As of March 01, 2026, the average salary for a Loan Workout Officer III in the United States is $106,136 per year, which breaks down to an hourly rate of $51.
However, a Loan Workout Officer III's salary can vary significantly. Here’s a look at the typical salary range:
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A Loan Workout Officer III's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education and company size can directly affect your earning potential.
Experience is a primary driver of a Loan Workout Officer III's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Loan Workout Officer I | 0-2 years | $68,950 |
| Loan Workout Officer II | 2-4 years | $76,573 |
| Loan Workout Officer III | 4-7 years | $106,136 |
| Loan Workout Officer IV | 7+ years | $137,415 |
| Loan Workout Manager | 7+ years | $148,583 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Loan Workout Officer IIIs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Customer Service | 7.29% |
| Loan Origination | 2.46% |
| Tax Return | 1.31% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Bond
|
$150,713 |
42%
|
|
Loan Processing
|
$113,566 |
7%
|
|
Tax Return
|
$113,566 |
7%
|
|
Problem Solving
|
$113,566 |
7%
|
|
Computer Systems
|
$112,504 |
6%
|
|
Wholesale
|
$112,504 |
6%
|
Your level of education can impact your salary potential. While many Loan Workout Officer IIIs enter the field with a Associate's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Loan Workout Officer III with a Associate's Degree is between $86,664 and $95,312).
Loan Workout Officer III Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 18.8% |
| High School | 18.8% |
| Associates | 25.0% |
| Bachelors | 37.5% |
| Masters | 18.8% |
| Doctorate | 0.0% |
Understanding how a Loan Workout Officer III's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on March 01, 2026Promotions are the fastest way to increase your earnings. As a Loan Workout Officer III, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| Commercial Loan Workout Officer IV | $168,859 | 59% |
| Loan Workout Officer IV | $137,415 | 29% |
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Ready to take the next step in your career? Browse thousands of current Loan Workout Officer III job openings on our job board. Use the search bar below to find your perfect match.
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A Loan Workout Officer III's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Loan Workout Officer III earns the most in San Jose, CA, where the annual salary of a Loan Workout Officer III is $133,869.
The highest pay for Loan Workout Officer III is $128,947.
The lowest pay for Loan Workout Officer III is $94,948.
Responsible for developing and implementing workout plans that are designed to restructure problem loans. Works closely with borrowers, legal counsel, and internal stakeholders to preserve capital and maximize recovery. Analyzes financial data to restructure loan terms, secure collateral/assets, and facilitate settlements. Ensures all actions are compliant with federal, state, investor, and company guidelines. Typically works with mid- and large-size loans of medium to high complexity. Requires a bachelor's degree. Typically reports to a manager. Work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. Typically requires 4-7 years of related experience.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.
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