Credit Analysts
Overview
Introduction
Credit analysts analyze financial information to evaluate the amount of risk involved in lending money to businesses or individuals. They contact banks, credit associations, and others to obtain credit information and prepare a written report of findings used to recommend credit limits. There are approximately 73,200 credit analysts employed in the United States.
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
Salaries of credit analysts depend on the individuals experience and education. The size of the financial institution is also a determining factor: Large banks tend to pay more than smaller operations. Salaries also increase with the number of years in the field and with a particular company. According to the U.S. Bureau of Labor Statistics, credit analysts had a median annual income of $79,420...
Work Environment
Most credit analysts work in typical corporate office settings that are well lighted and air-conditioned in the summertime. Some credit analysts may work a hybrid schedule with some days in the office and other days in a home office. Credit analysts can expect to work a 40-hour week, but they may have to put in overtime if a project has a tight deadline. A commercial credit analyst may have to ...
Outlook
Credit analysts are crucial to the success and profitability of banks and other financial organizations, and the number, variety, and complexity of credit applications are on the rise. As the field of cash management grows along with the economy and the population, banks and other financial institutions will need to hire credit analysts. Opportunities should be best for those with strong educat...