How much does a Credit Analyst make?
A Credit Analyst plays a key role in assessing the creditworthiness of individuals and businesses. This role is vital for financial institutions and businesses to make informed lending decisions. The average yearly salary for a Credit Analyst is $83,064. This figure can vary based on experience, location, and the specific industry.
Credit Analysts often start with a salary around $40,280. With experience, this can grow significantly. For those in the top 10% of earners, the salary can reach up to $167,500. Factors such as location, with cities like New York and San Francisco offering higher salaries, and industry, with financial services often paying more, can influence these figures.
What are the highest paying cities for a Credit Analyst?

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Washington, DC
Average Salary: $114,823
In Washington, DC, professionals assess credit risks for businesses and individuals. They work with major financial institutions, including banks and credit unions. The city's political environment offers unique insights into financial regulations.
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Boston, MA
Average Salary: $114,020
Boston offers a dynamic environment for credit analysts. They often work with tech companies and financial firms. The city's rich history in finance provides a solid backdrop for career growth.
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San Antonio, TX
Average Salary: $113,605
San Antonio provides a stable job market for credit analysts. They work with local banks and large corporations. The city's growing economy offers many opportunities for advancement.
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San Francisco, CA
Average Salary: $110,413
San Francisco is a hub for finance and technology. Credit analysts here often work with tech giants and innovative startups. The city's competitive market demands strong analytical skills.
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Minneapolis, MN
Average Salary: $106,888
Minneapolis offers a friendly job market for credit analysts. They work with major financial institutions and local banks. The city's strong economy and quality of life make it an attractive place to work.
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Portland, OR
Average Salary: $105,684
Portland provides a vibrant environment for credit analysts. They work with a mix of local businesses and larger companies. The city's focus on sustainability and innovation offers unique career paths.
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Knoxville, TN
Average Salary: $104,623
Knoxville offers a welcoming job market for credit analysts. They work with regional banks and local businesses. The city's lower cost of living and friendly community make it a great place to work.
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Milwaukee, WI
Average Salary: $100,937
Milwaukee provides a solid job market for credit analysts. They work with local banks and financial institutions. The city's strong manufacturing sector offers diverse opportunities.
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Chicago, IL
Average Salary: $100,818
Chicago offers a bustling job market for credit analysts. They work with major financial institutions and corporations. The city's rich history in finance provides a solid foundation for career growth.
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Charlotte, NC
Average Salary: $100,355
Charlotte provides a growing job market for credit analysts. They work with major banks and financial firms. The city's strong economy and expanding tech sector offer many opportunities for advancement.
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What are the best companies a Credit Analyst can work for?

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USAA
Average Salary: $155,270
USAA offers competitive salaries for Credit Analysts. They focus on providing financial services to the military and their families. USAA operates across the United States, with major offices in San Antonio, Texas, and other key locations.
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Huntington Bank
Average Salary: $145,824
Huntington Bank provides attractive compensation for Credit Analysts. They serve customers in the Midwest and East Coast. Huntington Bank has branches in states like Ohio, Indiana, and Michigan.
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Wells Fargo
Average Salary: $136,819
Wells Fargo offers a strong salary for Credit Analysts. They are a leading financial institution with a nationwide presence. Wells Fargo operates in many states, including California, New York, and Texas.
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Fitch Ratings
Average Salary: $121,875
Fitch Ratings provides a competitive salary for Credit Analysts. They specialize in credit rating and analysis. Fitch Ratings has offices in major cities like New York, London, and Hong Kong.
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Santander
Average Salary: $109,683
Santander offers a good salary for Credit Analysts. They are a global financial services company. Santander operates in countries like Spain, the UK, and the United States.
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U.S. Bank
Average Salary: $108,559
U.S. Bank provides competitive pay for Credit Analysts. They serve customers across the United States. U.S. Bank has branches in states like Minnesota, Oregon, and California.
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Citi
Average Salary: $106,059
Citi offers a solid salary for Credit Analysts. They are a global bank with a presence in many countries. Citi operates in major financial hubs like New York, London, and Hong Kong.
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Fifth Third Bank
Average Salary: $96,181
Fifth Third Bank provides a fair salary for Credit Analysts. They serve customers in the Midwest and Southeast. Fifth Third Bank has branches in states like Ohio, Florida, and Michigan.
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The Provident Bank of New Jersey
Average Salary: $95,688
The Provident Bank of New Jersey offers a competitive salary for Credit Analysts. They focus on serving customers in New Jersey. The Provident Bank has branches throughout the state.
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AgWest Farm Credit
Average Salary: $87,604
AgWest Farm Credit provides a good salary for Credit Analysts. They specialize in agricultural lending. AgWest Farm Credit operates in states like California, Arizona, and Texas.
How to earn more as a Credit Analyst?
A Credit Analyst plays a key role in assessing the financial health of individuals and businesses. This role is crucial for helping companies make informed decisions about lending money. To earn more in this field, consider these factors that can boost your salary and career prospects.
First, gaining relevant certifications can significantly enhance your earning potential. Certifications such as the Certified Credit Expert (CCE) or the Financial Risk Manager (FRM) are highly valued. These credentials demonstrate your expertise and commitment to the profession. Second, accumulating more experience in the field can lead to higher-paying positions. Experienced analysts often have a deeper understanding of the industry and can handle more complex tasks. Third, specializing in a niche area, such as commercial lending or consumer credit, can make you more attractive to employers. Specialization allows you to become an expert in a specific field, which can command higher salaries. Fourth, improving your analytical skills can also increase your value. Strong analytical skills enable you to make more accurate assessments and recommendations. Finally, networking within the industry can open up opportunities for higher-paying jobs. Attending industry conferences and joining professional organizations can help you connect with potential employers and colleagues.
By focusing on these factors, a Credit Analyst can enhance their skills and increase their earning potential. Certifications, experience, specialization, analytical skills, and networking all play important roles in achieving higher salary levels.
- Gain relevant certifications
- Accumulate more experience
- Specialize in a niche area
- Improve analytical skills
- Network within the industry



