Credit counselors & loan officers

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2019 Workforce

354k

Average Age

43.6

Average Salary

$82,695

Average Male Salary

$102,970

Average Female Salary

$67,256

About

Credit counselors & loan officers are most often employed by the Nondepository credit & related activities industry. The average yearly wage for Credit counselors & loan officers was $82,695 in 2016. The top 3 most similar occupations to Credit counselors & loan officers by wage are Radiation therapists, Real estate brokers & sales agents, and Electrical powerline installers & repairers.

Credit counselors & loan officers are part of the Business & financial operations occupations, along with Agents & business managers of artists, performers, & athletes, Buyers & purchasing agents, farm products, Wholesale & retail buyers, except farm products, Purchasing agents, except wholesale, retail, & farm products, Claims adjusters, appraisers, examiners, & investigators, and 24 more.

The top 3 locations that employ the most Credit counselors & loan officers are West Des Moines & Urbandale Cities PUMA, IA, Irvine City (Central) PUMA, CA, and Rock Hill City & Fort Mill Town PUMA, SC. The top 3 locations with a relatively high concentration of Credit counselors & loan officers are Rock Hill City & Fort Mill Town PUMA, SC, Edina, St. Louis Park & Hopkins Cities PUMA, MN, and Portland, South Portland & Westbrook Cities PUMA, ME.

Management, business, & financial occupations Management, business, science, & arts occupations Business & financial operations occupations

Information on the businesses and industries that employ Credit counselors & loan officers and on wages and locations for those in the field. Nondepository credit & related activities is the industry that employs the most Credit counselors & loan officers, both by share and by number, though the highest paid industry for Credit counselors & loan officers, by average wage, is Lessors of real estate, and offices of real estate agents and brokers. Credit counselors & loan officers are paid most in Dallas (Far North) & Richardson (Southwest) Cities PUMA, TX but are relatively concentrated in Rock Hill City & Fort Mill Town PUMA, SC.

Wages

Yearly Wage

$82,695

AVERAGE SALARY

± $3,463

In 2019, Credit counselors & loan officers earned an average of $82,695, $27,171 more than than the average national salary of $55,524.

Radiation therapists make somewhat more than Credit counselors & loan officers while Real estate brokers & sales agents make somewhat less. This chart shows the various occupations closest to Credit counselors & loan officers as measured by average annual salary in the US.

Wage Distribution

0.401

WAGE GINI

In 2015, Credit counselors & loan officers had a wage GINI coefficient of 0.401, which is lower than than the national average of 0.478. In other words, wages are distributed more evenly for Credit counselors & loan officers (shown in red) than for the overall labor force (shown in gray).

Wage by Location

HIGHEST PAYING PUMAS

This map shows the Public Use Microdata Areas (PUMAs) in the United States shaded by average annual wage for Credit counselors & loan officers.

Spatial Concentration

PUMAs with a Relatively High Concentration of Credit counselors & loan officers

This map displays which Public Use Microdata Areas (PUMAs) in the United States have a relatively high population of Credit counselors & loan officers.

Industries

Most Common

The most common industries employing Credit counselors & loan officers, by number of employees, are Nondepository credit & related activities, Banking & related activities, and Savings institutions, including credit unions .

Highest Paying

The highest paying industries for Credit counselors & loan officers, by average wage, are Lessors of real estate, and offices of real estate agents and brokers, Nondepository credit & related activities, and Banking & related activities.

Industries by Share

354k

2019 Workforce

± 14,596

13%

1 YEAR GROWTH

± 5.32%

The number of people employed as Credit counselors & loan officers has been growing at a rate of 13%, from 313,432 people in 2018 to 354,263 people in 2019.

This graphic shows the share of Credit counselors & loan officers employed by various industries. Nondepository credit & related activities employs the largest share of Credit counselors & loan officers at 39.2%, followed by Banking & related activities with 39.1% and Savings institutions, including credit unions with 9.71%.

Diversity

Demographic information on Credit counselors & loan officers in the US. The average age of male Credit counselors & loan officers in the workforce is 43.2 and of female Credit counselors & loan officers is 44, and the most common race/ethnicity for Credit counselors & loan officers is White (Non-Hispanic).

Gender Composition

153k

MALE WORKFORCE

± 9,603

201k

FEMALE WORKFORCE

± 11,003

56.8% of Credit counselors & loan officers are Female, making them the more common gender in the occupation. This chart shows the gender breakdown of Credit counselors & loan officers.

Race & Ethnicity

Most Common Race or Ethnicity of Credit counselors & loan officers

White (Non-Hispanic)
White (Hispanic)
Black (Non-Hispanic)

72.1% of Credit counselors & loan officers are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 9.78% of Credit counselors & loan officers, White (Hispanic) is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Credit counselors & loan officers.

Age by Gender

43.2

AVERAGE MALE AGE

± 0.821

AVERAGE FEMALE AGE

± 0.676

The median age of Credit counselors & loan officers is 43.6, and Male employees are generally 0.762 years younger than than their Female counterparts.

Education

Data on higher education choices for Credit counselors & loan officers from The Department of Education and Census Bureau. The most common major for Credit counselors & loan officers is Business but a relatively high number of Credit counselors & loan officers hold a major in Agriculture.

Majors

ACS PUMS data only shows the major for bachelor's degrees. However, we can filter the data based on highest degree obtained.

MOST COMMON MAJORS

MOST SPECIALIZED MAJORS

Skills

Data on the critical and distinctive skills necessary for Credit counselors & loan officers from the Bureau of Labor Statistics. Credit counselors & loan officers need many skills, but most especially Speaking, Active Listening, and Reading Comprehension. The revealed comparative advantage (RCA) shows that Credit counselors & loan officers need more than the average amount of Mathematics, Negotiation, and Service Orientation.