Average Credit Counselors Salary in Illinois
Credit Counselors in Illinois earn an average annual salary of $55,210, a figure that closely mirrors the national average of $55,430. This slight parity suggests that while Illinois offers a competitive compensation landscape for this role, local economic factors and demand play a nuanced role in setting pay scales.
Executive Summary
- Average Salary: $55,210 per year.
- Growth Trend: Salaries have shifted 22.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $76,510.
- Outlook: With a local workforce of 1,490 Credit Counselors, Illinois demonstrates a significant presence in this sector. The location quotient of 1.35 indicates a higher concentration of these professionals compared to the national average, suggesting a robust and established job market with potentially strong demand for skilled individuals.
Salary Overview
The average Credit Counselors in Illinois earns-0.4%below the national average.
$26.5
$1,062
$4,601
Credit Counselors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Credit Counselors in Illinois have experienced steady growth over the past four years, aligning with general economic trends and inflation. This upward trajectory likely reflects increasing demand for financial guidance services and the evolving complexities of consumer debt management.
Credit Counselors Salary Distribution in Illinois
Career progression for Credit Counselors in Illinois typically involves a salary increase tied to experience. Entry-level positions might start at a lower percentile, while senior counselors with extensive expertise and a proven track record can command salaries in the higher percentiles, reflecting their specialized knowledge and client management capabilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $40,170 | $19.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $41,408 | $19.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $51,160 | $24.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $69,013 | $33.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $76,510 | $36.8 |
Detailed Credit Counselors Market Analysis
Relocation Context
Nominal Salary
$55,210
Gross Pay
Real Wage (Purchasing Power)
$60,142
Adjusted for COL (91.8)
The average annual salary of $55,210 in Illinois is quite favorable when considered against the state's Cost of Living Index of 91.8. This index, being below the national average of 100, means that the purchasing power of a Credit Counselor's salary in Illinois is likely higher than the nominal figure suggests, offering a good standard of living.
Job Market Context
1,490
Total Jobs
0.246
Per 1K Jobs
1.35
Location Quotient
With a location quotient of 1.35, Illinois has a slightly higher-than-average concentration of Credit Counselors roles compared to the national norm.
Illinois's location quotient of 1.35 signifies a notable concentration of Credit Counselors relative to the national distribution. This suggests that the job market in Illinois is more specialized in this field than the average state, potentially leading to a more competitive environment for job seekers but also indicating a strong ecosystem of related services and opportunities.
Nearby Job Markets
Nearby Cities for Credit Counselors
| City | Salary | Dist. |
|---|---|---|
| Peoria, IL Credit Counselors Salary | $46,600↓ 16% | 43 mi |
Comparing salaries near Illinois
Hiring Credit Counselorss?
Frequently Asked Questions
How much does a Credit Counselors make in Illinois?
The median annual salary for a Credit Counselors in Illinois is $55,210. This typically ranges from $40,170 for entry-level positions to $76,510 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Illinois is 0.4% lower than the national median of $55,430.
Is Illinois a lucrative place for Credit Counselors?
Yes, Illinois offers a competitive environment for Credit Counselors.The state's average salary is on par with the national average, and the lower cost of living enhances purchasing power. Furthermore, a higher concentration of these professionals indicates a strong market demand.
Is Illinois a good place to live for Credit Counselors?
With a Cost of Living Index of 91.8 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Illinois?
Some top paying nearby cities include Peoria, IL ($46,600) and others.
How does the number of Credit Counselors in Illinois compare nationally?
Illinois has a local workforce of 1,490 Credit Counselors, and a location quotient of 1.35 indicates a higher concentration of these professionals compared to the national average.
What is the cost of living for Credit Counselors in Illinois?
The Cost of Living Index in Illinois is 91.8, which is below the national average of 100, suggesting that living expenses are generally more affordable than the national average.
How does experience affect a Credit Counselor's salary in Illinois?
Experience significantly impacts salary, with entry-level positions earning less and senior counselors with extensive expertise commanding higher salaries, often reflected in percentile differences.
Is the job market for Credit Counselors strong in Illinois?
Yes, the location quotient of 1.35 suggests a strong and concentrated market for Credit Counselors in Illinois, indicating a healthy demand for their services.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,490 employees in the Illinois area with a job density of 0.246 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Credit Counselors Salaries by State
Top Jobs in Illinois
- All Occupations Salary in Illinois
- Office and Administrative Support Occupations Salary in Illinois
- Transportation and Material Moving Occupations Salary in Illinois
- Management Occupations Salary in Illinois
- Food Preparation and Serving Related Occupations Salary in Illinois
- Sales and Related Occupations Salary in Illinois
- Production Occupations Salary in Illinois
- Business and Financial Operations Occupations Salary in Illinois
- Healthcare Practitioners and Technical Occupations Salary in Illinois
- Educational Instruction and Library Occupations Salary in Illinois
- Browse All Jobs in Illinois →
Semantic Salary Analysis for Credit Counselors • Data source: BLS OEWS 2024 •Jobs in Illinois