Credit counselors & loan officers

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 $85,275 in 2020.

The locations that employ the most Credit counselors & loan officers are West Des Moines & Urbandale Cities PUMA, IA, Boone County PUMA, MO, and Gilbert (South) & Queen Creek Towns PUMA, AZ. The locations with a relatively high concentration of Credit counselors & loan officers are Gilbert (South) & Queen Creek Towns PUMA, AZ, Colorado Springs City (East) & Cimarron Hills PUMA, CO, and Johnson, Lafayette, Ray, Clinton & Caldwell Counties PUMA, MO.

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

Employment and salary information for the Credit counselors & loan officers workforce. Credit counselors & loan officers workforce in 2020 was 333,126 people, of which 54.8% were women and 45.2% were men. Credit counselors & loan officers are paid most in Northfield & New Trier Townships PUMA, IL but are relatively concentrated in Gilbert (South) & Queen Creek Towns PUMA, AZ.

Employment Over Time

Metric

Grouping

150,504

Male Workforce

± 9.52k

182,622

Female Workforce

± 10.5k

The Credit counselors & loan officers workforce in 2020 was 333,126 people (54.8% women and 45.2% men). This implies an average annual growth of 8.69% between 2014 (306,505) and 2020 (333,126).

Employment by Location

Level

Metric

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

During 2020, the states that concentrated the best average annual wage were District of Columbia ($132,511), Connecticut ($113,397), and California ($102,604).

Yearly Wage Ranking

$85,275

AVERAGE WAGE

#84 in the ranking (2020)

$55,954

NATIONAL AVERAGE WAGE

For all occupations across the US

In 2020, Credit counselors & loan officers earned an average of $85,275, $29,321 more than the average national salary of $55,954

The graph shows the ranking of Credit counselors & loan officers in relation to all Detailed Occupation in 2020.

Wage Distribution

Gender

0.415

WAGE GINI

In 2020, Credit counselors & loan officers had a wage GINI coefficient of 0.415, 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.

Industry

Information on the industries that employ Credit counselors & loan officers and on wages 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 ($131,699).

Occupations by Industries

Metric

Value

333k

2020 Workforce

± 14,154

3.18%

1 YEAR GROWTH

± 5.87%

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 45.9%, followed by Nondepository credit & related activities with 43.1% and Savings institutions, including credit unions with 11%.

Diversity

Demographic information on Credit counselors & loan officers in the US. The workforce of Credit counselors & loan officers in 2020 was 333,126 people, with 54.8% woman, and 45.2% men. The average age of male Credit counselors & loan officers in the workforce is 42.9 and of female Credit counselors & loan officers is 43.5, 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 2020 was 333,126 people, with 54.8% woman, and 45.2% men.

The age ranges that concentrated the largest workforce were 35 to 39 years (41,948 people), 30 to 34 years (41,942 people), and 40 to 44 years (41,869 people). Among them they concentrated 37.8% of the total workforce.

Ethnicity

Gender

In 2020, 11.6% of Credit counselors & loan officers workers were Hispanic and 88.4% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (80.7%), Puerto Rican (12.6)%, and All Other Spanish/Hispanic/Latino (6.7)%

You can review this information by gender using the selectors above.

Races

In 2020, 79.5% of the Credit counselors & loan officers workforce were White, of which 52.9% were women and 47.1% men. Other races that concentrated a significant number of workers were Black (9.25%) and Asian (4.84%).

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 2020 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 2020 (counting all academic degrees) were Business (91,873 people), Social Sciences (17,167 people), and Communications (7,461 people).

You can review this information for different academic grades by modifying the option selected in the selector above.

Education Levels

Metric

The main educational levels achieved by the Credit counselors & loan officers workers were Bachelors Degree (136,535 people), Some college (79,726 people), and High School or Equivalent (43,821 people).

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

Skills

Chart

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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