 1 year
5%
1-4 years
41%
5-9 years
20%
10-19 years
26%
20 years or more
7%

Experience Affects Loan Operations Specialist Salaries

▲34%

▲6%

National Average
$37,000

▼5%

▼10%

Skills That Affect Loan Operations Specialist Salaries

Consumer Loans
▲12%

Commercial Loans
▲9%

General Ledger Accounting
▲9%

National Average
$37,000

Regulatory Compliance
▼1%



Auditing
▼15%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 51 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
5%
1-4 years
41%
5-9 years
20%
10-19 years
26%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 81%
vision benefits
Vision: 68%
no benefits
None: 11%