I found the average salary for the mortgage industry in the U.S. for loan processors, loan officers, processing managers, administrative personnel, mortgage originators, and senior mortgage loan processors.
Honestly, I expected the numbers to be a bit higher. Of course the average salaries in this part of the financial sector vary a lot by region, but I really thought these averages are quite low. My guess is that mortgage jobs in New York or Los Angeles probably pay 50% more or better than this average, but that’s just a guess.
Do the following average salaries for jobs in the mortgage/ lending industry seem realistic to you?
MORTGAGE LOAN PROCESSOR $35,104
LOAN PROCESSOR $39,453
LOAN OFFICER $34,968
MORTGAGE PROCESSING MANAGER $47,171
SENIOR MORTGAGE LOAN PROCESSOR $38,852
MORTGAGE ORIGINATOR $49,132
OFFICE MANAGER/ADMINISTRATIVE $34,966
A mortgage broker will usually make more as they gain experience, just like every other job, but the rise in pay with experience was also lower than I expected. I found that the average mortgage broker will make $39,546 after five years, and $52,041 after twenty years. That is a salary increase of just over 32% for 15 more years in the mortgage business. Is it just me, or is that figure low?
Do these figures seem low to you all, or do you see similar salaries in your region?
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