Home > Salary > Iceland > Loan Servicing Specialist
A loan servicing specialist is responsible for managing and overseeing the repayment process of loans. They work in financial institutions, such as banks or mortgage companies, and act as a liaison between borrowers and lenders. Their main duties include processing loan payments, maintaining accurate records of loan transactions, and ensuring compliance with loan terms and regulations. Loan servicing specialists also handle customer inquiries, resolve any issues or disputes related to loan payments, and assist with loan modifications or refinancing requests. They must have a strong understanding of loan products, financial regulations, and excellent communication skills to effectively communicate with borrowers and provide them with accurate information.
Estimated Yearly Salary: 7,249,874 ISK
Estimated Monthly Salary: 604,156 ISK
Estimated Weekly Salary: 139,421 ISK per week
Estimated Hourly Salary: 3,486 ISK per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 584,834 ISK
Estimated Weekly Salary: 134,962 ISK per week
Estimated Hourly Salary: 3,374 ISK per hour
Last revision of data: 2024-01-02
Estimated Yearly Salary: 50,601 USD
Estimated Monthly Salary: 4,217 USD
Estimated Weekly Salary: 973 USD per week
Estimated Hourly Salary: 24 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 7,249,874 ISK
Estimated Monthly Salary: 604,156 ISK
Estimated Weekly Salary: 139,421 ISK per week
Estimated Hourly Salary: 3,486 ISK per hour
By working as Loan Servicing Specialist a person can save up to 1,488 USD per month or 17,855 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.
Estimated Yearly Salary for Loan Servicing Specialist
Last revision of data: 2025-01-04
Data as of 2025
Random salary:
National category manager (13,693,219 ISK per year, pre-tax.)
Diesel mechanic helper (3,716,726 ISK per year, pre-tax.)
Trading analyst (11,097,756 ISK per year, pre-tax.)
Flight engineer (9,726,920 ISK per year, pre-tax.)
University instructor (6,247,365 ISK per year, pre-tax.)
Loan Servicing Specialist salary in Iceland
Average Yearly Salary of Loan Servicing Specialist in Iceland is approximately 7,249,874 ISK (50,601 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 Servicing Specialist do?
A loan servicing specialist is responsible for managing and overseeing the repayment process of loans. They work in financial institutions, such as banks or mortgage companies, and act as a liaison between borrowers and lenders. Their main duties include processing loan payments, maintaining accurate records of loan transactions, and ensuring compliance with loan terms and regulations. Loan servicing specialists also handle customer inquiries, resolve any issues or disputes related to loan payments, and assist with loan modifications or refinancing requests. They must have a strong understanding of loan products, financial regulations, and excellent communication skills to effectively communicate with borrowers and provide them with accurate information.
Skills: loan servicing, financial institution, loan repayment, customer service, loan management, compliance.
Job industry: Finance
Job industry: Finance
How much does Loan Servicing Specialist make?
Salary details
How much does Loan Servicing Specialist make?Estimated Yearly Salary: 7,249,874 ISK
Estimated Monthly Salary: 604,156 ISK
Estimated Weekly Salary: 139,421 ISK per week
Estimated Hourly Salary: 3,486 ISK per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 7,018,011 ISKEstimated Monthly Salary: 584,834 ISK
Estimated Weekly Salary: 134,962 ISK per week
Estimated Hourly Salary: 3,374 ISK per hour
Last revision of data: 2024-01-02Loan Servicing Specialist estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 50,601 USD
Estimated Monthly Salary: 4,217 USD
Estimated Weekly Salary: 973 USD per week
Estimated Hourly Salary: 24 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
Please type in your occupation and select desired country to see latest trends in salaries.
Country:
Salary comparison to National average
Iceland, a Nordic island country located in the North Atlantic Ocean, is known for its stunning natural landscapes and unique geological features. With a population of approximately 366,000 people, Iceland is one of the least densely populated countries in Europe. The country covers an area of about 103,000 square kilometers, making it the 18th largest island in the world.
Estimated national average yearly salary is 8,949,782 ISK (68,220 USD). Value indicated is pre-tax. Below graph shows estimated Loan Servicing Specialist job salary compared to average salary in Iceland.
Comparison shows that a person working as Loan Servicing Specialist in Iceland earns on average:
0.81 times the average salary (or 81% of average salary).
Estimated national average yearly salary is 8,949,782 ISK (68,220 USD). Value indicated is pre-tax. Below graph shows estimated Loan Servicing Specialist job salary compared to average salary in Iceland.
Comparison shows that a person working as Loan Servicing Specialist in Iceland earns on average:
0.81 times the average salary (or 81% of average salary).
Is Loan Servicing Specialist a well paid job?
No / we do not have enough data to assess this.What is considered a high salary for Loan Servicing Specialist?
High salary for Loan Servicing Specialist would be somewhere between 7,974,861 ISK and 10,512,317 ISK. However this is an estimation based on Gaussian Distribution.How much can you save working as Loan Servicing 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: 7,249,874 ISK
Estimated Monthly Salary: 604,156 ISK
Estimated Weekly Salary: 139,421 ISK per week
Estimated Hourly Salary: 3,486 ISK per hour
By working as Loan Servicing Specialist a person can save up to 1,488 USD per month or 17,855 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 Servicing Specialist
Norway is 70,897 USD
United Kingdom is 33,325 USD
Last revision of data: 2025-01-04Salary 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 increaseTop 10 highest salaries in Iceland
(101,519,791 ISK per year, pre-tax.)
2. Cardiologist
(84,892,494 ISK per year, pre-tax.)
(82,036,676 ISK per year, pre-tax.)
4. Neurosurgeon
(79,530,435 ISK per year, pre-tax.)
(79,217,486 ISK per year, pre-tax.)
(77,544,423 ISK per year, pre-tax.)
(77,443,218 ISK per year, pre-tax.)
(77,278,803 ISK per year, pre-tax.)
9. Oncologist
(77,260,671 ISK per year, pre-tax.)
(77,231,503 ISK per year, pre-tax.)
Data as of 2025Random salary:
National category manager (13,693,219 ISK per year, pre-tax.)
Diesel mechanic helper (3,716,726 ISK per year, pre-tax.)
Trading analyst (11,097,756 ISK per year, pre-tax.)
Flight engineer (9,726,920 ISK per year, pre-tax.)
University instructor (6,247,365 ISK per year, pre-tax.)
Feedback about these results
Please provide feedback by clicking buttons below if you find any of our salaries erroneous.
Link to this graph - use the following code to display the salary graph on your page:
<a href='https://optisalary.com/salary?country=iceland&job=loan-servicing-specialist'><img src='https://optisalary.com/wp-content/graphs/salary/loan-servicing-specialist-salary-in-iceland-2025.jpg' alt='loan servicing specialist salary in iceland 2025' title='loan servicing specialist salary in iceland 2025' /></a>
Please note:The salary figures on this website are meant for informational purposes only.
This website presents salary data for informational purposes only. We strive to provide reliable figures, but do not guarantee their validity. Users are encouraged to consult alternative sources before making financial choices. Salary amounts can fluctuate due to geographic location, experience, and industry trends. We assume no liability for errors in the salary information provided. Your continued use with this site indicates understanding of this disclaimer.
This website aggregates salary information for reference purposes exclusively. While we strive to present accurate estimates, we do not ensure their full reliability. Users are highly encouraged to check with additional databases before making financial plans. Salary figures fluctuate based on several factors, such as industry trends, negotiation power, and regional demand. We do not offer any guarantees as to the correctness of the listed information. Your use of this site indicates acceptance of this notice.