How much does a Loan Workout Officer III make in the United States? The average Loan Workout Officer III salary in the United States is $138,484 as of February 26, 2024, but the range typically falls between $121,201 and $155,674. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. 

Loan Workout Officer III Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Loan Workout Officer III Salary $105,466 US February 26, 2024
25th Percentile Loan Workout Officer III Salary $121,201 US February 26, 2024
50th Percentile Loan Workout Officer III Salary $138,484 US February 26, 2024
75th Percentile Loan Workout Officer III Salary $155,674 US February 26, 2024
90th Percentile Loan Workout Officer III Salary $171,325 US February 26, 2024
25% $121,201 10% $105,466 90% $171,325 75% $155,674 $138,484 50%(Median) Didn’t find job title? Click
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What skills does a Loan Workout Officer III need?

Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.

Promotion: Developing and implementing promotional activities to attract and increase the awareness of customers in buying products.

3.

BI: Business intelligence (BI) is a technology-driven process for analyzing data and delivering actionable information that helps executives, managers and workers make informed business decisions.

Analysis 8.64%
Promotion 2.47%
BI 1.23%
Others 87.66%

Job Description for Loan Workout Officer III

Loan Workout Officer III restructures loans; works with lending personnel and borrowers to better secure collateral and/or assets of the borrower and to facilitate collection. Works with the largest and highest complexity loans. Being a Loan Workout Officer III analyzes financial data and provides required reporting. May specialize in a particular loan type or industry. Additionally, Loan Workout Officer III may guide and mentor junior team members. Typically requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Loan Workout Officer III contributes to moderately complex aspects of a project. Work is generally independent and collaborative in nature. To be a Loan Workout Officer III typically requires 4 to 7 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Career Path for Loan Workout Officer III

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Loan Workout Officer III, the first career path typically progresses to Commercial Loan Workout Officer IV.

Additionally, the second career path typically starts with a Banking & Commercial Loan Workout Manager position, and then progresses to Loan Workout Manager.

Those that have already made the climb...
John D. Rainey, Former Chief Financial Officer and EVP, Global Customer Operations
PayPal Holdings, Inc. operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consu... More
Fiscal Year Ended in 2022
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Loan Workout Officer III salary varies from city to city. Compared with national average salary of Loan Workout Officer III, the highest Loan Workout Officer III salary is in San Francisco, CA, where the Loan Workout Officer III salary is 25.0% above. The lowest Loan Workout Officer III salary is in Miami, FL, where the Loan Workout Officer III salary is 2.9% lower than national average salary.

City, State Compared to national average
City, State San Francisco, CA Compared to national average
+ 25.0%
City, State Washington, DC Compared to national average
+ 11.3%
City, State Miami, FL Compared to national average
-2.9%
City, State Chicago, IL Compared to national average
+ 5.5%
City, State Boston, MA Compared to national average
+ 12.7%
City, State New York, NY Compared to national average
+ 17.5%
City, State Dallas, TX Compared to national average
-0.7%

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Average Base Salary

Core compensation

 
 
 
121201
155674
138484

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
136666
179184
158977
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Loan Workout Officer III in the United States. The base salary for Loan Workout Officer III ranges from $121,201 to $155,674 with the average base salary of $138,484. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $136,666 to $179,184 with the average total cash compensation of $158,977.
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121201
155674

 

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Skills associated with Loan Workout Officer III: Loss Mitigation, Banking Software, Debt Restructuring, Negotiation ...More

Salary estimation for Loan Workout Officer III at companies like : Public Waste Center, aspxSdi Trenton Holdings LLC, YLY Co

Loan Workout Officer III Salary in United States
Loan Workout Officer III Salary Graph, Regional Distribution and Summary