Credit Counselors in Wisconsin
Thinking about a career as a Credit Counselors in Wisconsin? Here’s what you need to know. Advise and educate individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explain loan requirements or restrictions. May help develop debt management plans or student financial aid packages. May advise on credit issues, or provide budget, mortgage, bankruptcy, or student financial aid counseling.
What do Credit Counselors Make in Wisconsin?
For a credit counselors working in Wisconsin, the typical annual salary is $51,340 per year (or about $24.69/hour).Earnings range from $43,140 at the 10th percentile to $65,630 at the 90th percentile.
| Wage Statistic | Annual | Hourly |
|---|---|---|
| 10th percentile | $43,140 | $20.74 |
| 25th percentile | $47,150 | $22.67 |
| Median (50th) | $51,340 | $24.69 |
| 75th percentile | $59,240 | $28.48 |
| 90th percentile | $65,630 | $31.55 |
The location quotient — a measure of how concentrated this occupation is in Wisconsin compared to the national average — is 1.60, indicating that credit counselors are more concentrated here than the national average.
National Wage Comparison
Nationally, credit counselors earn a median of $86,279 per year ($41.48/hour), lower than the Wisconsin median.
Employment Outlook
There are roughly 396,479 credit counselors nationwide. In Wisconsin alone, approximately 850 people work in this role. That puts the state above the typical state, which employs around 270 credit counselors.
Top Wisconsin Metros for Credit Counselors
The largest metro-area employers of credit counselors in Wisconsin.
| Metro Area | Number Employed | Annual Median Salary |
|---|---|---|
| Milwaukee-Waukesha, WI | 290 | $53,820 |
| Madison, WI | 100 | $55,590 |
| Green Bay, WI | 60 | $50,770 |
| La Crosse-Onalaska, WI-MN | 40 | $47,770 |
| Janesville-Beloit, WI | 30 | $40,620 |
Top States for Credit Counselors Employment
View the states that employ the most credit counselors work.
| State | Number Employed |
|---|---|
| Texas | 3,530 |
| Florida | 2,760 |
| California | 2,160 |
| New York | 1,760 |
| Illinois | 1,490 |
| Pennsylvania | 1,420 |
| Michigan | 1,280 |
| Arizona | 1,240 |
| Massachusetts | 930 |
| Tennessee | 880 |
| Ohio | 870 |
| Wisconsin | 850 |
| Virginia | 850 |
| Minnesota | 590 |
| Indiana | 570 |
| Iowa | 490 |
| New Jersey | 460 |
| Colorado | 380 |
| North Carolina | 360 |
| Maryland | 320 |
Highest-Paying States for Credit Counselors
Where credit counselors earn the most: credit counselors.
| State | Annual Median Salary |
|---|---|
| California | $65,820 |
| New Jersey | $63,330 |
| New York | $62,090 |
| Massachusetts | $62,060 |
| District of Columbia | $61,810 |
| Washington | $61,170 |
| Oregon | $58,730 |
| Minnesota | $58,640 |
| Maryland | $58,300 |
| Rhode Island | $58,220 |
Skills
Key credit counselors skills, rated on an importance scale of 0 to 5:
Knowledge Areas
Key knowledge areas for this occupation, rated on an importance scale of 0 to 5:
Abilities
Key abilities for credit counselors, rated on an importance scale of 0 to 5:
Daily Tasks
Credit Counselors typically:
- Calculate clients' available monthly income to meet debt obligations.
- Explain services or policies to clients, such as debt management program rules, advantages and disadvantages of using services, or creditor concession policies.
- Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
- Prioritize client debt repayment to avoid dire consequences, such as bankruptcy or foreclosure or to reduce overall costs, such as by paying high-interest or short-term loans first.
- Assess clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- Recommend strategies for clients to meet their financial goals, such as borrowing money through loans or loan programs, declaring bankruptcy, making budget adjustments, or enrolling in debt management plans.
- Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
- Interview clients by telephone or in person to gather financial information.
- Estimate time for debt repayment, given amount of debt, interest rates, and available funds.
- Prepare written documents to establish contracts with or communicate financial recommendations to clients.
- Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries.
- Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or payment plans.
Work Activities
- Getting Information
- Documenting/Recording Information
- Working with Computers
- Making Decisions and Solving Problems
- Communicating with People Outside the Organization
- Updating and Using Relevant Knowledge
- Processing Information
- Performing for or Working Directly with the Public
- Performing Administrative Activities
- Identifying Objects, Actions, and Events
- Establishing and Maintaining Interpersonal Relationships
- Communicating with Supervisors, Peers, or Subordinates
Tools & Technology
Common tools and software used in this occupation include: Hot technologies: Microsoft Access In-demand technologies: Microsoft Excel
What Major Will Prepare You For This Career?
Related college programs include:
- Finance & Financial Management
Featured schools near , edit
Related Careers
Careers similar to credit counselors include:
- Financial Managers
- Accountants and Auditors
- Credit Analysts
- Financial and Investment Analysts
- Personal Financial Advisors
- Loan Officers
Also Known As
Accredited Financial Counselor, Branch Credit Counselor, Certified Consumer Credit and Housing Counselor, Certified Credit Consultant, Certified Credit Counselor, Certified Credit and Housing Counselor, Consumer Credit Counselor, Consumer Lending Manager, Credit Associate, Credit Balance Specialist, Credit Card Specialist, Credit Counselor, Credit Representative, Credit Review Specialist, Credit Services Representative.
References
- U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
- O*NET Online — https://www.onetonline.org/
- BLS Employment Projections — https://www.bls.gov/emp/
- O*NET-SOC code: 13-2071.00
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