Burnt Out? Earn a Mortgage Branch Manager Salary Without Overdoing It
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Burning the candle at both ends. Hitting a wall and running on empty. Any way you put it, you’re at a turning point with your current loan officer position. You’re overworked and under-appreciated, but isn’t everyone? (Answer: no). Your mortgage branch manager salary might be the only thing keeping you going, but even your compensation isn’t structured exactly how you’d like it to be. Here’s how you recognize the warning signs so you can proactively work toward getting a new branch manager opportunity before you desperately need one.
Signs You Might Be Ready for a New Branch Manager Opportunity
Think about how you’ve been feeling about your job lately. What are some of the familiar phrases that run through your mind? If your inner dialogue sounds anything like the one below, pursuing a new branch manager opportunity could be what you (and your resume) need.
- Are you frequently voicing disengagement? “I used to enjoy my job, but lately, it feels like a daily grind.”
- Have you been complaining about the lack of recognition? “No matter how hard I work, no one notices or appreciates it.”
- Are you feeling overwhelmed? “I’m drowning in my workload; it feels too much to handle.”
- Are you noticing decreased motivation? “I can’t find the motivation to start or complete tasks anymore.”
- Do you complain about the workload? “There’s just too much on my plate, and I can’t keep up with it all.”
- Do you feel powerless? “I don’t think I have any control over what happens at work anymore.”
- Have you been talking about feeling stuck? “I feel stuck in this work cycle and don’t see a way out.”
Symptoms of burnout can come in many forms, and it’s essential to pay attention to the clues your body and mind are giving to you. An excellent mortgage branch manager salary doesn’t mean much if you aren’t healthy and in a good enough headspace to enjoy the benefits that salary provides. From physical exhaustion and increased irritability to difficulty sleeping and neglecting self-care, the answer to “Am I burned out?” or “Should I quit?” is more straightforward than you think.
What Causes Loan Officer Burnout?
The industry is volatile. Acquisitions happen fast, and the big companies get bigger. As consolidations occur, marketing costs for the “brand” go up. Like a stadium sponsorship no one asked for, the workers and loan officers earn less as commissions are cut to make room for increased advertising budgets.
Entrepreneurial spirits don’t have room to bloom. Some companies may have a top-down management style that restricts loan officers’ decision-making autonomy, hindering their ability to act independently. Those with rigid and strict procedures may discourage the exploration of innovative or unconventional approaches to serving clients. Unfortunately, maintaining the status quo could be proof that you should go.
It’s a toxic culture at your current branch manager opportunity. The environment is everything, and places, people, and policies all contribute to the culture of a workplace. If you’re frustrated by your bosses and co-workers or feel that the culture could be a better fit, look at a company like MortgageRight, whose culture of ownership allows you to grow your origination business.
Being overworked, underappreciated, and underpaid is the norm. Does this sound familiar? You’re a high performer, working 60-plus hours a week. You love what you do but don’t feel the love from management in terms of being recognized for your contributions. You also know that a mortgage branch manager salary is two- to two-and-a-half times more than a loan officer’s, even though you’re essentially doing the same job. Not cool.
What Are Some Remedies for Loan Officer Burnout?
If you’re reading this blog, you’re off to a good start. Doing your research is a significant first step. Your next branch manager opportunity could be a click away.
Take care of yourself. Feeling burnt out is a tough place to be. Prioritize self-care activities, including exercise, proper nutrition, and sufficient sleep, to maintain your overall well-being as you look for your next branch manager opportunity.
Seek support. Talk to colleagues, mentors, or friends about your experiences. Sharing concerns can provide emotional support and different perspectives. Reach out to seasoned branch veterans like MortgageRight managers Alvaro Moreira and Mike Russo, who work for a company that combats many issues that often cause burnout amongst loan officers.
Set realistic and achievable goals. Give yourself a loose timeline for each phase, including research, informational interviews, searching for and applying to new jobs, and interviewing. Holding yourself accountable can help maintain your motivation and give you a sense of accomplishment at each step.
Write out a pros-and-cons list. When you consider the positives and negatives of getting what you want, you “cultivate ambivalence.” Doing so may make you more willing to negotiate, speak up, and act out in your best interest.
Finding Your Next Mortgage Branch Manager Salary at MortgageRight
The owners of MorgageRight are producers—just like you—who’ve spent fifteen years perfecting their mortgage origination platform. While they’ve managed to produce a valuable resource for homeowners, they’ve also produced a company that offers its loan officers a different kind of branch manager opportunity. You get to be your own boss by starting your own mortgage branch. No more layers. No more bureaucracy. No more corporate bull. You’re in control of originating business, while MortgageRight takes care of all the non-money-making administrative tasks.
Things like payroll, licensing, compliance, and marketing aren’t your responsibility anymore, so you can spend time on the things that truly impact your business. Plus, it’s hard to burn out when you’re the one setting your hours! You also determine your mortgage branch manager salary. There is NO CAP. Say goodbye to tiered compensation or fees that eat into your commission. Don’t just imagine more control, more freedom, and more opportunities. See the proof. Calculate your pay raise to see how much more money you could get by earning an extra 50-75 BPS on your volume with MortgageRight.
Even while you flex your entrepreneurial muscles by becoming the boss, you aren’t alone. The MortgageRight business model is the branch manager job opportunity you’ve been looking for because you’ve got MortgageRight standing behind you. Our partnership gives you access to the latest technology and the most aggressive branch platform available:
- PriceRIGHT™ Our model allows you to set margins so you control the pricing and profitability of your business.
- UnderRIGHT™ MortgageRight is a direct lender, so we control the loan process from beginning to end. You can’t close loans any faster or easier!
- CloseRIGHT™ Missing closing dates is not an option here. Branch managers have a direct line of communication with our closing team to ensure you have on-time closings!
You can be confident that you’re always offering your clients the best rate on the best product—and we’ve got them all so that you never have to refer a deal out. If you’re struggling in your current job, don’t worry. Your next branch manager opportunity awaits. Schedule a live demo of the MortgageRight platform today. It’s the first step toward becoming the branch manager boss you know you’re meant to be. And now you finally have a partner that can help get you there.