Loan Operations Specialist salary in Iceland

Average Yearly Salary of Loan Operations Specialist in Iceland is approximately 6,840,826 ISK (47,845 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 Operations Specialist do?

A loan operations specialist is responsible for managing the operational aspects of loan processing within a financial institution. They ensure that loan applications are accurately processed, documentation is complete, and loan disbursements are made in a timely manner. Their duties include reviewing loan documents, verifying borrower information, coordinating with loan officers and underwriters, and maintaining loan files. They also handle loan servicing activities, such as processing payments, updating loan information, and resolving any issues related to loan accounts. Additionally, loan operations specialists may assist in preparing reports, conducting audits, and ensuring compliance with regulatory requirements.

Skills: loan operations, loan processing, loan documentation, loan servicing, financial institution, compliance.
Job industry: Banking

How much does Loan Operations Specialist make?

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


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Salary comparison to National average

Is Loan Operations Specialist a well paid job?

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

What is considered a high salary for Loan Operations Specialist?

High salary for Loan Operations Specialist would be somewhere between 7,524,909 ISK and 9,919,198 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loan Operations Specialist 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: 6,840,826 ISK
Estimated Monthly Salary: 570,069 ISK
Estimated Weekly Salary: 131,554 ISK per week
Estimated Hourly Salary: 3,289 ISK per hour
By working as Loan Operations Specialist a person can save up to 1,258 USD per month or 15,099 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 Operations Specialist

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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