How much does a Credit Analyst make?
A Credit Analyst examines the credit risk of individuals and businesses. This role requires careful study of financial documents and history. Credit Analysts often work in banks, insurance companies, and financial firms. Their goal is to help decide who gets loans or credit. Knowing how much they earn can help job seekers understand the value of this role.
Credit Analysts earn a good income. The average yearly salary stands at $79,650. This figure helps people understand what to expect if they choose this career path. The salary can vary based on experience and location. Those new to the field might start lower, while experienced analysts earn more. Some areas of the country offer higher salaries than others.
To break it down further, here's how salaries are distributed:
- 11.54% earn up to $40,000
- 22.39% earn between $40,000 and $52,273
- 20.37% earn between $52,273 and $64,545
- 12.15% earn between $64,545 and $76,818
- 9.94% earn between $76,818 and $89,091
- 6.40% earn between $89,091 and $101,364
- 4.23% earn between $101,364 and $113,636
- 3.92% earn between $113,636 and $125,909
- 1.45% earn between $125,909 and $138,182
- 1.48% earn between $138,182 and $150,455
- 1.14% earn $150,455 and above
What are the highest paying cities for a Credit Analyst?
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Omaha, NE
Average Salary: $1,867,028
Omaha offers a strong financial sector with many local banks. Working here means assessing credit risks and analyzing financial statements. Key employers include Berkshire Hathaway and Mutual of Omaha.
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San Antonio, TX
Average Salary: $134,676
San Antonio's diverse economy includes banks and finance firms. Here, professionals evaluate credit applications and manage loan portfolios. Noteworthy employers are Wells Fargo and Bank of America.
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Baltimore, MD
Average Salary: $116,346
Baltimore has a growing finance sector. Analysts here assess the creditworthiness of clients. Major employers include Legg Mason and T. Rowe Price.
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Washington, DC
Average Salary: $113,898
Washington, DC, is a hub for finance. Analysts work closely with government and private institutions. Prominent employers include Freddie Mac and Capital One.
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San Francisco, CA
Average Salary: $108,184
San Francisco boasts a tech-driven finance industry. Analysts here analyze financial data for tech firms. Notable employers are Goldman Sachs and Visa.
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Portland, OR
Average Salary: $107,010
Portland has a vibrant finance scene with many local banks. Professionals analyze credit applications and manage loan documents. Key employers include U.S. Bank and Columbia Bank.
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Boston, MA
Average Salary: $106,579
Boston offers a rich finance sector with prominent banks. Analysts assess credit risks and manage loan portfolios. Major employers are State Street Corporation and TD Bank.
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Minneapolis, MN
Average Salary: $105,890
Minneapolis has a strong finance sector. Analysts here evaluate credit risks and manage loan portfolios. Key employers are U.S. Bank and Fidelity Investments.
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Knoxville, TN
Average Salary: $104,126
Knoxville has a growing finance sector. Analysts assess credit applications and manage loan documents. Notable employers include First Tennessee Bank and SunTrust.
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Charlotte, NC
Average Salary: $102,889
Charlotte is a finance hub with many banks. Analysts evaluate credit risks and manage loan portfolios. Key employers are Bank of America and Wells Fargo.
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What are the best companies a Credit Analyst can work for?
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Intuit
Average Salary: $193,803
Intuit, based in Mountain View, California, offers Credit Analyst roles with a focus on leveraging technology for financial insights. Candidates work in various locations across the United States, including offices in Colorado, Massachusetts, and Texas.
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USAA
Average Salary: $150,661
USAA, a leader in financial services for military members and their families, provides Credit Analyst positions in San Antonio, Texas, and other select locations. This company values expertise in credit analysis and a commitment to customer service.
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Wells Fargo
Average Salary: $141,250
Wells Fargo, with headquarters in San Francisco, California, and a presence nationwide, offers Credit Analyst jobs. Employees contribute to the company's mission to meet financial needs and understand credit risk.
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Huntington Bank
Average Salary: $129,387
Huntington Bank, founded in 1866, offers Credit Analyst roles in several states, including Ohio, Indiana, and Michigan. Analysts at Huntington focus on credit risk assessment to support the bank's clients.
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Fitch Ratings
Average Salary: $125,685
Fitch Ratings, based in New York City, provides Credit Analyst positions with a focus on assessing credit risk for various industries. Employees work in multiple locations across the United States.
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Liberty Mutual Insurance
Average Salary: $119,731
Liberty Mutual Insurance, headquartered in Boston, Massachusetts, offers Credit Analyst roles that involve analyzing credit data to support the insurance industry. Positions are available in several states.
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Morgan Stanley
Average Salary: $112,045
Morgan Stanley, a global financial services firm with offices worldwide, offers Credit Analyst jobs. Roles focus on assessing credit risk and supporting investment banking. Employees work in locations such as New York, London, and Hong Kong.
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U.S. Bank
Average Salary: $109,947
U.S. Bank, with a strong presence in the Midwest, offers Credit Analyst positions in locations across the United States. Analysts support clients by managing credit risk and analyzing credit data.
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Citi
Average Salary: $107,316
Citi, a global financial services company, offers Credit Analyst roles in various locations including New York, London, and Singapore. Employees focus on assessing credit risk and providing financial services.
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FCS Financial
Average Salary: $99,705
FCS Financial, a leading provider of financial services, offers Credit Analyst jobs in locations across the United States. Analysts work on assessing credit risk and supporting clients' financial needs.
How to earn more as a Credit Analyst?
Becoming a Credit Analyst can lead to a rewarding career. To earn more in this field, focus on these key areas. Building a strong foundation in financial analysis skills can help increase earning potential. Experience with credit risk assessment and financial modeling will make a candidate more valuable. Networking with industry professionals can open doors to higher-paying opportunities. Continuing education in finance and credit analysis will keep skills sharp and knowledge current. A strong performance record and positive reviews will boost chances of salary increases and promotions.
Credit Analysts can earn more by focusing on several important factors. They can start by gaining certifications such as the Certified Credit Professional (CCP). These credentials show a commitment to the profession and can lead to higher salaries. Specializing in a particular industry, such as healthcare or real estate, can make a candidate more attractive to employers. Staying updated with the latest financial trends and regulations will keep skills relevant. Finally, seeking roles in larger financial institutions or those with a global presence often means higher pay scales.
Here are five factors that can help Credit Analysts earn more:
- Obtain relevant certifications
- Specialize in a specific industry
- Stay updated with financial trends
- Seek roles in larger institutions
- Maintain a strong performance record
