As of December 01, 2024, the average annual pay of Commercial Loan Processor in the United States is $52,668. While Salary.com is seeing that Commercial Loan Processor salary in the US can go up to $69,874 or down to $40,553, but most earn between $46,326 and $61,674. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Commercial Loan Processor in the United States.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $61,674 | $5,140 | $1,186 | $30 |
| Average | $52,668 | $4,389 | $1,013 | $25 |
| 25th Percentile | $46,326 | $3,861 | $891 | $22 |
As of December 01, 2024, Salary.com is seeing that an entry-level Commercial Loan Processor with under 1 year experience makes about $48,837. With less than 2 years of experience, a mid-level Commercial Loan Processor makes around $49,308. After 2-4 years, the Commercial Loan Processor pay rises to about $53,354. Those senior Commercial Loan Processor with 5-8 years of experience earn roughly $59,376, and those Commercial Loan Processor having 8 years or more experience is expected to earn about $59,778 on average.
| Levels | Salary |
|---|---|
| Entry Level Commercial Loan Processor | $48,837 |
| Intermediate Level Commercial Loan Processor | $49,308 |
| Senior Level Commercial Loan Processor | $53,354 |
| Specialist Level Commercial Loan Processor | $59,376 |
| Expert Level Commercial Loan Processor | $59,778 |
| Entry Level | 7% |
| Mid Level | 6% |
| Senior Level | 1% |
| Top Level | 13% |
| Experienced | 13% |
Salaries in the United States can vary significantly from state to state due to a multitude of factors, including cost of living, local economic conditions, and industry presence.
For example, as of December 01, 2024, the average yearly salary of Commercial Loan Processor is $58,092 in California and in Massachusetts, the average annual salary goes to $57,302. While in New Jersey, a Commercial Loan Processor earns $57,724 per year.
What Am I Worth?
Salaries in the United States can vary significantly from city to city due to a multitude of factors, including cost of living, local economic conditions, and industry presence.
For example, as of December 01, 2024, the average yearly salary of Commercial Loan Processor in San Francisco, CA is $65,834 and in New York, NY, the average annual salary goes to $61,516. While a Commercial Loan Processor earns $59,040 per year in Boston, MA.
For those exploring the changing dynamics of Commercial Loan Processor salaries, Salary.com offers detailed insights through our Job Trending in CA Labor Market analysis. As of December 01, 2024, our research highlights a notable shift in Commercial Loan Processor compensation over the past six years. For instance, the median salary has moved from $45,227 in 2023 to about $45,351 in 2024 (for a comprehensive analysis of Commercial Loan Processor salary trends, click here). It's crucial to consider several elements, including geographical location, experience level, industry demand, and economic development, as they play a significant role in influencing salary variations.
Salary.com job board provides millions of Commercial Loan Processor information for you to search for. Click on search button below to see Commercial Loan Processor job openings or enter a new job title here.
Here are companies hiring for Commercial Loan Processor and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $52,668 | 67.9% | ||
| Bonus | $1,949 | 2.5% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $4,178 | 5.4% | ||
| 401K/403B | $2,567 | 3.3% | ||
| Disability | $437 | 0.6% | ||
| Healthcare | $6,056 | 7.8% | ||
| Pension | $3,004 | 3.9% | ||
| Time Off | $6,722 | 8.7% | ||
| Total Compensation | $77,580 | 100% | ||
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 1.7% |
| High School | 32.2% |
| Associates | 22.0% |
| Bachelors | 37.3% |
| Masters | 5.9% |
| Doctorate | 0.8% |
What Am I Worth?
The average annual salary of Commercial Loan Processor is $52,668. In case you are finding an easy salary calculator, the average hourly pay of Commercial Loan Processor is $25; the average weekly pay of Commercial Loan Processor is $1,013; the average monthly pay of Commercial Loan Processor is $4,389.
A Commercial Loan Processor's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Commercial Loan Processor earns the most in San Jose, CA, where the annual salary of a Commercial Loan Processor is $66,098.
The highest pay for Commercial Loan Processor is $69,874.
The lowest pay for Commercial Loan Processor is $40,553.
Commercial Loan Processor performs administrative tasks for commercial loan processing. Coordinates with lenders, customers, and external vendors to collect and prepare all required documentation for closings. Being a Commercial Loan Processor ensures that loan packages are complete, and documentation correctly prepared within required timelines. Inputs and maintains all required transaction and processing records according to procedures. Additionally, Commercial Loan Processor responds to inquiries. Prepares required regulatory reporting. May require an associate degree. Typically reports to a supervisor. The Commercial Loan Processor works under moderate supervision. Gaining or has attained full proficiency in a specific area of discipline. To be a Commercial Loan Processor typically requires 1-3 years of related experience.
Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.
General Ledger: Creating and keeping track of business transactions and activities to monitor financial operations.
Employee Assistance Programs: Assisting employees with work-related problems that may impact their job performance, health, mental and emotional well-being.
