Credit counselor vs finance advisor

The differences between credit counselors and finance advisors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a credit counselor, becoming a finance advisor takes usually requires 2-4 years. Additionally, a finance advisor has an average salary of $64,993, which is higher than the $40,227 average annual salary of a credit counselor.

The top three skills for a credit counselor include customer service, debt management and outbound calls. The most important skills for a finance advisor are team support, wealth management, and securities.

Credit counselor vs finance advisor overview

	Credit Counselor	Finance Advisor
Yearly salary	$40,227	$64,993
Hourly rate	$19.34	$31.25
Growth rate	-8%	15%
Number of jobs	32,221	106,311
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 74%
Average age	45	45
Years of experience	2	4

Credit counselor vs finance advisor salary

Credit counselors and finance advisors have different pay scales, as shown below.

	Credit Counselor	Finance Advisor
Average salary	$40,227	$64,993
Salary range	Between $27,000 And $59,000	Between $34,000 And $121,000
Highest paying City	New York, NY	New York, NY
Highest paying state	New York	New York
Best paying company	BNY Mellon	Enbridge
Best paying industry	Finance	Finance

Differences between credit counselor and finance advisor education

There are a few differences between a credit counselor and a finance advisor in terms of educational background:

	Credit Counselor	Finance Advisor
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 74%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Minnesota - Twin Cities

Credit counselor vs finance advisor demographics

Here are the differences between credit counselors' and finance advisors' demographics:

	Credit Counselor	Finance Advisor
Average age	45	45
Gender ratio	Male, 41.2% Female, 58.8%	Male, 72.3% Female, 27.7%
Race ratio	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5%	Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1%
LGBT Percentage	8%	5%

Differences between credit counselor and finance advisor duties and responsibilities

Credit counselor example responsibilities.

Manage accounting operations, accounting close, account reporting and reconciliations.
Conduct underwriting reviews on FHA, VA, and other conforming and non-conforming loans within proper authority limits.
Gain thorough knowledge of FDCPA laws.
Complete in-service trainings, CPR training and medication certification course.
Determine services and assistance need through individual counseling for credit cards and for clients that are at risk for foreclosure.
Perform comprehensive financial assessment of homeowners facing financial crisis and at risk of foreclosure.

Finance advisor example responsibilities.

Manage all budget and forecast submissions into Hyperion.
Manage $3MM private investment portfolio consisting of mid-cap/large-cap equities.
Structure and manage investment portfolios using a range of financial instruments, including equity securities and fix income instruments.
Manage and strengthen customer relationships through cross-selling and up-selling to maximize retention and income generation by contacting existing and prospective customers.
Research eligibility and status of all Medicare and Medicaid patients.
Perform portfolio analysis using MorningStar workstation and complete cost basis research project.

Credit counselor vs finance advisor skills

Common credit counselor skills

Customer Service, 19%
Debt Management, 14%
Outbound Calls, 10%
Inbound Calls, 8%
Payment Arrangements, 4%
Credit Reviews, 4%

Common finance advisor skills

Team Support, 7%
Wealth Management, 7%
Securities, 6%
Strong Computer, 6%
Financial Services, 6%
Client Facing, 5%