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Credit Analysts picture    Credit Analysts image

Credit Analysts

Credit analysts evaluate credit information and financial statements of individuals and companies in order to determine the degree of risk involved in lending money or extending credit. Credit analysts create reports for decision making purposes. They examine customer's records and recommend payment plans based on savings information, earnings, payment history and purchasing activities.

As risk analysts, commercial credit analysts specialize in determining the ability of businesses to repay their loans and other types of debts. They determine the risk involved with providing business loans and extending lines of credit.

A credit analyst develops financial profiles for companies by examining its credit history and comparing its cash and other liquid assets to its debts. Commercial credit analysts work for banks, other types of commercial lenders and government agencies.

Responsibilities

  • Exchange credit information with credit associations and other types of business representatives
  • Create financial ratios by utilizing computer programs to evaluate a candidates financial status
  • Compare credit histories, liquidity and profitability of companies being evaluated with similar companies in the same industries and locations
  • Analyze a company's income growth, market share, management quality and other items to estimate the expected profitability from the loans
  • Compile data for financial reports
  • Monitor credit extension decisions

Job Characteristics

They should have a solid foundation in economics and accounting and mathematics. They should be detailed oriented and effective at analyzing data. A credit analyst also needs to be good at organizing and planning. Good interpersonal and communication skills are helpful.

Credit analysts utilize content workflow, document management and financial analysis software. They often work as part of a team and collaborate with management and clients.

Employment Outlook

The U.S. Department of Labor projects the growth rate for commercial credit analysts will be somewhat flat through 2016. In 2008 the annual median wage for credit analysts was $55,250. The top paying industries for credit analysts are financial investment activities and securities and commodity brokerages.

Education, Certification, and Licensing

Most credit analysts jobs require a bachelor's degree in accounting, finance, economics, business or a related financial field. They usually take classes in risk management, business, statistics, mathematics, information technology and appropriate computer software.

Resources

Major Employers

The top job providing sectors are banks, other types of lending institutions and the government.

Schools for Credit Analysts are listed in the Browse Schools Section.

Credit Analysts Skills

Below are the skills needed to be credit analysts according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 7 being highest).

   
Skill NameImportanceCompetence
Critical Thinking44.38
Active Learning3.623.88
Reading Comprehension3.54.12
Judgment and Decision Making3.53.88
Speaking3.54

Credit Analysts Abilities

Below are the abilities needed to be credit analysts according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 7 being highest).

   
Ability NameImportanceCompetence
Problem Sensitivity3.754.25
Mathematical Reasoning3.754.12
Oral Comprehension3.624.38
Oral Expression3.624.5
Number Facility3.624.5

Credit Analysts Knowledge

Below are the knowledge areas needed to be credit analysts according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 7 being highest).

   
Knowledge AreaImportanceCompetence
Economics and Accounting44.03
English Language3.633.8
Mathematics3.474.3
Customer and Personal Service3.33.86
Clerical3.234.2

Credit Analysts Work activities

Below are the work activities involved in being credit analysts according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest) and competency level on a scale of 1 to 7 (1 being lowest and 5 being highest).

   
Work ActivityImportanceCompetence
Getting Information4.54.37
Interacting With Computers4.283.4
Communicating with Supervisors, Peers, or Subordinates4.214.34
Analyzing Data or Information3.974.2
Making Decisions and Solving Problems3.934.23

Credit Analysts Work styles

Below are the work styles involved in being credit analysts according to their importance on the scale of 1 to 5 (1 being lowest and 5 being highest).

   
Work StyleImportance
Integrity4.6
Attention to Detail4.53
Analytical Thinking4.43
Dependability4.33
Self Control4.1

Metro Areas Sorted by Total Employment for
Credit Analysts

Listed below are the 10 largest metro areas based on the total number of people employed in Credit Analysts jobs , as of 2017

   
Metro AreaTotal EmploymentAnnual Mean Salary
Los Angeles-Long Beach-Anaheim3,560 $91,610
Dallas-Fort Worth-Arlington3,380 $93,020
Houston-The Woodlands-Sugar Land1,760 $85,070
San Francisco-Oakland-Hayward1,680 $108,950
Phoenix-Mesa-Scottsdale1,520 $62,540
Atlanta-Sandy Springs-Roswell1,400 $67,170
Columbus980 $76,880
San Diego-Carlsbad970 $95,480
Milwaukee-Waukesha-West Allis960 $78,070
Miami-Fort Lauderdale-West Palm Beach940 $77,080

Compare Total Employment & Salaries for Credit Analysts

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Employment
Salary

Total employment and salary for professions similar to credit analysts

Source : 2017 Occupational Employment Statistics and 2016-26 Employment Projections, Bureau of Labor Statistics, BLS.gov; O*NET® 22.1 Database, O*NET OnLine, National Center for O*NET Development, Employment & Training Administration, U.S. Department of Labor, onetonline.org

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We have some additional detailed pages at the state level for Credit Analysts.

Numbers in parentheses are counts of relevant campus-based schools in the state; online schools may also be available.