As of March 01, 2025, the average annual salary for a Loan Servicing Clerk III in Salem, MA is $58,329. Salary.com reports that pay typically ranges from $51,149 to $67,256, with most professionals earning between $44,613 and $75,383.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $60,104 | $5,009 | $1,156 | $29 |
| Average | $52,126 | $4,344 | $1,002 | $25 |
| 25th Percentile | $45,710 | $3,809 | $879 | $22 |
An entry-level Loan Servicing Clerk III with under 1 year experience makes about $54,409. With less than 2 years of experience, a mid-level Loan Servicing Clerk III makes around $54,938. After 2-4 years, the Loan Servicing Clerk III pay rises to about $55,996. Those senior Loan Servicing Clerk III with 5-8 years of experience earn roughly $60,214, and those Loan Servicing Clerk III having 8 years or more experience are expected to earn about $62,582 on average.
| Levels | Salary |
|---|---|
| Entry Level Loan Servicing Clerk III | $54,409 |
| Intermediate Level Loan Servicing Clerk III | $54,938 |
| Senior Level Loan Servicing Clerk III | $55,996 |
| Specialist Level Loan Servicing Clerk III | $60,214 |
| Expert Level Loan Servicing Clerk III | $62,582 |
| Entry Level | 4% |
| Mid Level | 5% |
| Senior Level | 7% |
| Top Level | 16% |
| Experienced | 20% |
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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.
Loan Review: Loan review is a process routinely used by banks to assess the current value of loan portfolios. Provisioning is a technique to translate loan review results into the balance sheet.
| Skill | Salary | Demand |
|---|---|---|
|
Process Improvement
|
$74,661 |
28%
|
|
Analytical Skills
|
$73,495 |
26%
|
|
Leadership
|
$67,078 |
15%
|
|
Accountability
|
$66,495 |
14%
|
|
Payment Processing
|
$66,495 |
14%
|
|
Flexibility
|
$64,745 |
11%
|
