How much does a Loan Specialist make in Troy, MI?
In Troy, Michigan, a Loan Specialist typically earns a competitive salary. The average yearly salary for a Loan Specialist in this area is around $197,224. This figure highlights the strong earning potential for individuals in this role. The salary can vary based on experience, qualifications, and the specific employer.
To give a clearer picture, here is a snapshot of salary distribution for Loan Specialists in Troy, MI:
- The lowest 10% earn about $30,000 annually.
- The next 10% earn about $81,818 per year.
- The majority, around 32.40%, earn about $133,636.
- As earnings increase, the top 10% earn over $496,364 annually.
What are the highest paying cities for a Loan Specialist near Troy, MI?
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Birmingham, MI
Average Salary: $218,333
Working in Birmingham offers a stable job market with numerous financial institutions. Many professionals find roles at local banks and credit unions. The area values experienced specialists who can help clients with mortgages and loans.
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Dearborn, MI
Average Salary: $168,346
Dearborn boasts a vibrant business environment, making it a great place to work in finance. Job seekers can explore opportunities at various banks and financial service companies. The city’s diverse economy supports growth in loan specialist roles.
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Royal Oak, MI
Average Salary: $158,750
Royal Oak provides a dynamic setting for loan specialists, with plenty of opportunities in local banks and credit unions. The area values professionals who can offer personalized loan services to clients. The city’s growing businesses create a steady demand for skilled specialists.
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Rochester Hills, MI
Average Salary: $146,875
Rochester Hills has a strong financial sector, offering many options for loan specialists. Companies in the area appreciate those who can navigate the loan process effectively. Working here means helping clients achieve their financial goals.
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Southfield, MI
Average Salary: $144,150
Southfield is home to numerous financial institutions, creating a wealth of opportunities for loan specialists. The city’s businesses seek experts who can manage loans and provide excellent customer service. Job seekers can find roles at major banks and credit unions.
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Farmington Hills, MI
Average Salary: $140,179
Farmington Hills offers a supportive environment for financial professionals. Many job seekers find roles in local banks and financial service companies. The city values specialists who can assist clients with their loan needs.
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Novi, MI
Average Salary: $115,875
Novi provides a growing market for loan specialists, with many opportunities in local financial institutions. Companies in the area look for professionals who can help clients with loans and mortgages. The city’s business environment supports career growth in this field.
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Livonia, MI
Average Salary: $102,796
Livonia offers a stable job market for loan specialists, with many positions available in local banks and credit unions. The city values experts who can manage loan processes and provide excellent service. Job seekers can find rewarding roles in this area.
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Sterling Heights, MI
Average Salary: $95,853
Sterling Heights has a strong financial sector, offering various opportunities for loan specialists. Local businesses seek professionals who can assist clients with their loan needs. The city’s economy supports career development in this field.
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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: $330,838
United Mortgage Lending offers Loan Specialist jobs in Troy, MI. The company has multiple branches and helps clients with various mortgage services. They focus on providing personalized loan options.
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eMortgage Funding
Average Salary: $162,500
eMortgage Funding provides opportunities for Loan Specialists in Troy, MI. They specialize in online mortgage services and aim to offer a fast and easy loan process.
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Peoples Bank and Trust
Average Salary: $155,000
Peoples Bank and Trust has Loan Specialist roles available in Troy, MI. This bank offers a range of financial services and values knowledgeable staff who can help clients with their loans.
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MortgagePros
Average Salary: $143,304
MortgagePros is hiring Loan Specialists in Troy, MI. They focus on providing professional mortgage services with a personal touch, helping clients find the best loan options.
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Rapid Mortgage Funding
Average Salary: $142,125
Rapid Mortgage Funding has Loan Specialist positions in Troy, MI. They offer quick and efficient mortgage services and aim to make the loan process as smooth as possible for clients.
What are the best paying Loan Specialist related jobs in Troy, MI?
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Portfolio Manager
Average Salary: $167,300
Manages client assets and ensures investments align with client goals. Works closely with banks and financial institutions. Requires strong analytical skills and financial knowledge.
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Underwriter
Average Salary: $117,428
Evaluates loan applications to determine the risk level. Works for insurance companies or banks. Involves analyzing financial statements and credit history.
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Financial Advisor
Average Salary: $116,545
Provides advice on investment strategies and financial planning. Works with individuals and businesses. Needs to understand market trends and client needs.
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Sales Specialist
Average Salary: $116,152
Sells financial products and services to clients. Works in banks or brokerage firms. Requires strong communication and negotiation skills.
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Consumer Banker
Average Salary: $115,450
Helps clients with personal banking needs. Works for commercial banks. Requires customer service skills and knowledge of banking products.
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Mortgage Loan Originator
Average Salary: $110,268
Assists clients in obtaining home loans. Works for mortgage companies. Involves understanding lending criteria and client finances.
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Operations Analyst
Average Salary: $81,700
Analyzes and improves business processes. Works in various sectors, including finance. Requires problem-solving skills and data analysis abilities.
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Commercial Loan Officer
Average Salary: $78,170
Manages loans for businesses. Works for banks or lending institutions. Involves evaluating business plans and financial health.
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Loan Servicing Specialist
Average Salary: $69,743
Manages client loan accounts and payments. Works for financial institutions. Requires attention to detail and customer service skills.
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Branch Manager
Average Salary: $65,543
Supervises day-to-day operations of a branch. Works for banks or credit unions. Needs leadership skills and knowledge of banking services.
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