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Loan Specialist - Federal Salaries of 2020

Pay Rates for "Loan Specialist"

How much does a Loan Specialist in the federal government get paid? $70,741.95* *Based on the 2020 average.

Loan Specialist was the 42nd most popular job in the U.S. Government in 2020, with 7,609 employed. The most common payscale was the general schedule payscale.

In 2020, the Small Business Administration hired the most employees titled Loan Specialist, with an average salary of $59,373.

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.

Job Description

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.

Administrative and Management positions have a wide range of responsibilities. Management does not refer specifically to supervisors who directly manage organizations or teams. Rather jobs in this category deal with managing systems or processes such as finances, security systems, training programs, or marketing. For employees in this job category, promotions are typically given 2 grade increments at a time until GS-12 is reached.

Agencies that have hired a Loan Specialist

Loan Specialist Pay Distribution

The average pay for a Loan Specialist is $70,741.95. The highest paid Loan Specialist made $184,748 in 2020.

Common Loan Specialist Payscales

Payscale Number of Loan Specialist Employees
GS - General Schedule 7,590
ZA - Administrative 11
SL - Senior Level Positions 5
GM - Employees Covered By The Performance Management And Recognition System (pmrs) Termination Provisions 3

Starting Paygrade: $27,782.00 / year base pay at paygrade GS-4, Step 1
Maximum Paygrade: $146,757.00 / year base pay at paygrade GS-15, Step 10
Category: Administrative and Management

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 ExaminingClerical and Administrative SupportGS-1GS-9
Wage and Hour InvestigationAdministrative and ManagementGS-4GS-15
Building ManagementAdministrative and ManagementGS-4GS-15
Equipment, Facilities, and Services AssistanceClerical and Administrative SupportGS-1GS-9
Visual InformationAdministrative and ManagementGS-4GS-15

Average Loan Specialist Pay Trend from 2004 to 2020

In 2004, the average pay for a Loan Specialist was $62,503. Since then, the average pay has increased to $70,742 in 2020.

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.

** This Document Provided By - The Civil Employee's Resource **