Loan Specialist Salary in Gary, Indiana

How much does a Loan Specialist make in Gary, IN?

As of April 01, 2025, the average annual salary for a Loan Specialist in Gary, IN is $59,391. According to Salary.com, salaries can range from a low of $44,297 to a high of $87,767, with most professionals earning between $51,490 and $74,244.

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Salary range for a Loan Specialist

$51,490 to $74,244

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Loan Specialist

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Job Openings for Loan Specialist in Gary, IN

What does a Loan Specialist do?

Common responsibilities of a Loan Specialist

Assist department by reporting any changes to internal controls or procedural changes as they occur to ensure policies and procedures are reflective of current processes and workflows.

November 25, 2022

Prepares memos with appropriate recommendations under Individual Delegated Authority (IDA) and to the appropriate approval authority for those transactions exceeding an IDA.

February 21, 2023

Requires High School diploma or equivalent and some 2+ year banking or loan processing, documentation or loan assistant experience or other directly related experience.

March 14, 2023

Completes a review of executed loan documentation packages to verify that all required documents have been received and signed accurately and authorizes the executed loan package to be boarded onto the Bank's loan system.

April 11, 2023

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Loan Specialist Salary By Experience Levels in Gary, IN

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RELEVANT JOB EXPERIENCE

Length of experience is a pay differentiator. Those with greater experience may have an advantage in negotiating salary. For those with less experience, other factors such as education or special skills could impact your pay. Please visit Professional Salary Report for more details.

Loan Specialist Salary By Level of Education in Gary, IN

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LEVEL OF EDUCATION

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Average Salary Range for Loan Specialist in Gary, IN

Average Base Salary

Core compensation

51490

74244

59391

Average Total Cash Compensation

Includes base and annual incentives

54136

77825

61851

What is the average salary for Loan Specialist in 2025?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Loan Specialist in Gary, IN. The base salary for Loan Specialist ranges from $51,490 to $74,244 with the average base salary of $59,391. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $54,136 to $77,825 with the average total cash compensation of $61,851.

View Average Salary for Loan Specialist as table

	Average Salary	Average Salary Range
Base Salary	$59,391	$51,490 - $74,244
Bonus	$2,460	$2,646 - $3,580
Total Pay	$61,851	$54,136 - $77,825

* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.

* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.

Loan Specialist Salary Near Gary, IN

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Gary, IN
CITY, STATE Hammond, IN	AVERAGE SALARY RANGE $51,490 - $74,244	COMPARE TO Gary, IN 0%
CITY, STATE Oak Lawn, IL	AVERAGE SALARY RANGE $53,442 - $77,059	COMPARE TO Gary, IN
CITY, STATE Tinley Park, IL	AVERAGE SALARY RANGE $52,236 - $75,319	COMPARE TO Gary, IN
CITY, STATE Chicago, IL	AVERAGE SALARY RANGE $53,504 - $77,148	COMPARE TO Gary, IN
CITY, STATE Orland Park, IL	AVERAGE SALARY RANGE $52,319 - $75,439	COMPARE TO Gary, IN
CITY, STATE Cicero, IL	AVERAGE SALARY RANGE $53,504 - $77,148	COMPARE TO Gary, IN

See salaries for Loan Specialist in locations close to Gary, IN. Pay for the same job may vary based on the location and on the location and on other factors such as the size of company, the industry, and other local conditions.

About Gary, Indiana

Gary is a city in Lake County, Indiana, United States, 25 miles (40 km) from downtown Chicago, Illinois. Gary is adjacent to the Indiana Dunes National Park and borders southern Lake Michigan. Gary was named after lawyer Elbert Henry Gary, who was the founding chairman of the United States Steel Corporation. The city is known for its large steel mills, and as the birthplace of the Jackson 5 music group. The population of Gary was 80,294 at the 2010 census, making it the ninth-largest city in the state of Indiana. It was a prosperous city from the 1920s through the mid-1960s due to its booming ...

Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia

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