What is a Loan Workout Officer

There is more than meets the eye when it comes to being a Loan Workout Officer. For example, did you know that they make an average of $31.9 an hour? That's $66,348 a year!

Between 2018 and 2028, the career is expected to grow 8% and produce 24,300 job opportunities across the U.S.

What Does a Loan Workout Officer Do

There are certain skills that many Loan Workout Officers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Detail oriented, Initiative and Interpersonal skills.

How To Become a Loan Workout Officer

If you're interested in becoming a Loan Workout Officer, one of the first things to consider is how much education you need. We've determined that 68.2% of Loan Workout Officers have a bachelor's degree. In terms of higher education levels, we found that 16.8% of Loan Workout Officers have master's degrees. Even though most Loan Workout Officers have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a Loan Workout Officer. When we researched the most common majors for a Loan Workout Officer, we found that they most commonly earn Bachelor's Degree degrees or Master's Degree degrees. Other degrees that we often see on Loan Workout Officer resumes include Associate Degree degrees or High School Diploma degrees.

You may find that experience in other jobs will help you become a Loan Workout Officer. In fact, many Loan Workout Officer jobs require experience in a role such as Vice President. Meanwhile, many Loan Workout Officers also have previous career experience in roles such as Assistant Vice President or Credit Analyst.

What is the right job for my career path?

Tell us your goals and we'll match you with the right jobs to get there.

And if you’re looking for a job, here are the five top employers hiring now:

  1. IBM Jobs (5)
  2. First Commonwealth Bank Jobs (1)
  3. Valley National Bancorp Jobs (2)
  4. First Fidelity Bank Jobs (1)
  5. CIT Group Jobs (1)
Average Salary
$66,348
Average Salary
Job Growth Rate
8%
Job Growth Rate
Job Openings
65,341
Job Openings
resume document icon

Don't Have A Professional Resume?

0 selections

Loan Workout Officer Career Paths

Top Careers Before Loan Workout Officer

Top Careers After Loan Workout Officer

Loan Workout Officer Jobs You Might Like

What is the right job for my career path?

Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Loan Workout Officer

Loan Workout Officers in America make an average salary of $66,348 per year or $32 per hour. The top 10 percent makes over $104,000 per year, while the bottom 10 percent under $42,000 per year.
Average Salary
$66,348
Find Your Salary Estimate
How much should you be earning as an Loan Workout Officer? Use Zippia's Salary Calculator to get an estimation of how much you should be earning.

Calculate your salary

Use Zippia's Salary Calculator to see how your pay matches up.

Loan Workout Officer Demographics

Loan Workout Officer Gender Statistics

male

72.9 %

female

27.1 %

Loan Workout Officer Ethnicity Statistics

White

67.5 %

Hispanic or Latino

15.6 %

Black or African American

7.8 %

Loan Workout Officer Foreign Languages Spoken Statistics

Spanish

40.0 %

Mandarin

20.0 %

Chinese

20.0 %
Job Openings

Find the best Loan Workout Officer job for you

0 selections
0 selections

Loan Workout Officer Jobs You Might Like

Loan Workout Officer Education

Loan Workout Officer Majors

31.8 %
24.5 %

Loan Workout Officer Degrees

Bachelors

68.2 %

Masters

16.8 %

Associate

10.3 %

Top Colleges for Loan Workout Officers

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
Job Openings

Find the best Loan Workout Officer job for you

0 selections
0 selections

Loan Workout Officer Jobs You Might Like

Online Courses For Loan Workout Officer That You May Like

Banking Credit Analysis Process (for Bankers)
udemy
4.5
(1,842)

Course for Bankers, Consultants and managers to Understand Credit Analysis Process from Indian Context...

Advanced Mortgage Loan Processor: Essential Skills Training
udemy
4.6
(513)

Finibi Mortgage CEO, Joe Correa, teaches you how to take your mortgage loan processor career to the next level...

Become a Mortgage Loan Processor
udemy
4.5
(2,507)

Finibi Mortgage CEO, Joe Correa, teaches you how to become a mortgage loan processor...

Show More Loan Workout Officer Courses
Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a Loan Workout Officer

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 26.7% of Loan Workout Officers listed Financial Statements on their resume, but soft skills such as Detail oriented and Initiative are important as well.

How Do Loan Workout Officer Rate Their Jobs?

Working as a Loan Workout Officer? Share your experience anonymously.
Do you work as a Loan Workout Officer?
Rate how you like work as Loan Workout Officer. It's anonymous and will only take a minute.

Top Loan Workout Officer Employers

Most Common Employers For Loan Workout Officer

RankCompanyZippia ScoreAverage Loan Workout Officer SalaryAverage Salary
1$99,330
2$98,269
3$89,573
4$82,384
5$81,258
6$75,788