The annual salary statistics of credit counselors in Memphis, Tennessee is shown in Table 1. The wage data of credit counselors in Memphis is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $37,040 |
| 25th Percentile Wage | $38,600 |
| 50th Percentile Wage | $49,820 |
| 75th Percentile Wage | $65,560 |
| 90th Percentile Wage | $65,560 |
Table 1 shows the average annual salary for credit counselors in Memphis, Tennessee in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $65,560. The median (50th percentile) annual salary is $49,820. The average annual salary for the bottom 10 percent earners is $37,040.
The table and chart below show the trend of the median salary of credit counselors from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $49,820 | 3.05% | 43.12% |
| 2021 | $48,300 | 0.89% | - |
| 2020 | $47,870 | 6.10% | - |
| 2019 | $44,950 | 3.52% | - |
| 2018 | $43,370 | 2.05% | - |
| 2016 | $42,480 | -21.14% | - |
| 2015 | $51,460 | 19.69% | - |
| 2014 | $41,330 | 15.73% | - |
| 2013 | $34,830 | 18.63% | - |
| 2012 | $28,340 | - | - |
From Table 3 we note that with a median annual salary of $49,820, Memphis is the second highest paying city for credit counselors in state of Tennessee, following the highest paying city Chattanooga (median annual salary of $60,370). Compared with Chattanooga, the median annual salary of credit counselors in Memphis is 17.5 percent (17.5%) lower.