Junior Loan Processor salary in Iceland

Average Yearly Salary of Junior Loan Processor in Iceland is approximately 6,384,852 ISK (44,562 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Junior Loan Processor do?

A junior loan processor is responsible for assisting in the processing and documentation of loan applications. They work closely with senior loan processors and underwriters to gather and verify borrower information, review loan documents for accuracy and completeness, and ensure compliance with lending policies and regulations. Junior loan processors also communicate with borrowers, loan officers, and other parties involved in the loan process to provide updates and resolve any issues that may arise. They may also assist in preparing loan files for submission to underwriting and in coordinating loan closings. This role requires strong attention to detail, excellent organizational skills, and the ability to work effectively in a fast-paced environment.

Skills: loan processing, documentation, loan applications, compliance, communication, attention to detail
Job industry: Finance

How much does Junior Loan Processor make?

Difference in salary year over year or average salary increase is approximately 4 %


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Salary comparison to National average

Is Junior Loan Processor a well paid job?

No, our data shows that Junior Loan Processor is typically not a well-paid job. The salary varies based on experience. Meaning that even though Junior Loan Processor might be a low paying job, with experience the salary might increase to satisfactory levels.

What is considered a high salary for Junior Loan Processor?

High salary for Junior Loan Processor would be somewhere between 7,023,337 ISK and 9,258,035 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Junior Loan Processor in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 6,384,852 ISK
Estimated Monthly Salary: 532,071 ISK
Estimated Weekly Salary: 122,786 ISK per week
Estimated Hourly Salary: 3,070 ISK per hour
By working as Junior Loan Processor a person can save up to 985 USD per month or 11,816 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Junior Loan Processor

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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