Commercial Loan Officer I Salary in Royal Oak, Michigan
Commercial Loan Officer I Salary in Royal Oak, MI
How much does a Commercial Loan Officer I make in Royal Oak, MI? The average Commercial Loan Officer I salary in Royal Oak, MI is $72,493 as of March 26, 2024, but the range typically falls between $63,474 and $83,036. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
| Percentile | Salary | Location | Last Updated |
| 10th Percentile Commercial Loan Officer I Salary | $55,263 | Royal Oak,MI | March 26, 2024 |
| 25th Percentile Commercial Loan Officer I Salary | $63,474 | Royal Oak,MI | March 26, 2024 |
| 50th Percentile Commercial Loan Officer I Salary | $72,493 | Royal Oak,MI | March 26, 2024 |
| 75th Percentile Commercial Loan Officer I Salary | $83,036 | Royal Oak,MI | March 26, 2024 |
| 90th Percentile Commercial Loan Officer I Salary | $92,635 | Royal Oak,MI | March 26, 2024 |
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What skills does a Commercial Loan Officer I need?
Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Client Relationship: Client relationship managemen is focused on building relationships with clients to ensure that their needs are met, they are satisfied with the services and/or products provided by the company.
Financial Statements: Obtaining and creating formal records of business activities and cash flows to provide results for financial performance.
Job Description for Commercial Loan Officer I
Commercial Loan Officer I solicits and services a variety of smaller commercial loans. Performs a due diligence review of potential borrowers, including a risk and financial analysis. Being a Commercial Loan Officer I approves loans within established limits or presents to loan committee for approval. Monitors and maintains existing commercial loan portfolio. Additionally, Commercial Loan Officer I adheres to all regulatory requirements and internal risk and operating policies and procedures. May assist senior loan officers with larger or more complex loans. Typically requires a bachelor's degree. Typically reports to a manager. The Commercial Loan Officer I work is closely managed. Works on projects/matters of limited complexity in a support role. To be a Commercial Loan Officer I typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)... View full job description
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Career Path for Commercial Loan Officer I
A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.
For Commercial Loan Officer I, the upper level is Commercial Loan Officer II and then progresses to Commercial Loan Officer IV.
What does a Commercial Loan Officer I do?
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Commercial Loan Officer I Pay Difference by Location
Commercial Loan Officer I salary varies from city to city. Compared with national average salary of Commercial Loan Officer I, the highest Commercial Loan Officer I salary is in San Francisco, CA, where the Commercial Loan Officer I salary is 25.0% above. The lowest Commercial Loan Officer I salary is in Miami, FL, where the Commercial Loan Officer I salary is 3.5% lower than national average salary.
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About Royal Oak, Michigan
Similar Jobs to Commercial Loan Officer I
| Job Title | Experience | EDUCATION | Salary Compared to This Job |
|---|---|---|---|
| Job Title Commercial Loan Business Development Officer I | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
| Job Title Commercial Loan Officer II | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
| Job Title Commercial Loan Officer III | Experience 4 - 7 | EducationBachelors | Salary Compared to This Job |
| Job Title Commercial Loan Officer IV | Experience 7 + | EducationBachelors | Salary Compared to This Job |
| Job Title Commercial Loan Officer V | Experience 10 + | EducationBachelors | Salary Compared to This Job |
Level of Education for Commercial Loan Officer I
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About Royal Oak, Michigan Royal Oak is a city in Oakland County in the U.S. state of Michigan. It is a suburb of Detroit. As of the 2010 census, the city had a population of 57....More
Royal Oak, Michigan area prices were up 1.2% from a year ago View the Cost of Living in Royal Oak, Michigan
Commercial Loan Officer I Salary in popular cities: Detroit, Grand Rapids, Warren
Skills associated with Commercial Loan Officer I: Loan Software, Commercial Customer Development, Risk Analysis, Due Diligence ...More
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Salary estimation for Commercial Loan Officer I at companies like : Sky Morning Industry Inc, M T Industries Inc, Medicaid Services