Credit counselors & loan officers

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Total Workforce
313k
Average Age
43
Average Salary
$82,483
Average Male Salary
$103,966
Average Female Salary
$64,261

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.

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.

Employment

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

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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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 (Non-Hispanic).

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
  1. White (Non-Hispanic)
  2. Black (Non-Hispanic)
  3. White (Hispanic)

72.1% of Credit counselors & loan officers are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 9.16% of Credit counselors & loan officers, Black (Non-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.

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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 degree-majorss. However, we can filter the data based on highest degree-majors obtained.
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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.

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