Credit counselors & loan officers

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Total Workforce

313k

Average Age

Average Salary

$82,483

Average Male Salary

$103,966

Average Female Salary

$64,261

About

Employment

Diversity

Education

Skills

About

Credit counselors & loan officers are most often employed by the Banking & related activities industry. The average yearly wage for Credit counselors & loan officers was $82,483 in 2016. The top 3 most similar occupations to Credit counselors & loan officers by wage are Agents & business managers of artists, performers, & athletes, Detectives & criminal investigators, and Advertising & promotions managers.

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 Irvine City (Central) PUMA, CA, Boone County PUMA, MO, and San Diego City (Southwest/Central Coastal) PUMA, CA. The top 3 locations with a relatively high concentration of Credit counselors & loan officers are Phoenix City (Northeast) PUMA, AZ, Gilbert (South) & Queen Creek Towns PUMA, AZ, and Boone County PUMA, MO.

Photo by paul bica

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. Banking & 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 Phoenix City (Northeast) PUMA, AZ.

Wages

Yearly Wage

$82,483

AVERAGE SALARY

± $3,675

In 2018, Credit counselors & loan officers earned an average of $82,483, $28,595 more than than the average national salary of $53,888.

Detectives & criminal investigators make somewhat more than Credit counselors & loan officers while Agents & business managers of artists, performers, & athletes make somewhat less. This chart shows the various occupations closest to Credit counselors & loan officers as measured by average annual salary in the US.

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Wage Distribution

0.411

WAGE GINI

In 2018, Credit counselors & loan officers had a wage GINI coefficient of 0.411, which is lower than than the national average of 0.479. 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).

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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.

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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.

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Industries

Most Common

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

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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, Other personal services, Agencies, brokerages, and other insurance related activities, Insurance carriers & related activities, Real estate, and Nondepository credit & related activities.

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Industries by Share

313k

2018 Workforce

± 13,731

0.409%

1 YEAR GROWTH

± 6.18%

The number of people employed as Credit counselors & loan officers has been growing at a rate of 0.409%, from 312,154 people in 2017 to 313,432 people in 2018.

This graphic shows the share of Credit counselors & loan officers employed by various industries. Banking & related activities employs the largest share of Credit counselors & loan officers at 44.1%, followed by Nondepository credit & related activities with 36.1% and Savings institutions, including credit unions with 7.7%.

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Diversity

Demographic information on Credit counselors & loan officers in the US. The average age of male Credit counselors & loan officers in the workforce is 42.6 and of female Credit counselors & loan officers is 43.4, and the most common race/ethnicity for Credit counselors & loan officers is White.

Gender Composition

144k

MALE WORKFORCE

± 9,307

170k

FEMALE WORKFORCE

± 10,105

54.1% 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.

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Race & Ethnicity

Most Common Race or Ethnicity of Credit counselors & loan officers

White
Black
Asian

80.5% of Credit counselors & loan officers are White, making that the most common race or ethnicity in the occupation. Representing 9.33% of Credit counselors & loan officers, Black is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Credit counselors & loan officers.

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Age by Gender

42.6

AVERAGE MALE AGE

± 0.806

43.4

AVERAGE FEMALE AGE

± 0.735

The median age of Credit counselors & loan officers is 43, and Male employees are generally 0.74 years younger than than their Female counterparts.

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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

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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 Reading Comprehension and Active Listening. The revealed comparative advantage (RCA) shows that Credit counselors & loan officers need more than the average amount of Learning Strategies, Instructing, and Mathematics.