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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 2016 and published in April 2017 [1].

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$32,310
25th Percentile Wage
$43,270
50th Percentile Wage
$61,030
75th Percentile Wage
$89,160
90th Percentile Wage
$128,660

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 $128,660. The median annual salary (50th percentile) is $61,030. The average annual salary for the bottom 10 percent is $32,310. We note that in the United States, the annual salary of the 90th percentile (the top 10 percent of the highest paid) is almost 298% higher than that of the bottom 10 percent.

Salary Trend (2012 to 2016)

The following table and chart show the trend of the median salary of credit counselors and loan officers from 2012 to 2016.

YearMedian SalaryYearly Growth4-Year Growth
201661,0300.20%5.78%
201560,9101.30%-
201460,1201.71%-
201359,0902.69%-
201257,500--

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

The average salaries of credit counselors and loan officers in 14 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 $84,030. The lowest paying sector is the health care and social assistance sector (annual salary $42,420).

Industry Sector Median Annual Salary
Retail Trade
$84,030
Federal, State, and Local Government
$71,100
Information
$68,860
Management of Companies and Enterprises
$65,550
Real Estate and Rental and Leasing
$62,040
Finance and Insurance
$61,700
Wholesale Trade
$57,830
Construction
$55,910
Administrative and Support and Waste Management and Remediation Services
$55,120
Transportation and Warehousing
$50,800
Professional, Scientific, and Technical Services
$48,230
Other Services (except Federal, State, and Local Government)
$47,140
Educational Services
$45,900
Health Care and Social Assistance
$42,420


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Highest paying industries for credit counselors and loan officers.