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Average Credit Counselors Salary in New York

Credit Counselors in New York earn an impressive average annual salary of $67,990, substantially exceeding the national average of $55,430. This elevated compensation is largely driven by New York's dynamic economic landscape and the specialized demand for financial advisory services within the state.

Executive Summary

  • Average Salary: $67,990 per year.
  • Growth Trend: Salaries have shifted 3.3% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $100,390.
  • Outlook: With a local workforce of 1,760 Credit Counselors and a Location Quotient of 1.01, the job market in New York indicates a stable and slightly above-average concentration of these professionals. This suggests a consistent demand for their expertise, reflecting a healthy employment environment for those in this field within the state.
2024 Market Data

Salary Overview

$67,990

The average Credit Counselors in New York earns+22.7%above the national average.

BreakdownBased on 40h/week
Hourly

$32.7

Weekly

$1,308

Monthly

$5,666

Credit Counselors Salary Distribution in New York

Career progression for Credit Counselors in New York typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while senior counselors with extensive experience and specialized skills can command salaries well above the average, with percentile gaps clearly signifying this advancement.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$48,310$23.2
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$50,993$24.5
ManagerOversees team, compliance, and project delivery.50% (Median)$62,090$29.9
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$84,988$40.9
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$100,390$48.3

Detailed Credit Counselors Market Analysis

Relocation Context

Nominal Salary

$67,990

Gross Pay

Real Wage (Purchasing Power)

$54,349

Adjusted for COL (125.1)

The average annual salary of $67,990 in New York presents a mixed picture when considering the state's Cost of Living Index of 125.1. While the nominal salary is robust, the higher cost of living means that the purchasing power of this salary is somewhat diminished compared to areas with a lower cost of living.

Job Market Context

1,760

Total Jobs

0.185

Per 1K Jobs

1.01

Location Quotient

Above Average

With a location quotient of 1.01, New York has a slightly higher-than-average concentration of Credit Counselors roles compared to the national norm.

A Location Quotient of 1.01 suggests that the concentration of Credit Counselors in New York is very close to the national average. This indicates a balanced job market where the number of professionals aligns closely with the national distribution, implying neither an oversupply nor a significant shortage of talent.

Nearby Job Markets

Nearby Cities for Credit Counselors

CitySalaryDist.
Scranton--Wilkes-Barre, PA Credit Counselors Salary$51,820↓ 24%64 mi
Albany-Schenectady-Troy, NY Credit Counselors Salary$62,010↓ 9%68 mi

Comparing salaries near New York

Hiring Credit Counselorss?

Frequently Asked Questions

How much does a Credit Counselors make in New York?

The median annual salary for a Credit Counselors in New York is $67,990. This typically ranges from $48,310 for entry-level positions to $100,390 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in New York is 22.7% higher than the national median of $55,430.

Is New York a lucrative place for Credit Counselors?

Yes, New York offers a lucrative environment for Credit Counselors.The average salary of $67,990 is significantly higher than the national average, indicating strong earning potential. However, the higher cost of living should also be factored into overall financial well-being.

Is New York a good place to live for Credit Counselors?

The Cost of Living Index in New York is 125.1. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near New York?

Some top paying nearby cities include Scranton--Wilkes-Barre, PA ($51,820) and Albany-Schenectady-Troy, NY.

How does New York's Credit Counselor salary compare to the national average?

Credit Counselors in New York earn an average of $67,990 annually, which is approximately $12,560 more than the national average of $55,430.

What is the concentration of Credit Counselors in New York?

New York has a Location Quotient of 1.01 for Credit Counselors, indicating a concentration that is just slightly above the national average.

How does the cost of living affect the Credit Counselor salary in New York?

With a Cost of Living Index of 125.1, New York is significantly more expensive than the national average, meaning the higher salary may not translate to proportionally higher disposable income.

What is the total number of Credit Counselors employed in New York?

There are approximately 1,760 Credit Counselors employed within New York state.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,760 employees in the New York area with a job density of 0.185 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Credit Counselors • Data source: BLS OEWS 2024 •Jobs in New York