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Loan Specialist - Federal Salaries of 2021
Pay Rates for "Loan Specialist"
How much does a Loan Specialist in the federal government get paid? $74,341.04* *Based on the 2021 average.Loan Specialist was the 47th most popular job in the U.S. Government in 2021, with 6,934 employed. The most common payscale was the general schedule payscale.
In 2021, the Small Business Administration hired the most employees titled Loan Specialist, with an average salary of $63,998.
Government Loan Specialist jobs are classified under the General Schedule (GS) payscale. The minimum paygrade for a Loan Specialist job is GS-4, and the highest paygrade that can be attained within this job series is GS-15. Remember that the starting and maximum yearly pay listed above reflect base pay only - your actual salary will be higher based on the Locality Pay Adjustment for the area in which you work.
This occupation includes all positions the duties of which are to direct or perform analytical and evaluative work which requires knowledge of (1) credit risk factors and lending principles involved in loans of specialized types granted, insured, or guaranteed by the Federal Government; (2) financial structures and practices of business organizations concerned with such loans; and (3) pertinent statutory, regulatory, and administrative provisions.
Agencies that have hired a Loan Specialist
| Agency | Employees Hired | Average Salary |
|---|---|---|
| Small Business Administration | 3,116 | $63,997.93 |
| Rural Housing Service | 1,877 | $80,289.74 |
| Farm Service Agency | 1,365 | $78,577.13 |
| Veterans Benefits Administration | 416 | $86,511.02 |
| Export-Import Bank of the United States | 104 | $143,516.89 |
| Department of Energy | 25 | $136,294.40 |
| National Oceanic and Atmospheric Administration | 12 | $114,018.92 |
| Office of the Secretary of the Interior | 8 | $122,510.00 |
| Assistant Secretary for Public and Indian Housing | 4 | $94,583.00 |
| Departmental Offices | 3 | $150,039.00 |
| Assistant Secretary for Community Planning and Development | 2 | $152,307.00 |
| Maritime Administration | 1 | $143,450.00 |
| Assistant Secretary for Housing-Federal Housing Commissioner | 1 | $161,041.00 |
Loan Specialist Pay Distribution
The average pay for a Loan Specialist is $74,341.04. The highest paid Loan Specialist made $192,138 in 2021.
Common Loan Specialist Payscales
| Payscale | Number of Loan Specialist Employees |
|---|---|
| GS - General Schedule | 6,909 |
| ZA - Administrative | 12 |
| AD - Administratively Determined Rates, Not Elsewhere Specified | 6 |
| SL - Senior Level Positions | 6 |
| GM - Employees Covered By The Performance Management And Recognition System (pmrs) Termination Provisions | 1 |
| Starting Paygrade: | $28,921.00 / year base pay at paygrade GS-4, Step 1 |
| Maximum Paygrade: | $152,771.00 / year base pay at paygrade GS-15, Step 10 |
| Category: | Administrative and Management |
| Occupation Family: | 1100 BUSINESS AND INDUSTRY GROUP |
Other Jobs at the GS-4 Paygrade
GS-4 is the starting paygrade for Loan Specialist jobs. Here are some other Federal Government jobs that can be held by employees at the GS-4 paygrade.
| Occupation | Occupation Category | Starting Paygrade | Maximum Paygrade |
|---|---|---|---|
| Tax Examining | Clerical and Administrative Support | GS-1 | GS-9 |
| Wage and Hour Investigation | Administrative and Management | GS-4 | GS-15 |
| Building Management | Administrative and Management | GS-4 | GS-15 |
| Equipment, Facilities, and Services Assistance | Clerical and Administrative Support | GS-1 | GS-9 |
| Visual Information | Administrative and Management | GS-4 | GS-15 |
Average Loan Specialist Pay Trend from 2004 to 2021
In 2004, the average pay for a Loan Specialist was $62,503. Since then, the average pay has increased to $74,341 in 2021.
Data Sources
The information provided on these pages is sourced from the Office of Personnel Management (OPM) 
Enterprise Human Resources Integration (EHRI) dataset. Postal Service data is managed exclusively by the USPS . All information is displayed unmodified and as provided by the source agency.
Federal employee salaries are public information under open government laws (5 U.S.C. § 552). FederalPay provides this data in the interest of government transparency — employee data may not be used for commercial soliciting or vending of any kind. Learn more about the FederalPay Employees Dataset here.
The series code of this occupation is 1165.