What is the average salary for a credit analyst in the US? (2024)

What is the average salary for a credit analyst in the US?

Credit analysts earn an average yearly salary of $77,440.

How much does a credit analyst make in us?

How much does a Credit Analyst make? As of Mar 19, 2024, the average hourly pay for a Credit Analyst in the United States is $29.92 an hour.

Where do credit analysts make the most money?

Is credit analyst a stressful job?

A credit analyst's evalation is often not as simple as yes or no. For example, a credit analyst may approve an individuals for a loan, but only if certain conditions are met. One of the highest stress aspects of a role as a credit analyst, is that the job comes with a high level of responsibility.

Is credit analysis a good career?

Credit risk analyst positions can be fairly lucrative. The average annual compensation for a credit risk analyst is about $82,000. Since credit risk analysis includes so many different positions, it's helpful to keep in mind that this number is an average. Some positions will pay more, while some will pay less.

Is credit analyst a difficult job?

The job can be a pathway to a career as an investment banker, portfolio manager, or loan and trust manager. Being a credit analyst can be a stressful job. You often must decide whether a person or a company can make a purchase, and at what interest rate, which is a significant responsibility.

Do I need a degree to be a credit analyst?

For professionals looking to take the credit analyst career path, they need to obtain a bachelor's degree in business, finance or accounting, or at least an associated degree and relevant experience in a financial institution.

What is the life of a credit analyst?

Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans. Evaluate customer records and recommend payment plans based on earnings, savings data, payment history, and purchase activity.

What is the highest salary for a credit analyst?

Credit Analyst salary in India ranges between ₹ 2.1 Lakhs to ₹ 16.0 Lakhs with an average annual salary of ₹ 8.0 Lakhs. Salary estimates are based on 6.8k latest salaries received from Credit Analysts.

Are Credit Analysts in demand?

Outlook. 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.

What are the 5 C's of credit?

Each lender has its own method for analyzing a borrower's creditworthiness. Most lenders use the five Cs—character, capacity, capital, collateral, and conditions—when analyzing individual or business credit applications.

Can Credit Analysts work from home?

As a work from home credit analyst, you review financial data to assess the creditworthiness of an individual or business. In this role, you work remotely and communicate with the lender via phone or online.

What type of person makes a good credit analyst?

Credit analysts tend to be predominantly conventional individuals, meaning that they are usually detail-oriented and organized, and like working in a structured environment. They also tend to be enterprising, which means that they are usually quite natural leaders who thrive at influencing and persuading others.

Do credit analysts make a lot of money?

The highest salary for a Credit Analyst in Los Angeles, CA is $119,766 per year. What is the lowest salary for a Credit Analyst in Los Angeles, CA? The lowest salary for a Credit Analyst in Los Angeles, CA is $73,064 per year. What is the a Credit Analyst career path and salary trajectory?

Are credit analysts happy?

On average, credit analysts rate the meaningfulness of their work a 2.3/5. The majority of credit analysts struggle to find any sort of meaning in their work, likely resulting in less satisfaction with the career overall.

Which is better financial analyst or credit analyst?

The primary distinction between these roles lies in their focus and scope. Credit Analysts are primarily dedicated to assessing credit risk and facilitating loan approvals, whereas Financial Analysts have a broader mandate, encompassing financial planning, investment analysis, and budget management.

How many hours do Credit Analysts work?

The work of a credit analyst is office-based, and an analyst can expect to work for an average of eight to 14 hours per day. Sometimes, credit analysts can work more hours into the night when deadlines are looming or when there is a critical situation that requires to be addressed by the credit team.

What are the levels of credit analyst?

A credit analyst can have a variety of career paths. They can become a finance analyst, manager, or vice president. They can also move into underwriting, senior underwriting, or an underwriting manager role. Often, they will become a credit manager or credit and collection manager.

How do I prepare to be a credit analyst?

Step One: Obtain a bachelor's degree in a relevant field such as accounting, finance, economics, or business administration. Step Two: Gain relevant work experience. Step Three: Develop financial analysis and credit analysis skills.

How many years of school do you need to be a credit analyst?

In general, you can become a Credit Analyst after completing your 4 year Bachelor's Degree in a related discipline. Depending on the type of Credit Analyst role you're pursuing, you may want to explore certification in certified humint collector.

What are the duties of a credit analyst?

Credit analysts are hired by commercial and credit unions to analyze the financial data of a potential client. The analyst will evaluate the client's credit payment history, assets, liabilities, and earnings history to determine their suitability for credit terms.

What is the career path of a credit analyst in a bank?

On the commercial banking side, there are two main options in the credit analyst career path: Stay in credit, keep analyzing new issuances and monitoring the portfolio, and advance up the ladder to become a “Portfolio Manager.”

Will credit analysts be replaced?

While the role of financial analysts may evolve with the use of AI, it is unlikely that they will be replaced entirely. Human judgment and the ability to account for external factors are skills that AI may not possess yet.

What is the growth rate for credit analysts?

Employment Over Time

The Credit analysts workforce in 2021 was 34,300 people (53.1% women and 46.9% men). This implies an average annual growth of 27% between 2014 (27,003) and 2021 (34,300).

How old is the average financial analyst?

The workforce of Financial analysts in 2021 was 273,293 people, with 41.4% woman, and 58.6% men. The average age of male Financial analysts in the workforce is 37.6 and of female Financial analysts is 40.6, and the most common race/ethnicity for Financial analysts is White.