How much does a Loan Specialist make in Troy, MI?
In Troy, MI, a Loan Specialist can expect to earn a competitive salary. The average yearly salary for this role is around $181,031. This figure reflects the skills and responsibilities that Loan Specialists handle in the area. Their work involves assessing loan applications, managing client relationships, and ensuring compliance with financial regulations.
The salary range for Loan Specialists in Troy, MI, varies widely. The lowest 10% earn about $30,000 annually, while the top 10% can make over $600,000 per year. Most Loan Specialists fall in the middle of this range, with salaries around $133,636 to $237,273. This range shows the potential for growth and advancement in the field. Factors such as experience, education, and specific industry knowledge can influence earnings.
What are the highest paying cities for a Loan Specialist near Troy, MI?
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Birmingham, MI
Average Salary: $295,500
In Birmingham, MI, working as a Loan Specialist offers a chance to collaborate with top financial institutions. The city's affluent environment provides a steady flow of clients seeking mortgage and personal loans.
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Dearborn, MI
Average Salary: $160,227
Dearborn, MI, is a hub for automotive industry jobs, making it a great place for Loan Specialists. With many companies in the area, there are ample opportunities to work with diverse clients.
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Southfield, MI
Average Salary: $157,683
Southfield, MI, is known for its thriving business sector. Loan Specialists here can expect to work with a variety of clients, from individuals to large corporations.
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Rochester Hills, MI
Average Salary: $137,500
Rochester Hills, MI, offers a balanced lifestyle for Loan Specialists. The city's growing economy provides many opportunities in the financial sector.
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Bloomfield Hills, MI
Average Salary: $133,909
Bloomfield Hills, MI, is home to many affluent clients. Loan Specialists here can expect to work with high-net-worth individuals and businesses.
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Farmington Hills, MI
Average Salary: $133,437
Farmington Hills, MI, provides a stable environment for Loan Specialists. The city's diverse economy offers many opportunities in the financial services sector.
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Royal Oak, MI
Average Salary: $127,917
Royal Oak, MI, offers a vibrant community for Loan Specialists. The city's mix of businesses provides a steady flow of clients needing financial services.
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Novi, MI
Average Salary: $123,981
Novi, MI, is a great place for Loan Specialists to work. The city's growing economy offers many opportunities in the financial sector.
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Livonia, MI
Average Salary: $116,278
In Livonia, MI, Loan Specialists can find a mix of residential and commercial clients. The city's diverse economy provides many opportunities in the financial services industry.
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Sterling Heights, MI
Average Salary: $62,182
Sterling Heights, MI, offers a dynamic environment for Loan Specialists. The city's growing population provides many opportunities in the financial sector.
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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: $378,889
United Mortgage Lending offers Loan Specialist jobs in Troy, MI. They focus on providing mortgage solutions and have a strong reputation in the industry. The company operates in multiple locations across the country.
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eMortgage Funding
Average Salary: $162,500
eMortgage Funding provides Loan Specialist positions in Troy, MI. They specialize in mortgage funding and have a team dedicated to helping clients. The company operates in several states, offering diverse opportunities.
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Rapid Mortgage Funding
Average Salary: $155,333
Rapid Mortgage Funding hires Loan Specialists in Troy, MI. They offer quick and efficient mortgage services. The company has offices in various locations, providing a broad range of job opportunities.
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MortgagePros
Average Salary: $124,591
MortgagePros has Loan Specialist jobs in Troy, MI. They focus on providing professional mortgage services. The company operates in multiple locations, offering a variety of roles for candidates.
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LoanCraft, LLC
Average Salary: $65,000
LoanCraft, LLC offers Loan Specialist positions in Troy, MI. They provide personalized mortgage services. The company operates in several locations, giving candidates a range of options.
What are the best paying Loan Specialist related jobs in Troy, MI?
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Portfolio Manager
Average Salary: $156,083
This role involves managing a collection of financial assets. It requires analyzing market trends and making investment decisions. Companies like JPMorgan Chase and Fidelity Investments in Troy, MI, offer such positions.
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Underwriter
Average Salary: $118,862
An underwriter assesses the risk of lending money. They review applications and decide if a loan should be approved. Companies such as State Farm and Allstate in Troy, MI, hire underwriters.
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Sales Specialist
Average Salary: $111,539
Sales specialists promote financial products and services. They work with clients to understand their needs. Companies like Bank of America and Chase Bank in Troy, MI, seek skilled sales specialists.
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Financial Advisor
Average Salary: $105,268
Financial advisors help clients manage their money. They create plans for investments, retirement, and more. Firms such as Edward Jones and Merrill Lynch in Troy, MI, offer these roles.
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Mortgage Loan Originator
Average Salary: $89,604
This position involves helping clients apply for home loans. They guide clients through the application process and explain terms. Companies like Quicken Loans and Rocket Mortgage in Troy, MI, hire loan originators.
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Risk Analyst
Average Salary: $76,600
Risk analysts evaluate potential risks in financial decisions. They provide insights to help companies make informed choices. Firms like Deloitte and PwC in Troy, MI, employ risk analysts.
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Commercial Loan Officer
Average Salary: $75,277
Commercial loan officers handle loans for businesses. They assess the creditworthiness of companies and manage loan portfolios. Banks like Fifth Third Bank and Huntington Bank in Troy, MI, offer these positions.
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Branch Manager
Average Salary: $67,556
Branch managers oversee daily operations at a financial institution. They ensure smooth service and manage staff. Companies such as Wells Fargo and PNC Bank in Troy, MI, have branch managers.
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Consumer Banker
Average Salary: $66,950
Consumer bankers assist clients with personal banking needs. They provide services like checking accounts and personal loans. Banks like TD Bank and U.S. Bank in Troy, MI, hire consumer bankers.
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Operations Analyst
Average Salary: $65,075
Operations analysts improve business processes. They analyze data and recommend changes to increase efficiency. Companies like IBM and Accenture in Troy, MI, seek operations analysts.
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