As of April 01, 2025, the average annual salary for a Loan Workout Manager in Royal Oak, MI is $162,564. Salary.com reports that pay typically ranges from $132,556 to $173,675, with most professionals earning between $105,236 and $183,791.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $173,849 | $14,487 | $3,343 | $84 |
| Average | $162,727 | $13,561 | $3,129 | $78 |
| 25th Percentile | $132,689 | $11,057 | $2,552 | $64 |
An entry-level Loan Workout Manager with under 1 year experience makes about $151,367. With less than 2 years of experience, a mid-level Loan Workout Manager makes around $152,711. After 2-4 years, the Loan Workout Manager pay rises to about $155,846. Those senior Loan Workout Manager with 5-8 years of experience earn roughly $159,429, and those Loan Workout Manager having 8 years or more experience are expected to earn about $163,725 on average.
| Levels | Salary |
|---|---|
| Entry Level Loan Workout Manager | $151,367 |
| Intermediate Level Loan Workout Manager | $152,711 |
| Senior Level Loan Workout Manager | $155,846 |
| Specialist Level Loan Workout Manager | $159,429 |
| Expert Level Loan Workout Manager | $163,725 |
| Entry Level | 7% |
| Mid Level | 6% |
| Senior Level | 4% |
| Top Level | 2% |
| Experienced | 1% |
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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.
Accountability: Setting and holding oneself and others to stated expectations by associating tasks with our business's mission, values, and goals.
Bond: Bonds are issued by borrowers to raise money from investors willing to lend them money for a certain amount of time.
Consumer Loans: a consumer loan is any type of loan made to a consumer by a creditor. The loan can be secured (backed by the assets of the borrower) or unsecured (not backed by the assets of the borrower).
| Skill | Salary | Demand |
|---|---|---|
|
Banking System
|
$193,451 |
19%
|
|
ACH
|
$175,569 |
8%
|
|
Accountability
|
$173,944 |
7%
|
|
Coaching
|
$164,190 |
1%
|
|
Organizational Skills
|
$164,190 |
1%
|
|
Organizational Skills
|
$164,190 |
1%
|
