How much does a Loan Workout Officer II make in Worcester, MA? The average Loan Workout Officer II salary in Worcester, MA is $97,304 as of February 26, 2024, but the range typically falls between $81,273 and $114,684. 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 II Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Loan Workout Officer II Salary $66,678 Worcester,MA February 26, 2024
25th Percentile Loan Workout Officer II Salary $81,273 Worcester,MA February 26, 2024
50th Percentile Loan Workout Officer II Salary $97,304 Worcester,MA February 26, 2024
75th Percentile Loan Workout Officer II Salary $114,684 Worcester,MA February 26, 2024
90th Percentile Loan Workout Officer II Salary $130,507 Worcester,MA February 26, 2024
25% $81,273 10% $66,678 90% $130,507 75% $114,684 $97,304 50%(Median) Didn’t find job title? Click
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What skills does a Loan Workout Officer II 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.

Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.

2.

Futures: Futures are derivative financial contracts obligating the buyer to purchase an asset or the seller to sell an asset at a predetermined future date and set price.

3.

Tax Return: Calculating an entity’s income earned with the amount of tax payable to the government, organizations, or potential taxpayers.

Customer Service 7.06%
Futures 2.22%
Tax Return 1.27%
Others 89.45%

Job Description for Loan Workout Officer II

Loan Workout Officer II restructures loans; works with lending personnel and borrowers to better secure collateral and/or assets of the borrower and to facilitate collection. Works with mid- and large-size loans of medium to high complexity. Being a Loan Workout Officer II analyzes financial data and provides required reporting. May specialize in a particular loan type or industry. Additionally, Loan Workout Officer II typically requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Loan Workout Officer II gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. To be a Loan Workout Officer II typically requires 2 to 4 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Loan Workout Officer II in Worcester, MA

Career Path for Loan Workout Officer II

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 II, the first career path typically starts with a Commercial Loan Workout Officer III position, and then progresses to Commercial Loan Workout Officer IV.

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

Those that have already made the climb...
Pamela J. Shelley-Kessler, Co-President, Chief Financial Officer and Corporate Secretary
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 208 properties in 27 states wi... More
Fiscal Year Ended in 2022
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Loan Workout Officer II salary varies from city to city. Compared with national average salary of Loan Workout Officer II, the highest Loan Workout Officer II salary is in San Francisco, CA, where the Loan Workout Officer II salary is 25.0% above. The lowest Loan Workout Officer II salary is in Miami, FL, where the Loan Workout Officer II 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

 
 
 
81273
114684
97304

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
87662
129839
106222
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Loan Workout Officer II in Worcester, MA. The base salary for Loan Workout Officer II ranges from $81,273 to $114,684 with the average base salary of $97,304. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $87,662 to $129,839 with the average total cash compensation of $106,222.
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81273
114684

 

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About Worcester, Massachusetts    Worcester has a total area of 38.6 square miles (100 km2), 37.6 square miles (97 km2) of land and 1.0 square mile (2.6 km2) (roughly 2.59%) of water. ....More

Worcester, Massachusetts  area prices were up 1.6% from a year ago    View the Cost of Living in Worcester, Massachusetts

Loan Workout Officer II Salary in popular cities: BostonSpringfieldLowell

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

Jobs with a similar salary range to Loan Workout Officer II : Senior Loan Originator, Loan Workout Officer

Salary estimation for Loan Workout Officer II at companies like : CAP2 GmbH, Umic Government Securities Inc, The Questions Experience Community