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 75,800 credit analysts employed in the United States.
Minimum Education Level
Salaries of credit analysts depend on the individual's 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 $71,52...
Most credit analysts work in typical corporate office settings that are well lighted and air-conditioned in the summertime. 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 travel to the business or corporation that is seeking a loan in order to prepare the agreement. Credit analyst...
Employment for credit analysts is expected to grow by 5 percent from 2018 to 2028, according to the U.S. Department of Labor, or about as fast as the average for all careers. 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...