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As of August 01, 2026, the average salary for a LOAN OPERATIONS SPECIALIST in Illinois is $50,550 per year, which breaks down to an hourly rate of $24.
However, a LOAN OPERATIONS SPECIALIST's salary can vary significantly. Here’s a look at the typical salary range:
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LOAN OPERATIONS SPECIALIST Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $55,649 | $4,637 | $1,070 | $27 |
| Average | $50,550 | $4,212 | $972 | $24 |
| 25th Percentile | $46,710 | $3,893 | $898 | $22 |
TrustBank - Olney, IL
Legence Bank - Metropolis, IL
Legence Bank - Carbondale, IL
TrustBank - Olney, IL
A LOAN OPERATIONS SPECIALIST'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 and company size can directly affect your earning potential.
Experience is a primary driver of a LOAN OPERATIONS SPECIALIST'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:
| Levels | Salary |
|---|---|
| Entry Level LOAN OPERATIONS SPECIALIST | $48,017 |
| Intermediate Level LOAN OPERATIONS SPECIALIST | $48,301 |
| Senior Level LOAN OPERATIONS SPECIALIST | $50,700 |
| Specialist Level LOAN OPERATIONS SPECIALIST | $54,074 |
| Expert Level LOAN OPERATIONS SPECIALIST | $54,299 |
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 OPERATIONS SPECIALISTs. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
For LOAN OPERATIONS SPECIALIST roles, the industry you choose can impact your earning potential by as much as 25% (the gap between the highest and lowest paying industries). Data shows that the highest-paying industry, Financial Services, offers compensation 10% above the average. Conversely, LOAN OPERATIONS SPECIALIST positions in Business Services typically offer lower base pay, as this sector often view LOAN OPERATIONS SPECIALIST as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $55,604 | $27.0 | 10% |
| Edu., Gov't. & Nonprofit | $53,077 | $26.0 | 5% |
Understanding how a LOAN OPERATIONS SPECIALIST'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.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $55,649 | $4,637 | $1,070 | $27 |
| Average | $50,550 | $4,212 | $972 | $24 |
| 25th Percentile | $46,710 | $3,893 | $898 | $22 |
Ready to take the next step in your career? Browse thousands of current LOAN OPERATIONS SPECIALIST job openings on our job board. Use the search bar below to find your perfect match.
Legence Bank
Eldorado, IL
Legence Bank | Eldorado, IL
Job Description. Job Description. Job Posting TitleLoan Operations Specialist I. Job Description. Position Summary. The Loan Operations Specialist is respo... more
6 Days Ago
Dieterich Bank
Effingham, IL
Dieterich Bank | Effingham, IL
Job Description. Job Description. Dieterich Bank is looking for a Loan Operations Specialist to add to our corporate team in Effingham, IL. The Loan Operat... more
6 Days Ago
Legence Bank
Mount Vernon, IL
Legence Bank | Mount Vernon, IL
Job Description. Job Description. Job Posting TitleLoan Operations Specialist I. Job Description. Position Summary. The Loan Operations Specialist is respo... more
6 Days Ago
M/I Homes
Naperville, IL
M/I Homes | Naperville, IL
Job Description. Job Description. M/I Homes has been building new homes of outstanding quality and superior design for 50 years. Founded in 1976 by Irving ... more
3 Days Ago
Evangelical Covenant Church
Chicago, IL
Evangelical Covenant Church | Chicago, IL
Job Description. Job Description. Description. National Covenant Properties (NCP). is a $400 million church extension fund, that operates as a financial. m... more
5 Days Ago
First Women's Bank
Chicago, IL
First Women's Bank | Chicago, IL
Senior Vice President, Closing and Loan Operations Manager. At First Women’s Bank, we recognize the vital contributions of small business owners who suppor... more
4 Days Ago
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