What are the main factors that influence a Consumer Loan Processor's salary?

The primary factors are: 1) Experience Level, 2) Geographic Location, 3) Education/Skills, 4) Company Size & Industry

How does experience change A Consumer Loan Processor's salary?

A Consumer Loan Processor's salary grows with experience: a Consumer Loan Processor (0-1 years)earns $46,114, a Loan Processor II (1-3 years)earns $51,638, a Loan Processor III (3-5 years)earns $62,532, a Loan Processing Supervisor (5+ years)earns $67,586,

What are the highest paying states for a Consumer Loan Processor?

Consumer Loan Processor salary varies significantly by state. The top 3 highest paying states for Consumer Loan Processor roles are District of Columbia $48,314, California $48,130, Massachusetts $47,489. These tech hubs typically pay 10-15% above the national average.

How much do different types of Consumer Loan Processor roles make?

Salaries for Consumer Loan Processor level roles vary by specialization: Consumer Loan Manager: $102,500; Consumer Loan Officer III: $65,958; Senior Consumer Loan Processor: $59,300; Loan Processor III: $59,204; Consumer Loan Officer II: $56,144.

Consumer Loan Processor Salary in Rhode Island

How much does a Consumer Loan Processor make in Rhode Island?

As of May 18, 2021, the average salary for a Consumer Loan Processor in Rhode Island is $45,556 per year, which breaks down to an hourly rate of $22.

However, a Consumer Loan Processor's salary can vary significantly. Here’s a look at the typical salary range:

Top Earners (90th percentile): $51,375
Majority Range (25th-75th percentile): $42,039 to $48,602
Entry-Level (10th percentile): $38,837

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Consumer Loan Processor Salaries by Percentile

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$48,602	$4,050	$935	$23
Average	$45,556	$3,796	$876	$22
25th Percentile	$42,039	$3,503	$808	$20

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Key Factors That Influence Consumer Loan Processor Salaries

A Consumer Loan Processor's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.

How Do Consumer Loan Processor Salaries Vary from State to State?

Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Consumer Loan Processors. For example, consider the average annual salaries in these key locations:

District of Columbia: $48,314.
California: $48,130.
Massachusetts: $47,489.

District of Columbia $48,314 California $48,130 Massachusetts $47,489 Washington $47,314 New Jersey $47,297 Alaska $47,236 Connecticut $46,634 New York $46,389

Hawaii $45,608 Rhode Island $45,242 Maryland $44,993 Minnesota $44,653 Colorado $44,522 Illinois $44,478 Oregon $44,312 Delaware $44,190

New Hampshire $44,113 Virginia $43,941 Pennsylvania $43,440 Nevada $43,186 North Dakota $43,104 Michigan $42,973 Wisconsin $42,925 Vermont $42,829

Texas $42,562 Maine $42,545 Arizona $42,519 Ohio $42,488 Georgia $42,087 Indiana $41,886 Wyoming $41,847 Utah $41,786

Iowa $41,760 Kansas $41,550 Louisiana $41,489 North Carolina $41,467 Missouri $41,459 Florida $41,288 Montana $41,197 Nebraska $41,109

Kentucky $41,061 South Carolina $40,887 Tennessee $40,778 Idaho $40,734 New Mexico $40,416 Oklahoma $40,346 Alabama $40,088 South Dakota $39,656

Arkansas $39,421 West Virginia $39,294 Mississippi $38,915

Top Paying Cities for Consumer Loan Processors

Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:

Adamsville: $45,984
Albion: $45,220
Ashaway: $46,158

Adamsville, RI $45,984 Albion, RI $45,220 Ashaway, RI $46,158 Barrington, RI $45,220 Block Island, RI $45,918 Bradford, RI $46,128 Bristol, RI $45,176 Carolina, RI $45,752

Charlestown, RI $45,800 Chepachet, RI $45,133 Clayville, RI $45,176 Coventry, RI $45,133 West Greenwich, RI $45,102 East Greenwich, RI $45,163 Exeter, RI $46,128 Fiskeville, RI $45,220

Forestdale, RI $45,176 Foster, RI $45,102 Glendale, RI $45,102 Greene, RI $45,608 Greenville, RI $45,220 Harmony, RI $45,207 Harrisville, RI $45,133 Hope, RI $45,220

Hope Valley, RI $46,158 Hopkinton, RI $46,171 Jamestown, RI $45,709 Kenyon, RI $46,114 Little Compton, RI $45,966 Manville, RI $45,220 Mapleville, RI $45,102 Newport, RI $45,717

Middletown, RI $45,909 North Kingstown, RI $45,089 North Scituate, RI $45,207 Oakland, RI $45,146 Pascoag, RI $45,120 Pawtucket, RI $45,220 Central Falls, RI $45,220 Cumberland, RI $45,220

Lincoln, RI $45,220 Portsmouth, RI $45,534 Prudence Island, RI $45,133 Rockville, RI $46,171 Saunderstown, RI $45,735 Shannock, RI $46,101 Slatersville, RI $45,176 Slocum, RI $45,735

Tiverton, RI $45,997 Wakefield, RI $45,687 Kingston, RI $45,696 Narragansett, RI $45,704 Peace Dale, RI $45,687 Warren, RI $45,207 Warwick, RI $45,220 Westerly, RI $46,184

West Kingston, RI $45,722 West Warwick, RI $45,220 Wood River Junction, RI $46,128 Woonsocket, RI $45,176 North Smithfield, RI $45,207 Wyoming, RI $46,114 Providence, RI $45,220 Cranston, RI $45,220

North Providence, RI $45,220 East Providence, RI $45,220 Riverside, RI $45,220 Rumford, RI $45,220 Smithfield, RI $45,220 Johnston, RI $45,220

Consumer Loan Processor Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how a Consumer Loan Processor's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.

Last Updated on May 18, 2021

$42,039

Average $45,556/year

$48,602

$3,503

Average $3,796/month

$4,050

$808

Average $876/week

$935

$20

Average $22/hour

$23

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$48,602	$4,050	$935	$23
Average	$45,556	$3,796	$876	$22
25th Percentile	$42,039	$3,503	$808	$20

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