How Much Do Loan Counselors Make in 2021 (including Starting Salary)

Stan T.Career, SalaryLeave a Comment

Annual Salary, Salary Range, and Highest Paying States and Industries

Loan Counselors

Loan Counselors provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.

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Table of contents
  1. Average salary
  2. Starting salary
  3. Salary rank
  4. Salary range
  5. Highest paying states
  6. Highest paying industries

Average salary

Annual salary
$49940 per year
Hourly wage
$24 per hour

Starting salary

Entry-level annual salary
$32,160 to $37,640 per year
Entry-level hourly wage
$15 to $18 per hour

Entry-level Loan Counselors with little to no experience can expect to make anywhere between $32,160 to $37,640 per year or $15 to $18 per hour. Similar to any other job, their salary will increase as they gain experience.

Salary rank

Salary rank

We wanted to make it easy for our readers to compare the salary of Loan Counselors to all the other careers out there. So we created Salary Rank. We compared the salary of all careers then we gave them a rank of A, B, C, or D depending on where their average salary sit in comparison to other careers.

Salary range

Level Hourly Annual
Highest (Top 10%) $36 $74,410
Senior (Top 25%) $28 $57,220
Middle (Mid 50%) $22 $46,170
Junior (Bottom 25%) $18 $37,640
No experience (Bottom 10%) $15 $32,160

Highest paying states

State Hourly Annual
DC $34 $70,530
NJ $33 $68,500
NY $32 $65,810
RI $30 $62,210
AK $29 $59,460
MA $27 $56,990
PA $27 $56,860
GA $27 $56,760
NC $27 $56,550
MO $26 $54,450

Another simple way to increase your salary as a Loan Counselor is to move to a higher paying state. However moving to a higher paying state like DC doesn’t guarantee that you will make more because the expenses at DC might be much higher than where you are currently living at right now.

According to BLS, the highest paid Loan Counselors are in the states of DC, NJ, NY, RI and AK.

Highest paying industries

Salary by industry Annual Hourly
Automobile Dealers $98020 $47.13
Other Motor Vehicle Dealers $93860 $45.13
Securities, Commodity Contracts, and Other Financial Investments and Related Activities $92910 $44.67
Data Processing, Hosting, and Related Services $89510 $43.03
Real Estate $89160 $42.87
Rental and Leasing Services $87360 $42.00
Grantmaking and Giving Services $86560 $41.62
Agencies, Brokerages, and Other Insurance Related Activities $84650 $40.70
Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers $83450 $40.12
Management of Companies and Enterprises $78530 $37.75
Other Investment Pools and Funds $77510 $37.26
Employment Services $77090 $37.06
Credit Intermediation and Related Activities $76420 $36.74
Management, Scientific, and Technical Consulting Services $75680 $36.39
Nondepository Credit Intermediation $75360 $36.23
Residential Building Construction $73420 $35.30
Federal Executive Branch $73160 $35.17
Accounting, Tax Preparation, Bookkeeping, and Payroll Services $72560 $34.89
Legal Services $70590 $33.94
Insurance Carriers $70370 $33.83
State Government $70180 $33.74
Local Government $65740 $31.61
Computer Systems Design and Related Services $65360 $31.43
Social Advocacy Organizations $61300 $29.47
Colleges, Universities, and Professional Schools $60200 $28.94
Community Food and Housing, and Emergency and Other Relief Services $55820 $26.84
Individual and Family Services $54100 $26.01
Other Professional, Scientific, and Technical Services $53180 $25.57
Junior Colleges $52670 $25.32
Business, Professional, Labor, Political, and Similar Organizations $50930 $24.48

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