Some people want to be the officer of mortgage loan in Bank of America. How about you? Do you have the same interest? Talking about Bank of America mortgage loan officer salary is something important when you really want to be an officer there. So, how much money do you earn from this job?
The Detail of Bank of America Mortgage Loan Officer Salary
Before talking about the exact Bank of America mortgage loan officer salary, it is important for you to know what you get if you are a mortgage loan officer in Bank of America. There are several things you will get as an officer. Of course, you will get base monthly salary. Interestingly, base monthly salary is not the only benefit you can get. The officer of mortgage loan in Bank of America will receive various types of compensations. The salary is not only in the form of money. Bank of America is also giving several additional benefits for their employees including the mortgage loan officers. For example, you will get health insurance. The health insurance for the employees is including for vision and dental care. Moreover, you will also get 401K plan and it is supporting the need of house for the employees. One more additional benefit is vacation and time off payment. In specific, the officer will get 2 weeks vacation and 2 weeks sick time. If you are working outside your regular working time, you will also get additional payment based on the agreement.
The Amount of Based Salary and Compensation from Bank of America
Based on the explanation above, it sounds interesting to be a mortgage loan officer in Bank of America, isn’t it? Now, let’s talk a little bit about the detail of the salary. First, it is stated that you will get base monthly salary. As an officer, you will earn around $33.806 per month. Second, you also enjoy several additional compensations and the total is around $79.337. Those compensations are including stock bonus, profit sharing, cash bonus, and commission sharing. The base salary, compensations, and additional benefits are different for each of the officer. It depends on the working experience of the officer itself. Let say, if the working experience is less than 1 year, it means you will earn around $35.632 per month. The total of your additional compensation is around $70.974. The higher your working experience, the higher the monthly base salary and the compensation. Of course, Bank of America is also seeing your working performance as their consideration. As an officer, one of your jobs is calculating the mortgage loan of your client. But, this job will be a little bit easier because of Bank of America mortgage calculator. Your client can calculate their average mortgage loan by using that online calculator.
So, what do you think after reading the information about Bank of America mortgage loan officer salary above? Do you still want to be a mortgage loan officer? Just try to achieve it by improving your knowledge and skills so you are ready to be a good officer. The most important is that you can really earn the salary based on your working performance.