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Senior Loan Specialist Careers

There is more than meets the eye when it comes to being a senior loan specialist. For example, did you know that they make an average of $13.88 an hour? That's $28,876 a year!

Between 2018 and 2028, the career is expected to grow 8% and produce 24,300 job opportunities across the U.S.

What Does a Senior Loan Specialist Do

There are certain skills that many senior loan specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed detail oriented, initiative and interpersonal skills.

When it comes to the most important skills required to be a senior loan specialist, we found that a lot of resumes listed 26.1% of senior loan specialists included loan portfolio, while 11.1% of resumes included loan applications, and 5.0% of resumes included ensure compliance. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the senior loan specialist job title. But what industry to start with? Most senior loan specialists actually find jobs in the finance and technology industries.

How To Become a Senior Loan Specialist

If you're interested in becoming a senior loan specialist, one of the first things to consider is how much education you need. We've determined that 46.6% of senior loan specialists have a bachelor's degree. In terms of higher education levels, we found that 4.4% of senior loan specialists have master's degrees. Even though most senior loan specialists have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a senior loan specialist. When we researched the most common majors for a senior loan specialist, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on senior loan specialist resumes include high school diploma degrees or master's degree degrees.

You may find that experience in other jobs will help you become a senior loan specialist. In fact, many senior loan specialist jobs require experience in a role such as customer service representative. Meanwhile, many senior loan specialists also have previous career experience in roles such as loan specialist or loan processor.

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Average Salary
$28,876
Average Salary
Job Growth Rate
8%
Job Growth Rate
Job Openings
16,425
Job Openings

Senior Loan Specialist Career Paths

Top Careers Before Senior Loan Specialist

Top Careers After Senior Loan Specialist

Senior Loan Specialist Jobs You Might Like

What is the right job for my career path?

Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Senior Loan Specialist

Senior Loan Specialists in America make an average salary of $28,876 per year or $14 per hour. The top 10 percent makes over $35,000 per year, while the bottom 10 percent under $23,000 per year.
Average Salary
$28,876
Find Your Salary Estimate
How much should you be earning as an Architect? Use Zippia's Salary Calculator to get an estimation of how much you should be earning.

Best Paying Cities

City
ascdesc
Average Salarydesc
Round Rock, TX
Salary Range25k - 38k$31k$31,103
Clinton, MS
Salary Range23k - 34k$29k$28,614
Savannah, GA
Salary Range23k - 33k$28k$27,833
$23k
$38k

Recently Added Salaries

Job TitleCompanyascdescCompanyascdescStart DateascdescSalaryascdesc
SR. Consumer Loan Specialist-Sales Customer Service
SR. Consumer Loan Specialist-Sales Customer Service
Republic Finance, LLC
Republic Finance, LLC
06/25/2021
06/25/2021
$28,00006/25/2021
$28,000
SR. Consumer Loan Specialist-Sales Customer Service
SR. Consumer Loan Specialist-Sales Customer Service
Republic Financial
Republic Financial
06/23/2021
06/23/2021
$28,00006/23/2021
$28,000
SR. Consumer Loan Specialist-Sales Customer Service
SR. Consumer Loan Specialist-Sales Customer Service
Republic Finance, LLC
Republic Finance, LLC
06/22/2021
06/22/2021
$28,00006/22/2021
$28,000
SR. Consumer Loan Specialist-Sales Customer Service
SR. Consumer Loan Specialist-Sales Customer Service
Republic Financial
Republic Financial
06/21/2021
06/21/2021
$28,00006/21/2021
$28,000
SR. Consumer Loan Specialist-Sales Customer Service
SR. Consumer Loan Specialist-Sales Customer Service
Republic Financial
Republic Financial
06/15/2021
06/15/2021
$28,00006/15/2021
$28,000
See More Recent Salaries

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Senior Loan Specialist Demographics

Gender

female

63.8 %

male

32.7 %

unknown

3.5 %

Ethnicity

White

68.4 %

Hispanic or Latino

14.8 %

Black or African American

8.4 %

Foreign Languages Spoken

Spanish

53.5 %

Chinese

7.0 %

Cantonese

4.7 %
See More Demographics

Senior Loan Specialist Education

Majors

Business
37.6 %
Finance
10.3 %

Degrees

Bachelors

46.6 %

Certificate

19.0 %

Associate

18.0 %

Top Colleges for Senior Loan Specialists

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
See More Education Info

Online Courses For Senior Loan Specialist That You May Like

Become a Mortgage Loan Processor
udemy
4.4
(2,162)

Finibi Mortgage CEO, Joe Correa, teaches you how to become a mortgage loan processor...

Advanced Mortgage Loan Processor: Essential Skills Training
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4.5
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Finibi Mortgage CEO, Joe Correa, teaches you how to take your mortgage loan processor career to the next level...

How to Become a Mobile Notary and Loan Signing Agent
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Learn how to make over six figures as a Real Estate Loan Signing Agent and Mobile Notary...

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Top Skills For a Senior Loan Specialist

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 26.1% of senior loan specialists listed loan portfolio on their resume, but soft skills such as detail oriented and initiative are important as well.

Best States For a Senior Loan Specialist

Some places are better than others when it comes to starting a career as a senior loan specialist. The best states for people in this position are Washington, New Jersey, Florida, and Massachusetts. Senior loan specialists make the most in Washington with an average salary of $43,053. Whereas in New Jersey and Florida, they would average $40,254 and $39,921, respectively. While senior loan specialists would only make an average of $38,826 in Massachusetts, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Florida

Total Senior Loan Specialist Jobs:
1,429
Highest 10% Earn:
$57,000
Location Quotient:
1.34
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. South Dakota

Total Senior Loan Specialist Jobs:
90
Highest 10% Earn:
$49,000
Location Quotient:
1.23
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Wyoming

Total Senior Loan Specialist Jobs:
62
Highest 10% Earn:
$48,000
Location Quotient:
1.52
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
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Top Senior Loan Specialist Employers

1. Bank of America
4.8
Avg. Salary: 
$42,944
Senior Loan Specialists Hired: 
145+
2. The PNC Financial Services Group
4.8
Avg. Salary: 
$36,720
Senior Loan Specialists Hired: 
95+
3. OneMain Financial
4.4
Avg. Salary: 
$27,624
Senior Loan Specialists Hired: 
80+
4. Accredited
4.1
Avg. Salary: 
$27,483
Senior Loan Specialists Hired: 
37+
5. Wells Fargo
4.7
Avg. Salary: 
$40,259
Senior Loan Specialists Hired: 
27+
6. JPMorgan Chase & Co.
4.9
Avg. Salary: 
$54,676
Senior Loan Specialists Hired: 
26+
Updated October 2, 2020