Loan Workout Officer Salary in Milwaukee, WI

How much does a Loan Workout Officer make in Milwaukee, WI?

As of April 01, 2025, the average annual salary for a Loan Workout Officer in Milwaukee, WI is $95,883. Salary.com reports that pay typically ranges from $80,427 to $113,034, with most professionals earning between $66,356 and $128,648.

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Salary range for a Loan Workout Officer

$80,427 to $113,034

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What is a Loan Workout Officer?

A Loan Workout Officer is responsible for managing and negotiating the restructuring of delinquent or non-performing loans. They work with borrowers to develop and implement workout plans that will help them bring their loans back into good standing. This may involve modifying loan terms, extending repayment periods, or finding alternative solutions to help borrowers meet their financial obligations. Loan Workout Officers also work closely with internal teams and external partners to assess the financial health of borrowers and develop strategies to minimize losses for the lending institution. Additionally, they may be involved in monitoring and reporting on the progress of workout plans and making recommendations for further action if necessary. Strong communication, negotiation, and analytical skills are essential for success in this role.

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Job Openings for Loan Workout Officer in Milwaukee, WI

What does a Loan Workout Officer do?

Common responsibilities of a Loan Workout Officer

Collaborate with other departments, such as legal and risk management, to ensure compliance with regulations and policies.

September 17, 2023

Stay informed about industry trends and best practices related to loan workouts and financial restructuring.

September 24, 2023

Provide regular updates and reports to management on the status of loan workout cases.

September 30, 2023

Develop and implement strategies to help borrowers restructure their loans and improve their financial standing.

October 07, 2023

Work with borrowers to create realistic and achievable repayment plans.

October 10, 2023

Communicate with borrowers to provide guidance and support throughout the loan workout process.

October 15, 2023

Evaluate and analyze the financial situation of borrowers who are struggling to make loan payments.

October 19, 2023

Review and assess the effectiveness of loan workout plans and make adjustments as needed.

October 22, 2023

Monitor and track the progress of borrowers in adhering to the terms of their loan workout plans.

October 31, 2023

Negotiate with borrowers to modify loan terms, such as interest rates, payment schedules, and loan amounts.

November 01, 2023

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Loan Workout Officer Salary By Experience Levels in Milwaukee, WI

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RELEVANT JOB EXPERIENCE

Length of experience is a pay differentiator. Those with greater experience may have an advantage in negotiating salary. For those with less experience, other factors such as education or special skills could impact your pay. Please visit Professional Salary Report for more details.

Loan Workout Officer Salary By Level of Education in Milwaukee, WI

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LEVEL OF EDUCATION

Depending on the job, educational levels may have a significant impact on pay levels. Be informed and understand how things like education and certifications can help to increase potential earnings for the career you are interested in. Please visit Professional Salary Report for more details.

Average Salary Range for Loan Workout Officer in Milwaukee, WI

Average Base Salary

Core compensation

80427

113034

95883

Average Total Cash Compensation

Includes base and annual incentives

86857

128310

105004

What is the average salary for Loan Workout Officer in 2025?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Loan Workout Officer in Milwaukee, WI. The base salary for Loan Workout Officer ranges from $80,427 to $113,034 with the average base salary of $95,883. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $86,857 to $128,310 with the average total cash compensation of $105,004.

View Average Salary for Loan Workout Officer as table

	Average Salary	Average Salary Range
Base Salary	$95,883	$80,427 - $113,034
Bonus	$9,120	$6,430 - $15,276
Total Pay	$105,004	$86,857 - $128,310

* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.

* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.

Loan Workout Officer Salary Near Milwaukee, WI

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Milwaukee, WI
CITY, STATE Waukesha, WI	AVERAGE SALARY RANGE $80,130 - $112,616	COMPARE TO Milwaukee, WI
CITY, STATE Racine, WI	AVERAGE SALARY RANGE $77,656 - $109,138	COMPARE TO Milwaukee, WI
CITY, STATE Kenosha, WI	AVERAGE SALARY RANGE $77,656 - $109,138	COMPARE TO Milwaukee, WI
CITY, STATE Waukegan, IL	AVERAGE SALARY RANGE $79,013 - $111,047	COMPARE TO Milwaukee, WI
CITY, STATE Janesville, WI	AVERAGE SALARY RANGE $77,583 - $109,037	COMPARE TO Milwaukee, WI
CITY, STATE Mount Prospect, IL	AVERAGE SALARY RANGE $82,733 - $116,274	COMPARE TO Milwaukee, WI

See salaries for Loan Workout Officer in locations close to Milwaukee, WI. Pay for the same job may vary based on the location and on the location and on other factors such as the size of company, the industry, and other local conditions.

About Milwaukee, Wisconsin

Milwaukee lies along the shores and bluffs of Lake Michigan at the confluence of three rivers: the Menomonee, the Kinnickinnic, and the Milwaukee. Smaller rivers, such as the Root River and Lincoln Creek, also flow through the city. Milwaukee's terrain is sculpted by the glacier path and includes steep bluffs along Lake Michigan that begin about a mile (1.6 km) north of downtown. In addition, 30 miles (48 km) southwest of Milwaukee is the Kettle Moraine and lake country that provides an industrial landscape combined with inland lakes. According to the United States Census Bureau, the city has ...

Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia

View Salary for Similar Jobs to Loan Workout Officer in Milwaukee, WI

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JOB TITLE	LOCATION	MINIMUM SALARY	MAXIMUM SALARY
JOB TITLE Entry Loan Workout Officer	LOCATION Milwaukee, WI	MINIMUM SALARY $66,400	MAXIMUM SALARY $77,200
JOB TITLE Intermediate Loan Workout Officer	LOCATION Milwaukee, WI	MINIMUM SALARY $92,600	MAXIMUM SALARY $112,600
JOB TITLE Senior Loan Workout Officer	LOCATION Milwaukee, WI	MINIMUM SALARY $116,410	MAXIMUM SALARY $136,960
JOB TITLE Loan Workout Officer II	LOCATION Milwaukee, WI	MINIMUM SALARY $92,566	MAXIMUM SALARY $112,521
JOB TITLE Loan Workout Officer III	LOCATION Milwaukee, WI	MINIMUM SALARY $116,403	MAXIMUM SALARY $136,957
JOB TITLE Loan Workout Officer I	LOCATION Milwaukee, WI	MINIMUM SALARY $66,322	MAXIMUM SALARY $77,178

The Loan Workout Officer job could be listed using titles that are not exactly the same, but actually are for the same or very similar job. Here are some job titles in Milwaukee, WI that might be a good fit for the type of job and salary you are looking for.

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80427

113034

About Milwaukee, Wisconsin Milwaukee lies along the shores and bluffs of Lake Michigan at the confluence of three rivers: the Menomonee, the Kinnickinnic, and the Milwaukee. Sma....More

Milwaukee, Wisconsin area prices were up 1.8% from a year ago

Loan Workout Officer Salary in popular cities: Madison, Green Bay, Kenosha

Learn more about: Compensation Packages, Employee Flight Risk, Gender Pay Gap, Job Openings for This Role