Loan Administrator salary in Iceland

Average Yearly Salary of Loan Administrator in Iceland is approximately 9,996,942 ISK (70,054 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 Loan Administrator do?

A loan administrator is responsible for overseeing the loan application process, ensuring compliance with lending regulations and policies, and managing loan documentation. They review loan applications, verify information provided by borrowers, and evaluate creditworthiness. Loan administrators also communicate with borrowers to gather additional information or clarify details. They collaborate with underwriters to assess loan risks and make recommendations. Additionally, they prepare loan documents, coordinate loan closings, and ensure timely disbursement of funds. Loan administrators may also handle loan modifications, extensions, and other loan servicing tasks.

Skills: loan administration, loan processing, credit analysis, compliance management, loan documentation, customer service
Job industry: Banking

How much does Loan Administrator make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Loan Administrator a well paid job?

Yes, our data show that Loan Administrator is an averagely well paid job that still allows for some yearly savings. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Loan Administrator?

High salary for Loan Administrator would be somewhere between 10,996,636 ISK and 14,495,566 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loan Administrator 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: 9,996,942 ISK
Estimated Monthly Salary: 833,079 ISK
Estimated Weekly Salary: 192,249 ISK per week
Estimated Hourly Salary: 4,806 ISK per hour
By working as Loan Administrator a person can save up to 3,109 USD per month or 37,308 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 Loan Administrator

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.

Top 10 highest salaries in Iceland

Data as of 2025

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