How much does a Loan Specialist make in Troy, MI?
A Loan Specialist in Troy, MI, often finds themselves earning a competitive salary. On average, the yearly income stands at $182,673. This figure represents the median earnings, providing a central benchmark for professionals in this role.
To provide a clearer picture, the salary range for Loan Specialists in this area varies. The distribution shows that a significant portion, about 38.83%, earn between $133,636 and $185,455 annually. This range suggests that many specialists find themselves in the middle tier of earners, balancing experience and industry standards. Further breaking down the distribution, it is noticeable that fewer specialists earn at the higher and lower ends of the scale, with only a small percentage earning below $30,000 or surpassing $392,727 each year.
What are the highest paying cities for a Loan Specialist near Troy, MI?
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Birmingham, MI
Average Salary: $382,500
In Birmingham, working as a Loan Specialist offers an opportunity to engage with a variety of financial institutions. The area is home to reputable banks like Fifth Third Bank and Huntington Bank, providing a strong professional environment.
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Dearborn, MI
Average Salary: $160,227
Dearborn provides a dynamic landscape for those in the lending industry. With major employers like Ford Motor Company, Loan Specialists can find diverse job opportunities that involve working with a wide range of clients.
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Southfield, MI
Average Salary: $158,303
Southfield, known for its corporate presence, is an ideal city for Loan Specialists. Companies such as Quicken Loans and Guardian Financial Services offer robust platforms for professionals in this field.
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Rochester Hills, MI
Average Salary: $145,000
Rochester Hills is a city where Loan Specialists can thrive in a supportive business environment. The presence of companies like PNC Bank and Webster Bank provide excellent opportunities for career growth.
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Farmington Hills, MI
Average Salary: $137,377
In Farmington Hills, Loan Specialists can work in a community that values finance and banking. Organizations like Chase and TD Bank offer stable and rewarding job prospects.
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Bloomfield Hills, MI
Average Salary: $128,691
Bloomfield Hills is a place where lending professionals can find a range of job opportunities. The area is home to notable banks such as First National Bank and Comerica Bank, fostering a thriving finance sector.
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Royal Oak, MI
Average Salary: $127,917
Royal Oak offers a lively setting for those in the lending field. With local banks like Ally Financial and Comerica Bank, Loan Specialists can expect a dynamic work environment.
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Novi, MI
Average Salary: $120,500
Novi provides a great opportunity for Loan Specialists to work in a prosperous financial hub. The area includes leading institutions like Fifth Third Bank and Huntington Bank, which are always on the lookout for skilled professionals.
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Livonia, MI
Average Salary: $113,810
In Livonia, Loan Specialists can find fulfilling careers with a variety of financial institutions. The city is known for its strong presence of banks like TD Bank and Fifth Third Bank.
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Sterling Heights, MI
Average Salary: $62,182
Sterling Heights offers a range of job opportunities for Loan Specialists. The city is home to banks like PNC Bank and Comerica Bank, providing a stable and rewarding work environment.
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What are the best paying companies for a Loan Specialist in Troy, MI?
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United Mortgage Lending
Average Salary: $370,833
United Mortgage Lending offers competitive salaries for Loan Specialist roles. Their Loan Specialists work in various locations, including Troy, MI, and across the country. The company provides a dynamic work environment where Loan Specialists can grow their careers.
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eMortgage Funding
Average Salary: $162,500
eMortgage Funding pays its Loan Specialists well, with an average salary of $162,500. They offer positions in Troy, MI, and other major cities. Here, Loan Specialists handle mortgage loans, and the company provides a supportive team.
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Rapid Mortgage Funding
Average Salary: $155,333
Rapid Mortgage Funding offers an average salary of $155,333 for Loan Specialists in Troy, MI. They focus on providing quality mortgage services. The company operates in several key locations, offering Loan Specialists a chance to build their career.
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MortgagePros
Average Salary: $120,850
MortgagePros has an average salary of $120,850 for Loan Specialists in Troy, MI. They offer a supportive work environment with good growth opportunities. Loan Specialists can find jobs in Troy and other areas, working closely with clients.
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LoanCraft, LLC
Average Salary: $65,000
LoanCraft, LLC provides a starting salary of $65,000 for Loan Specialists in Troy, MI. The company focuses on delivering quality loan services. Job opportunities are available in Troy and other locations, ideal for those starting their career.
What are the best paying Loan Specialist related jobs in Troy, MI?
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Portfolio Manager
Average Salary: $167,300
This role focuses on overseeing an investment portfolio. It requires good analytical skills to manage assets effectively. Companies in Troy, like investment firms, often seek these professionals.
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Underwriter
Average Salary: $117,959
An underwriter evaluates the risk of loan applications. They decide on loan approval and terms. This role is crucial at banks and credit institutions in Troy.
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Sales Specialist
Average Salary: $112,032
Sales specialists sell financial products to clients. They need strong communication skills to persuade potential customers. Many banks and financial companies in Troy look for these professionals.
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Financial Advisor
Average Salary: $109,114
Advisors help clients make smart financial decisions. They provide guidance on investments, savings, and retirement planning. Wealth management firms in Troy value these professionals.
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Consumer Banker
Average Salary: $91,200
Consumer bankers interact with customers to offer financial services. They provide loans and answer questions about banking products. Troy banks need these friendly and knowledgeable individuals.
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Mortgage Loan Originator
Average Salary: $89,020
This role involves helping clients apply for mortgage loans. Originators assess creditworthiness and guide clients through paperwork. Mortgage companies in Troy seek these detail-oriented professionals.
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Commercial Loan Officer
Average Salary: $75,277
Loan officers for businesses assess commercial loans. They analyze financial statements to approve loans. Banks in Troy often look for experienced loan officers to help businesses grow.
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Branch Manager
Average Salary: $66,160
Branch managers oversee daily operations at a bank branch. They ensure smooth customer service and staff efficiency. Banks in Troy need strong leaders for this role.
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Operations Analyst
Average Salary: $65,075
Analysts review and improve processes within a financial institution. They identify areas for efficiency and cost savings. Troy banks value analysts who can optimize operations.
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Loan Processor
Average Salary: $60,234
Loan processors handle the paperwork for loan applications. They ensure all documents are complete and accurate. This role is essential at lending companies in Troy.
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