As of April 01, 2025, the average annual salary for a Loan Workout Officer I in Newark, NJ is $82,877. Salary.com reports that pay typically ranges from $73,965 to $97,867, with most professionals earning between $65,851 and $111,516.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $86,425 | $7,202 | $1,662 | $42 |
| Average | $73,187 | $6,099 | $1,407 | $35 |
| 25th Percentile | $65,317 | $5,443 | $1,256 | $31 |
An entry-level Loan Workout Officer I with under 1 year experience makes about $80,686. With less than 2 years of experience, a mid-level Loan Workout Officer I makes around $81,740. After 2-4 years, the Loan Workout Officer I pay rises to about $84,661. Those senior Loan Workout Officer I with 5-8 years of experience earn roughly $86,433, and those Loan Workout Officer I having 8 years or more experience are expected to earn about $86,876 on average.
| Levels | Salary |
|---|---|
| Entry Level Loan Workout Officer I | $80,686 |
| Intermediate Level Loan Workout Officer I | $81,740 |
| Senior Level Loan Workout Officer I | $84,661 |
| Specialist Level Loan Workout Officer I | $86,433 |
| Expert Level Loan Workout Officer I | $86,876 |
| Entry Level | 10% |
| Mid Level | 12% |
| Senior Level | 16% |
| Top Level | 18% |
| Experienced | 19% |
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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.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Economics: Economics is a social science that focuses on the production, distribution, and consumption of goods and services, and analyzes the choices that individuals, businesses, governments, and nations make to allocate resources.
Law Enforcement: Law enforcement is any system by which some members of society act in an organized manner to enforce the law by discovering, deterring, rehabilitating, or punishing people who violate the rules and norms governing that society. Although the term encompasses entities such as courts and prisons, it is most frequently applied to those who directly engage in patrols or surveillance to dissuade and discover criminal activity, and those who investigate crimes and apprehend offenders, a task typically carried out by the police or another law enforcement organization. Furthermore, although law enforcement may be most concerned with the prevention and punishment of crimes, organizations exist to discourage a wide variety of non-criminal violations of rules and norms, effected through the imposition of less severe consequences.
| Skill | Salary | Demand |
|---|---|---|
|
Accounting
|
$91,993 |
11%
|
|
Commercial Loans
|
$91,993 |
11%
|
|
Commercial Loans
|
$91,993 |
11%
|
|
Commercial Loans
|
$91,993 |
11%
|
|
Commercial Loans
|
$91,993 |
11%
|
