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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.

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 2016

     
Metro Area Total Employment Annual Mean Salary
Los Angeles-Long Beach-Anaheim 3,490 $89,930
Dallas-Fort Worth-Arlington 3,170 $90,910
Houston-The Woodlands-Sugar Land 1,700 $75,800
San Francisco-Oakland-Hayward 1,700 $112,560
Atlanta-Sandy Springs-Roswell 1,250 $70,370
Phoenix-Mesa-Scottsdale 1,060 $75,070
Milwaukee-Waukesha-West Allis 1,000 $72,630
Miami-Fort Lauderdale-West Palm Beach 1,000 $76,650
Denver-Aurora-Lakewood 980 $75,130
San Antonio-New Braunfels 890 $79,690

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Total employment and salary for professions similar to credit analysts

Career Stories (Job Profiles) for Credit Analysts

To find out more about building a career as Credit Analysts, we spoke with professionals in the field across a variety of specialties. Learn about their experiences on the job, the steps they took to complete their education, and what it takes to excel in this industry. Click the link to see a story.

All Types

Source : 2016 Occupational Employment Statistics, Bureau of Labor Statistics, U.S. Department of Labor, BLS.gov

Most Popular Industries for
Credit Analysts

These industries represent at least 1% of the total number of people employed in this occupation.

Industry Total Employment Percent Annual Median Salary
Banking And Credit 41,630 56% $52,760
Auto And Auto Parts Dealers 7,020 9% $69,430
Business Management 6,540 8% $53,490
Securities And Investment 3,200 4% $75,150
Non-durable Goods Wholesale 2,260 3% $51,020
Professional And Technical Services 1,800 2% $60,340
Office Services And Staffing 1,800 2% $47,680
Durable Goods Wholesale 1,580 2% $54,120
Insurance 1,240 1% $50,850
Telecommunications 840 1% $62,940
Traditional Publishing 750 1% $78,840
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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.

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