Credit counselors & loan officers

Detailed Occupation

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2022 Workforce
362k
Average Age
43.4
Average Salary
$101,986
Average Male Salary
$127,317
Average Female Salary
$80,867

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 $101,986 in 2022.

Employment

Employment and salary information for the Credit counselors & loan officers workforce. Credit counselors & loan officers workforce in 2022 was 362,178 people, of which 54.5% were women and 45.5% were men. Credit counselors & loan officers are paid most in Middlesex County--Newton & Waltham PUMA, MA but are relatively concentrated in St. Louis County (Southwest) PUMA, MO.

Employment Over Time

Metric
Grouping
164,670
Male Workforce
± 9.96k
197,508
Female Workforce
± 10.9k

The Credit counselors & loan officers workforce in 2022 was 362,178 people (54.5% women and 45.5% men). This implies an average annual growth of 17.3% between 2014 (308,735) and 2022 (362,178).

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Employment by Location

Level
Metric

This map shows the states in the United States shaded by average wage for Credit counselors & loan officers.

During 2022, the states that concentrated the best average annual wage were District of Columbia ($143,068), Nevada ($140,431), and Washington ($134,750).

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Yearly Wage Ranking

$101,986
AVERAGE WAGE
#65 in the ranking (2022)
$64,683
NATIONAL AVERAGE WAGE
For all occupations across the US

In 2022, Credit counselors & loan officers earned an average of $101,986, $37,303 more than the average national salary of $64,683

The graph shows the ranking of Credit counselors & loan officers in relation to all Detailed Occupation in 2022.

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Wage Distribution

Gender
0.427
WAGE GINI

In 2022, Credit counselors & loan officers had a wage GINI coefficient of 0.427, which is lower 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).

The graphic shows the distribution of average salaries by buckets for Credit counselors & loan officers compared to the entire workforce in the country.

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Industry

Information on the industries that employ Credit counselors & loan officers and on wages 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 Management, scientific & technical consulting services ($151,137).

Occupations by Industries

Metric
Value
362k
2022 Workforce
± 14,758
3.42%
1 YEAR GROWTH
± 5.62%

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 46.9%, followed by Banking & related activities with 42.4% and Savings institutions, including credit unions with 10.7%.

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Diversity

Demographic information on Credit counselors & loan officers in the US. The workforce of Credit counselors & loan officers in 2022 was 362,178 people, with 54.5% woman, and 45.5% men. The average age of male Credit counselors & loan officers in the workforce is 43 and of female Credit counselors & loan officers is 43.8, and the most common race/ethnicity for Credit counselors & loan officers is White.

Gender and Age

Metric

The workforce of Credit counselors & loan officers in 2022 was 362,178 people, with 54.5% woman, and 45.5% men.

The age ranges that concentrated the largest workforce were 40 to 44 years (47,836 people), 30 to 34 years (46,671  people), and 35 to 39 years (44,870 people). Among them they concentrated 38.5% of the total workforce.

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Ethnicity

Gender

In 2022, 13% of Credit counselors & loan officers workers were Hispanic and 87% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (76.4%), Puerto Rican (17.3)%, and All Other Spanish/Hispanic/Latino (6.27)%

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Races

In 2022, 75.1% of the Credit counselors & loan officers workforce were White, of which 52.4% were women and 47.6% men. Other races that concentrated a significant number of workers were Black (9.44%) and Two or More Races (7.17%).

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Education & Skills

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 the most specialized major according to RCA in 2022 were Agriculture.

Among the necessary skills for Credit counselors & loan officers, Speaking stands, but the revealed comparative advantage (RCA) shows that Credit counselors & loan officers need more than the average amount of Mathematics.

Majors

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

The most common majors achieved by Credit counselors & loan officers in 2022 (counting all academic degrees) were Business (96,948 people), Social Sciences (18,762 people), and Communications (8,487 people).

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Education Levels

Metric

The main educational levels achieved by the Credit counselors & loan officers workers were Bachelors Degree (153,289 people), Some college (84,304 people), and High School or Equivalent (45,950 people).

The graphic shows the Credit counselors & loan officers workforce by gender and educational level.

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Skills

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Value

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, Reading Comprehension.

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