Loans Manager Salary in Springfield, Illinois

What is the salary range of Loans Manager?

As of December 01, 2024, the average annual pay of Loans Manager in Springfield, IL is $171,013. While Salary.com is seeing that Loans Manager salary in Springfield, IL can go up to $212,256 or down to $117,384, but most earn between $142,942 and $192,601. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Loans Manager in the United States.

Search Loans Manager Jobs in Springfield, IL

Develop a Job description

Pay Equity

2024 Compensation Trend

Benefits Consulting

Salary range for a Loans Manager

$142,942 to $192,601

Employers: Find Surveys For This Job

Employers: Price Your Company Jobs

View Average Salary for United States
Adjust Loans Manager Salary:
Select State
Select City in IL
Choose Similar Job
Pick Related Category
View Cost of Living in Springfield, Illinois

Facing Salary Structure Challenges? Let Our Expert Guide You

The job market is increasingly challenging. Our whitepaper, Navigating the Challenges of Creating Salary Structures, offers guidance on creating salary structures. Provide your phone number and work email to download the full version.

We will handle your contact details in line with our Privacy Policy. If you prefer not to receive marketing emails from Salary.com, you can opt-out out of marketing communications at any time by clicking unsubscribe.

What is a Loans Manager?

The Loans Manager is responsible for overseeing the loan department of a financial institution, including managing a team of loan officers and ensuring that loan applications are processed efficiently and accurately. They are also responsible for developing and implementing loan policies and procedures, as well as ensuring compliance with all relevant regulations and guidelines. The Loans Manager is also involved in evaluating loan applications, making lending decisions, and monitoring the performance of the loan portfolio. Additionally, they may be responsible for developing and maintaining relationships with clients and promoting loan products and services to potential customers. Overall, the Loans Manager plays a crucial role in the success of the loan department and the overall financial institution.

See user submitted job responsibilities for Loans Manager.

Search Loans Manager Job Openings

Job Openings for Loans Manager in Springfield, IL

What does a Loans Manager do?

Common responsibilities of a Loans Manager

Oversee the loan department and ensure that all loan processes and procedures are followed accurately and efficiently.

September 06, 2023

Provide training and support to loan officers and other staff members to ensure a high level of customer service and loan quality.

September 13, 2023

Monitor and manage loan delinquencies and work with borrowers to develop repayment plans.

September 22, 2023

Analyze credit reports and financial statements to assess the creditworthiness of loan applicants.

October 09, 2023

Stay informed about changes in lending regulations and industry trends to ensure compliance and best practices.

October 29, 2023

Develop and maintain relationships with external partners such as credit bureaus, appraisers, and legal counsel.

November 02, 2023

Work with loan officers to provide guidance and support in structuring and underwriting loans.

November 08, 2023

Review and approve loan applications, ensuring that all necessary documentation and information is provided.

November 09, 2023

Manage and monitor the loan portfolio to ensure that loans are performing according to established guidelines.

November 18, 2023

Develop and implement loan policies and procedures to ensure compliance with regulatory requirements.

November 19, 2023

Submit Other Responsibilities

Not the job you're looking for? Search more salaries here:

Are you an HR manager or compensation specialist?

Salary.com's CompAnalyst platform offers:

Detailed skills and competency reports for specific positions
Job and employee pricing reports
Compensation data tools, salary structures, surveys and benchmarks.

Learn about

Loans Manager Salary By Experience Levels in Springfield, IL

How much should you be earning in Loans Manager in Springfield, IL based on your current experience?

Tell us how much experience you have and see an estimate of earnings and view how different experience leavels impact potential pay for Loans Manager in Springfield, IL

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.

Loans Manager Salary By Level of Education in Springfield, IL

Do you know how much should you be paid for a Loans Manager position in Springfield, IL based on your education level?

Tell us about your education and see an estimate of earnings for Loans Manager in Springfield, IL and well to know the impact of education on future careers.

LEVEL OF EDUCATION

Depending on the job, educational levels may have a significant impact on pay levels. Be informed and understand how things like education and certifications can help to increase potential earnings for the career you are interested in. Please visit Professional Salary Report for more details.

Average Salary Range for Loans Manager in Springfield, IL

Average Base Salary

Core compensation

142942

192601

171013

Average Total Cash Compensation

Includes base and annual incentives

157445

238759

194846

What is the average salary for Loans Manager in 2024?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Loans Manager in Springfield, IL. The base salary for Loans Manager ranges from $142,942 to $192,601 with the average base salary of $171,013. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $157,445 to $238,759 with the average total cash compensation of $194,846.

View Average Salary for Loans Manager as table

	Average Salary	Average Salary Range
Base Salary	$171,013	$142,942 - $192,601
Bonus	$23,833	$14,503 - $46,158
Total Pay	$194,846	$157,445 - $238,759

* 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.

Loans Manager Salary Near Springfield, IL

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Springfield, IL
CITY, STATE Normal, IL	AVERAGE SALARY RANGE $141,167 - $190,211	COMPARE TO Springfield, IL
CITY, STATE Bloomington, IL	AVERAGE SALARY RANGE $140,775 - $189,682	COMPARE TO Springfield, IL
CITY, STATE Peoria, IL	AVERAGE SALARY RANGE $142,337 - $191,787	COMPARE TO Springfield, IL
CITY, STATE Champaign, IL	AVERAGE SALARY RANGE $139,760 - $188,314	COMPARE TO Springfield, IL
CITY, STATE Florissant, MO	AVERAGE SALARY RANGE $144,857 - $195,182	COMPARE TO Springfield, IL
CITY, STATE Saint Louis, MO	AVERAGE SALARY RANGE $145,093 - $195,500	COMPARE TO Springfield, IL

See salaries for Loans Manager in locations close to Springfield, IL. 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 Springfield, Illinois

Springfield is the capital of the U.S. state of Illinois and the county seat of Sangamon County. The city's population of 116,250 as of the 2010 U.S. Census makes it the state's sixth most populous city. It is the largest city in central Illinois. As of 2013, the city's population was estimated to have increased to 117,006, with just over 211,700 residents living in the Springfield Metropolitan Statistical Area, which includes Sangamon County and the adjacent Menard County. Present-day Springfield was settled by European Americans in the late 1810s, around the time Illinois became a state. The...

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

View Salary for Similar Jobs to Loans Manager in Springfield, IL

See Additional Similar Jobs

Loading results...

JOB TITLE	LOCATION	MINIMUM SALARY	MAXIMUM SALARY
JOB TITLE Underwriting Manager - Mortgage Loans	LOCATION Springfield, IL	MINIMUM SALARY $86,500	MAXIMUM SALARY $121,700
JOB TITLE Processing Manager - Mortgage Loans	LOCATION Springfield, IL	MINIMUM SALARY $84,100	MAXIMUM SALARY $113,400
JOB TITLE Specialist I - Mortgage Loans	LOCATION Springfield, IL	MINIMUM SALARY $41,490	MAXIMUM SALARY $56,290
JOB TITLE Specialist II - Mortgage Loans	LOCATION Springfield, IL	MINIMUM SALARY $56,090	MAXIMUM SALARY $76,190
JOB TITLE Officer, Entry - Mortgage Loans	LOCATION Springfield, IL	MINIMUM SALARY $41,500	MAXIMUM SALARY $56,300
JOB TITLE Officer, Experienced - Mortgage Loans	LOCATION Springfield, IL	MINIMUM SALARY $56,100	MAXIMUM SALARY $76,200

The Loans Manager job could be listed using titles that are not exactly the same, but actually are for the same or very similar job. Here are some job titles in Springfield, IL that might be a good fit for the type of job and salary you are looking for.

Discover how your pay is adjusted for skills, experience, and other factors

How much should you be paid?

For a real-time salary target, tell us more about your role in the four categories below.