All About Credit Analysts
Credit Analyst Job Description Analyze credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with credit information for use in decision making.
Daily Life Of a Credit Analyst
- Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans.
- Prepare reports that include the degree of risk involved in extending credit or lending money.
- Review individual or commercial customer files to identify and select delinquent accounts for collection.
- Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
- Confer with credit association and other business representatives to exchange credit information.
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
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Credit Analyst Needed Skills
When polled, Credit Analysts say the following skills are most frequently used in their jobs:
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking: Talking to others to convey information effectively.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Other Credit Analyst Job Titles
- Credit Assessment Analyst
- Credit Manager
- Credit Coordinator
- Credit Administrator
- Factorer
Credit Analyst Employment Estimates
In 2016, there was an estimated number of 73,800 jobs in the United States for Credit Analyst. New jobs are being produced at a rate of 8.3% which is above the national average. The Bureau of Labor Statistics predicts 6,100 new jobs for Credit Analyst by 2026. There will be an estimated 6,800 positions for Credit Analyst per year.
The states with the most job growth for Credit Analyst are Utah, Arizona, and Nevada. Watch out if you plan on working in Wyoming, West Virginia, or Vermont. These states have the worst job growth for this type of profession.
Average Credit Analysts Salary
The salary for Credit Analysts ranges between about $43,100 and $137,610 a year.
Credit Analysts who work in District of Columbia, New York, or Virginia, make the highest salaries.
How much do Credit Analysts make in different U.S. states?
| State | Annual Mean Salary |
|---|---|
| Alabama | $80,900 |
| Arizona | $63,710 |
| Arkansas | $60,540 |
| California | $89,430 |
| Colorado | $76,870 |
| Connecticut | $93,970 |
| Delaware | $68,010 |
| District of Columbia | $108,420 |
| Florida | $81,410 |
| Georgia | $70,040 |
| Hawaii | $82,580 |
| Idaho | $63,950 |
| Illinois | $77,800 |
| Indiana | $61,790 |
| Iowa | $68,680 |
| Kansas | $68,720 |
| Kentucky | $75,160 |
| Louisiana | $63,690 |
| Maine | $69,420 |
| Maryland | $70,150 |
| Massachusetts | $84,020 |
| Michigan | $71,070 |
| Minnesota | $81,070 |
| Mississippi | $60,220 |
| Missouri | $75,620 |
| Montana | $71,890 |
| Nebraska | $64,420 |
| Nevada | $70,540 |
| New Hampshire | $84,250 |
| New Jersey | $85,030 |
| New Mexico | $61,500 |
| New York | $119,180 |
| North Carolina | $84,530 |
| North Dakota | $65,200 |
| Ohio | $77,510 |
| Oklahoma | $57,940 |
| Oregon | $74,520 |
| Pennsylvania | $80,710 |
| Rhode Island | $75,050 |
| South Carolina | $67,070 |
| South Dakota | $62,210 |
| Tennessee | $64,380 |
| Texas | $81,540 |
| Utah | $68,920 |
| Vermont | $77,670 |
| Virginia | $85,090 |
| Washington | $76,500 |
| West Virginia | $61,140 |
| Wisconsin | $70,550 |
| Wyoming | $57,460 |
What Tools & Technology do Credit Analysts Use?
Below is a list of the types of tools and technologies that Credit Analysts may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- SAP
- Structured query language SQL
- Microsoft Dynamics
- SAS
- Microsoft Visual Basic
- Microsoft SQL Server
- Oracle JD Edwards EnterpriseOne
- Oracle Business Intelligence Enterprise Edition
- Experian Credinomics
- Moody’s KMV CreditEdge
- CGI-AMS BureauLink Enterprise
- Experian Strategy Management
- CGI-AMS CACS Enterprise
- CGI-AMS Strata
- Credit and risk analysis software
- Credit fraud detection software
How to Become a Credit Analyst
Education needed to be a Credit Analyst:
What work experience do I need to become a Credit Analyst?
Credit Analysts Sector
The table below shows some of the most common industries where those employed in this career field work.
Similar Careers
Those interested in being a Credit Analyst may also be interested in:
Career changers with experience as a Credit Analyst sometimes find work in one of the following fields:
References:
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More about our data sources and methodologies.
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