As of July 01, 2026, the average salary for a Loan Servicing Clerk I in the United States is $41,739 per year, which breaks down to an hourly rate of $20.
However, a Loan Servicing Clerk I's salary can vary significantly. Here’s a look at the typical salary range:
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A Loan Servicing Clerk I's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education, and company size can directly affect your earning potential.
Experience is a primary driver of a Loan Servicing Clerk I's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Loan Servicing Clerk I | 0-1 years | $41,739 |
| Loan Servicing Clerk II | 1-3 years | $46,521 |
| Loan Servicing Clerk III | 3-5 years | $51,690 |
| Loan Servicing Supervisor | 5+ years | $63,575 |
| Loan Servicing Manager | 5+ years | $96,459 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Loan Servicing Clerk Is. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Customer Service | 8.51% |
| Commercial Loans | 1.74% |
| Financial Services | 1.38% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Construction Loans
|
$55,930 |
34%
|
|
Decision Making
|
$46,748 |
12%
|
|
Coordination
|
$45,913 |
10%
|
|
Confidentiality
|
$45,496 |
9%
|
|
Listening
|
$45,496 |
9%
|
|
Word Processing
|
$45,078 |
8%
|
Loan Servicing Clerk I salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $44,523. While startup companies pay approximate $37,783.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $37,783 |
| Growth Stage | 51~500 | $39,931 |
| Established | 501~5000 | $43,035 |
| Enterprise | 5000+ | $44,523 |
For Loan Servicing Clerk I roles, the industry you choose can impact your earning potential by as much as 40% (the gap between the highest and lowest paying industries). Data shows that the highest-paying industry, Business Services, offers compensation 20% above the average. Conversely, Loan Servicing Clerk positions in Edu., Gov't. & Nonprofit typically offer lower base pay, as this sector often view Loan Servicing Clerk I as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Business Services | $50,087 | $24.0 | 20% |
Your level of education can impact your salary potential. While many Loan Servicing Clerk Is enter the field with a High School Diploma or Technical Certificate degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Loan Servicing Clerk I with a High School Diploma or Technical Certificate is between $38,022 and $40,695).
Loan Servicing Clerk I Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 32.0% |
| High School | 32.0% |
| Associates | 20.0% |
| Bachelors | 48.0% |
| Masters | 0.0% |
| Doctorate | 0.0% |
Understanding how a Loan Servicing Clerk I's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on July 01, 2026Promotions are the fastest way to increase your earnings. As a Loan Servicing Clerk I, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| Loan Servicing Clerk II | $46,521 | 11% |
| Escrow Officer | $58,168 | 39% |
Salaries for a Loan Servicing Clerk I can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $41,205 in 2023 to around $41,006 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Loan Servicing Clerk I salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $41,205 |
| 2024 | $41,245 |
| 2025 | $41,006 |
| 2026 |
View More
|
| 2027 |
View More
|
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A Loan Servicing Clerk I'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 Loan Servicing Clerk I earns the most in San Jose, CA, where the annual salary of a Loan Servicing Clerk I is $52,645.
The highest pay for Loan Servicing Clerk I is $47,965.
The lowest pay for Loan Servicing Clerk I is $35,373.
Services and maintains loan accounts by performing routine administrative tasks, ensuring accurate loan records, and providing customer support for the duration of the loan term. Reviews loan documentation and system records to verify payment activity, interest calculations, and account balances. Updates borrower information, processes payments, and applies adjustments such as escrow updates, late fees, or payoff calculations. Responds to borrower inquiries regarding loan balances, payment status, and servicing policies while maintaining compliance with regulatory guidelines. Maintains accurate loan files and supports audits by organizing documentation and verifying data accuracy. Requires a high school diploma. Typically reports to a supervisor. Works under the close direction of senior personnel in the functional area. Possesses a moderate understanding of general aspects of the job. May require 0-1 year of general work experience.
The Business Services industry offers the highest average compensation for Loan Servicing Clerk I roles, with salaries approximately 20% above the market median.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
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