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Credit Counselors and Loan Officer Salary Information

The salary statistics of credit counselors and loan officers are shown in Table 1. The average hourly salary of credit counselors and loan officers in the United States is shown in Table 2. In the next few tables we compare the average salaries of credit counselors and loan officers within different industry sectors and in the 50 states of the United States. The credit counselors and loan officers annual salary statistics are from the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2017 and published in April 2018 [1].

Table 1. Credit Counselors and Loan Officer Salary in the United States

Percentile BracketAverage Annual Salary
10th Percentile Wage
$32,120
25th Percentile Wage
$43,680
50th Percentile Wage
$61,840
75th Percentile Wage
$90,480
90th Percentile Wage
$130,770

Table 1 shows the average annual salary for credit counselors and loan officers. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) credit counselors and loan officers is $130,770. The median annual salary (50th percentile) is $61,840. The average annual salary for the bottom 10 percent is $32,120. Note that in the United States, the annual salary of the 90th percentile (the top 10 percent of the highest paid) is almost 307% higher than that of the bottom 10 percent.

Salary Trend (2012 to 2017)

The table and chart below show the trend of the median salary of credit counselors and loan officers from 2012 to 2017.

YearMedian SalaryYearly Growth5-Year Growth
2017
$61,840
1.31% 7.02%
2016
$61,030
0.20% -
2015
$60,910
1.30% -
2014
$60,120
1.71% -
2013
$59,090
2.69% -
2012
$57,500
- -

Table 2. Credit Counselors and Loan Officer Salary by Industry Sector

The average salaries of credit counselors and loan officers in 15 major industry sectors are shown in Table 2. We note that the salaries vary considerably within different industry sectors. The highest paying industry sector for credit counselors and loan officers occupations is the retail trade sector with an annual salary $82,640. The lowest paying sector is the health care and social assistance sector (annual salary $42,590).

Industry Sector Median Annual Salary
Retail Trade
$82,640
Federal, State, and Local Government
$72,170
Management of Companies and Enterprises
$65,550
Information
$62,980
Finance and Insurance
$62,740
Real Estate and Rental and Leasing
$59,440
Wholesale Trade
$57,930
Administrative and Support and Waste Management and Remediation Services
$54,810
Professional, Scientific, and Technical Services
$50,810
Transportation and Warehousing
$50,800
Construction
$49,810
Other Services (except Federal, State, and Local Government)
$49,010
Educational Services
$46,650
Manufacturing
$44,970
Health Care and Social Assistance
$42,590



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💰 Highest paying industries for credit counselors and loan officers.