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Senior loan specialist salary
Average senior loan specialist salary
$13.29
Understanding the Senior Loan Specialist Salary
The average salary for a Senior Loan Specialist in the United States is approximately $27,635 annually, or about $13 per hour. This figure can vary significantly based on factors such as location, years of experience, and the specific employer. For instance, states like California and Texas tend to offer higher salaries due to the cost of living and demand for qualified professionals.
In addition to base salary, many Senior Loan Specialists receive bonuses or commissions, which can significantly increase total earnings. As you gain more experience in the field, your earning potential can grow substantially. Entry-level positions may start lower, but with a few years of experience, you can expect a notable salary increase.
To maximize your career prospects, consider seeking positions in regions with a strong financial industry presence. Researching salary estimates from various sources can also provide insights into what you can expect in different areas. Overall, the role of a Senior Loan Specialist not only offers a stable income but also opportunities for professional growth within the financial services sector.
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Where can a Senior Loan Specialist earn more?
Senior loan specialist salary estimates from across the web
Average senior loan specialist salary by state
The highest-paying states for senior loan specialists are Washington, New Mexico, and Minnesota. The lowest average senior loan specialist salary states are Louisiana, Tennessee, and Mississippi.
- State view
- County view
Highest paying states for senior loan specialists
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Iowa | $31,216 | $15.01 |
| 2 | Minnesota | $33,133 | $15.93 |
| 3 | South Dakota | $31,012 | $14.91 |
| 4 | Wyoming | $30,779 | $14.80 |
| 5 | Maine | $32,757 | $15.75 |
| 6 | Arkansas | $32,461 | $15.61 |
| 7 | Montana | $30,649 | $14.74 |
| 8 | North Carolina | $30,611 | $14.72 |
| 9 | Hawaii | $32,567 | $15.66 |
| 10 | North Dakota | $29,472 | $14.17 |
| 11 | New Mexico | $34,227 | $16.46 |
| 12 | Washington | $34,230 | $16.46 |
| 13 | Rhode Island | $29,390 | $14.13 |
| 14 | Oregon | $30,164 | $14.50 |
| 15 | Vermont | $30,033 | $14.44 |
| 16 | Delaware | $28,685 | $13.79 |
| 17 | New Jersey | $30,106 | $14.47 |
| 18 | Missouri | $28,550 | $13.73 |
| 19 | Nebraska | $27,560 | $13.25 |
| 20 | Michigan | $27,240 | $13.10 |
| 21 | Maryland | $29,900 | $14.38 |
| 22 | California | $30,934 | $14.87 |
| 23 | Alaska | $26,838 | $12.90 |
| 24 | Wisconsin | $27,874 | $13.40 |
| 25 | Massachusetts | $29,925 | $14.39 |
| 26 | Kansas | $26,322 | $12.65 |
| 27 | Colorado | $27,339 | $13.14 |
| 28 | Illinois | $27,741 | $13.34 |
| 29 | Ohio | $25,948 | $12.47 |
| 30 | New York | $28,476 | $13.69 |
| 31 | Idaho | $25,553 | $12.29 |
| 32 | New Hampshire | $27,339 | $13.14 |
| 33 | West Virginia | $25,719 | $12.36 |
| 34 | Oklahoma | $26,758 | $12.86 |
| 35 | Florida | $24,081 | $11.58 |
| 36 | Kentucky | $25,734 | $12.37 |
| 37 | Georgia | $25,453 | $12.24 |
| 38 | South Carolina | $25,851 | $12.43 |
| 39 | Connecticut | $27,065 | $13.01 |
| 40 | Alabama | $24,348 | $11.71 |
| 41 | Texas | $24,133 | $11.60 |
| 42 | Utah | $23,312 | $11.21 |
| 43 | District of Columbia | $27,597 | $13.27 |
| 44 | Pennsylvania | $23,331 | $11.22 |
| 45 | Arizona | $21,824 | $10.49 |
| 46 | Tennessee | $23,035 | $11.07 |
| 47 | Nevada | $22,715 | $10.92 |
| 48 | Mississippi | $23,003 | $11.06 |
| 49 | Louisiana | $23,124 | $11.12 |
| 50 | Virginia | $23,311 | $11.21 |
| 51 | Indiana | $22,262 | $10.70 |
Highest paying cities for senior loan specialists
The highest-paying cities for senior loan specialists are Minneapolis, MN, Palo Alto, CA, and Charlotte, NC.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Minneapolis, MN | $33,127 | $15.93 |
| 2 | Palo Alto, CA | $31,968 | $15.37 |
| 3 | Charlotte, NC | $30,465 | $14.65 |
| 4 | Saint Joseph, MO | $28,737 | $13.82 |
| 5 | Addison, IL | $27,814 | $13.37 |
| 6 | Denver, CO | $27,336 | $13.14 |
| 7 | Charleston, SC | $25,616 | $12.32 |
| 8 | Woodstock, GA | $25,592 | $12.30 |
| 9 | Birmingham, AL | $24,409 | $11.74 |
| 10 | Baytown, TX | $23,692 | $11.39 |
| 11 | Shreveport, LA | $23,534 | $11.31 |
| 12 | Philadelphia, PA | $23,346 | $11.22 |
| 13 | Morristown, TN | $23,168 | $11.14 |
| 14 | Starkville, MS | $23,051 | $11.08 |
| 15 | Tempe, AZ | $21,806 | $10.48 |
Senior loan specialist salary details
A senior loan specialist's salary ranges from $23,000 a year at the 10th percentile to $32,000 at the 90th percentile.
What is a senior loan specialist's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $32,000 | $2,667 | $15 |
| 75th Percentile | $30,000 | $2,500 | $14 |
| Average | $27,635 | $2,303 | $13 |
| 25th Percentile | $25,000 | $2,083 | $12 |
| 10th Percentile | $23,000 | $1,917 | $11 |
Highest paying senior loan specialist jobs
The highest paying types of senior loan specialists are senior specialist, loan servicing specialist, and specialist.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Loan Officer/Loan Processor | $46,753 | $3,896 | $22.48 | 71,801 |
| Branch Manager/Loan Officer | $49,780 | $4,148 | $23.93 | 71,818 |
| Loan Manager | $39,623 | $3,302 | $19.05 | 11,965 |
| Loan Officer | $45,817 | $3,818 | $22.03 | 63,663 |
| Loan Adviser | $40,365 | $3,364 | $19.41 | 24,189 |
| Loan Coordinator | $39,836 | $3,320 | $19.15 | 24,765 |
Top companies hiring senior loan specialists now:
Which companies pay senior loan specialists the most?
Senior loan specialist salaries at First Republic Bank and KeyBank are the highest-paying according to our most recent salary estimates. In addition, the average senior loan specialist salary at companies like Wells Fargo and Citizens Financial Group are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | First Republic Bank | $33,997 | $16.34 |
| 2 | KeyBank | $33,069 | $15.90 |
| 3 | Wells Fargo | $32,494 | $15.62 |
| 4 | Citizens Financial Group | $32,141 | $15.45 |
| 5 | Citizens Alliance | $32,055 | $15.41 |
| 6 | Metropolitan Bank | $31,580 | $15.18 |
| 7 | Wintrust Financial | $31,109 | $14.96 |
| 8 | Northfield Bank | $30,888 | $14.85 |
| 9 | First Merchants | $30,623 | $14.72 |
| 10 | California Bank of Commerce | $30,469 | $14.65 |
| 11 | M&T Bank | $30,380 | $14.61 |
| 12 | Republic Financial | $30,360 | $14.60 |
| 13 | Flagstar Bank | $30,324 | $14.58 |
| 14 | OneMain | $30,303 | $14.57 |
| 15 | Zions Ban | $30,275 | $14.56 |
| 16 | BNP Paribas | $30,142 | $14.49 |
| 17 | Metropolitan Commercial Bank | $29,998 | $14.42 |
| 18 | Canadian Imperial Holdings, Inc. | $29,959 | $14.40 |
| 19 | Financial Partners Credit Union | $29,779 | $14.32 |
| 20 | BenefitMall | $29,597 | $14.23 |
Wage gap by gender, race and education
Senior loan specialist salary trends
The average senior loan specialist salary has risen by $2,562 over the last ten years. In 2014, the average senior loan specialist earned $25,073 annually, but today, they earn $27,635 a year. That works out to a 0% change in pay for senior loan specialists over the last decade.
Compare senior loan specialist salaries for cities or states with the national average over time.
Average senior loan specialist salary over time
Compare senior loan specialist salaries for individual cities or states with the national average.
Senior loan specialist salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $27,600 | $13.29 | +1.1% |
| 2024 | $27,300 | $13.14 | +0.4% |
| 2023 | $27,200 | $13.10 | -2.6% |
| 2022 | $27,900 | $13.43 | +1.6% |
| 2021 | $27,500 | $13.22 | +0.3% |
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