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Credit Analyst

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The following article discusses the career of Credit Analyst highlighting what they do, the work environment, how to become, training and certification, education, job and salary outlook.

What We Do

Credit analysts make sure that all accounts are in good standing. They also determine the terms and conditions that have to be met in order for credit requests to be approved, in part by assessing credit risks. Furthermore, they monitor data in relation to credit and risk in order to make sure the organization they work for can make appropriate decisions.

Work Environment

As a credit analyst, you will usually work within an office environment. You can work in a variety of places such as investment management groups, credit unions, major banks, and the U.S. Department of State. Generally speaking, standard office hours are maintained, although some overtime work may be required as well.

How to Become

To be a credit analyst, you must have a passion for numbers as most of your work will involve looking through numerical figures all day.

Training & Certification Requirements

A minimum requirement of a bachelor’s degree is in place. Relevant subject fields include business, mathematics, accounting and economics.

Education Requirements

Bachelor’s

Job Outlook

According to the U.S. Bureau of Labor Statistics, the projected growth in demand for Financial analysts is 12% between 2014 and 2024, which is faster than the national average.

National Salary

The national average salary estimate for Credit Analyst was $57,707. This number is estimated from over 6,252 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $30.06 and monthly of $4,809.

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$14,000

$142,000

Salary Distribution

Salary by State

The following section lists Credit Analyst salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, New York had the largest quoted salary of $92,499 while Ohio had the smallest quoted salary of $32,352.

Alaska – $45,000Rank: 49th

The average salary ranks 49th among states in the country. There were no current job openings from employers in this state.

Alabama – $46,407 (▼20% Below national average)Rank: 12th

The average salary ranks 12th among states in the country. There were also job openings from employers like Advanced Credit Help, Vaco, LLC, Robert Half Finance & Accounting, and Personnel Resources.

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$17,000

$90,000

Salary Distribution
Arkansas – $43,238 (▼25% Below national average)Rank: 13th

The average salary ranks 13th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting and Accountemps.

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$21,000

$72,000

Salary Distribution
Arizona – $41,088 (▲7% Above national average)Rank: 45th

The average salary ranks 45th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Accounting Principals, Bank Of America, and American Express.

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$7.90

$41.35

Salary Distribution
California – $60,350 (●Meets national average)Rank: 7th

The average salary ranks 7th among states in the country. There were also job openings from employers like Selby Jennings, NBN, Inc., Stone & Associates, and TriStaff Group.

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$18,000

$127,000

Salary Distribution
Colorado – $37,324 (●Meets national average)Rank: 35th

The average salary ranks 35th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Volt, Randstad, and Accountemps.

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$9.80

$32.30

Salary Distribution
Connecticut – $61,385 (▲6% Above national average)Rank: 4th

The average salary ranks 4th among states in the country. There were also job openings from employers like UBS, Susan Laufer Personnel, Robert Half Finance & Accounting, and Aerotek.

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$16,000

$134,000

Salary Distribution
DC – $80,688 (▲40% Above national average)Rank: 1st

The average salary ranks 1st among states in the country. There were also job openings from employers like Robert Half Finance & Accounting and Accounting Career Network.

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$36,000

$142,000

Salary Distribution
Delaware – $40,462 (▼30% Below national average)Rank: 36th

The average salary ranks 36th among states in the country. There were also job openings from employers like JPMorgan Chase, Chase Bank, Robert Half Finance & Accounting, and Discover Financial Services.

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$14,000

$80,000

Salary Distribution
Florida – $49,202 (▼15% Below national average)Rank: 28th

The average salary ranks 28th among states in the country. There were also job openings from employers like Park Avenue Group, Ascendo Resources, Nason & Nason, and Robert Half Finance & Accounting.

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$14,000

$110,000

Salary Distribution
Georgia – $36,576 (●Meets national average)Rank: 5th

The average salary ranks 5th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Symicor Group, Hughes Telematics, Inc, and DSS Staffing, Inc.

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$9.25

$32.25

Salary Distribution
Hawaii – $60,660 (●Meets national average)Rank: 52nd

The average salary ranks 52nd among states in the country. There were also job openings from employers like Guaranteed Credit and Robert Half Finance & Accounting.

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$30,000

$92,000

Salary Distribution
Iowa – $60,527 (●Meets national average)Rank: 17th

The average salary ranks 17th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Management Recruiters of Wausau, Volt, and Palmer Group.

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$23,000

$114,000

Salary Distribution
Idaho – $46,083 (▼20% Below national average)Rank: 51st

The average salary ranks 51st among states in the country. There were also job openings from employers like Boise Bank and Accountemps.

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$23,000

$70,000

Salary Distribution
Illinois – $55,679 (●Meets national average)Rank: 6th

The average salary ranks 6th among states in the country. There were also job openings from employers like Smith Hanley Associates, LLC, HSBC, Software Solutions Inc, and Kforce Finance and Accounting.

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$14,000

$131,000

Salary Distribution
Indiana – $46,350 (▼20% Below national average)Rank: 21st

The average salary ranks 21st among states in the country. There were also job openings from employers like SNI Financial, Robert Half Finance & Accounting, Accounting Principals, and Vaco, LLC.

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$18,000

$87,000

Salary Distribution
Kansas – $51,353 (▼11% Below national average)Rank: 31st

The average salary ranks 31st among states in the country. There were also job openings from employers like Accounting Career Network, Management Recruiters of Wausau, and Accountemps.

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$16,000

$105,000

Salary Distribution
Kentucky – $45,277 (▼22% Below national average)Rank: 41st

The average salary ranks 41st among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Vaco, LLC, Accounting Principals, and Accountemps.

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$20,000

$79,000

Salary Distribution
Louisiana – $55,000Rank: 33rd

The average salary ranks 33rd among states in the country. There were no current job openings from employers in this state.

Massachusetts – $70,625 (▲22% Above national average)Rank: 2nd

The average salary ranks 2nd among states in the country. There were also job openings from employers like State Street, Huxley Associates, Stewart Recruitment Group, and Robert Half Finance & Accounting.

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$23,000

$144,000

Salary Distribution
Maryland – $50,771 (▼12% Below national average)Rank: 10th

The average salary ranks 10th among states in the country. There were also job openings from employers like Bill Me Later, Inc., Robert Half Finance & Accounting, Stephen James Associates, Inc., and Ivy Mortgage, Inc..

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$14,000

$130,000

Salary Distribution
Maine – $34,425 (▼10% Below national average)Rank: 37th

The average salary ranks 37th among states in the country. There were also job openings from employers like Accountemps, Kforce, and Career Management.

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$7.25

$37.80

Salary Distribution
Michigan – $45,491 (▼21% Below national average)Rank: 14th

The average salary ranks 14th among states in the country. There were also job openings from employers like TD Auto Finance, Robert Half Finance & Accounting, Aerotek, and CyberCoders.

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$18,000

$85,000

Salary Distribution
Minnesota – $58,482 (●Meets national average)Rank: 38th

The average salary ranks 38th among states in the country. There were also job openings from employers like Management Recruiters of Wausau, Wells Fargo, Robert Half Finance & Accounting, and Accounting Career Network.

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$26,000

$103,000

Salary Distribution
Missouri – $49,773 (▼14% Below national average)Rank: 18th

The average salary ranks 18th among states in the country. There were also job openings from employers like Accounting Career Network, gpac, Management Recruiters of Wausau, and Robert Half Finance & Accounting.

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$14,000

$107,000

Salary Distribution
Mississippi – $64,000Rank: 9th

The average salary ranks 9th among states in the country. There were no current job openings from employers in this state.

Montana – $39,491 (▼32% Below national average)Rank: 43rd

The average salary ranks 43rd among states in the country. There were also job openings from employers like First Interstate Bank.

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$19,000

$60,000

Salary Distribution
North Carolina – $47,096 (▼18% Below national average)Rank: 26th

The average salary ranks 26th among states in the country. There were also job openings from employers like Wells Fargo, Robert Half Finance & Accounting, American Express, and Accounting Principals.

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$15,000

$96,000

Salary Distribution
North Dakota – $54,000Rank: 39th

The average salary ranks 39th among states in the country. There were no current job openings from employers in this state.

Nebraska – $71,702 (▲24% Above national average)Rank: 50th

The average salary ranks 50th among states in the country. There were also job openings from employers like Farm Credit Services of America, ACA, Management Recruiters of Wausau, and Accountemps.

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$15,000

$171,000

Salary Distribution
New Hampshire – $36,326 (●Meets national average)Rank: 19th

The average salary ranks 19th among states in the country. There were also job openings from employers like Accountemps.

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$9.55

$29.35

Salary Distribution
New Jersey – $57,388 (●Meets national average)Rank: 8th

The average salary ranks 8th among states in the country. There were also job openings from employers like Kforce Finance and Accounting, Confidential-Wall,NJ, Confidential-Wall, NJ, and Parker and Lynch.

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$21,000

$111,000

Salary Distribution
New Mexico – $40,185 (●Meets national average)Rank: 42nd

The average salary ranks 42nd among states in the country. There were also job openings from employers like Sabio Systems.

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$7.25

$41.90

Salary Distribution
Nevada – $36,749 (▼36% Below national average)Rank: 47th

The average salary ranks 47th among states in the country. There were also job openings from employers like Barclaycard.

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$15,000

$68,000

Salary Distribution
New York – $92,499 (▲60% Above national average)Rank: 3rd

The average salary ranks 3rd among states in the country. There were also job openings from employers like HSBC, RemX Specialty Staffing, StreetID, and EBSGroup.

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$18,000

$223,000

Salary Distribution
Ohio – $32,352 (▼16% Below national average)Rank: 22nd

The average salary ranks 22nd among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, KOROSEAL, TriMark SS Kemp, and Robert Half Management Resources.

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$7.25

$32.05

Salary Distribution
Oklahoma – $53,016 (▼8% Below national average)Rank: 29th

The average salary ranks 29th among states in the country. There were also job openings from employers like Priority Staffcorp, Robert Half Finance & Accounting, Parker and Lynch, and Accounting Principals.

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$22,000

$97,000

Salary Distribution
Oregon – $36,384 (●Meets national average)Rank: 23rd

The average salary ranks 23rd among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Creative Financial Staffing, CU Business Group, and Oregon Community Credit Union.

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$8.00

$34.40

Salary Distribution
Pennsylvania – $54,252 (▼6% Below national average)Rank: 24th

The average salary ranks 24th among states in the country. There were also job openings from employers like firstPRO Inc., Contemporary Staffing Solutions, Robert Half Finance & Accounting, and PeopleShare.

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$16,000

$114,000

Salary Distribution
Rhode Island – $32,371 (▼15% Below national average)Rank: 32nd

The average salary ranks 32nd among states in the country. There were also job openings from employers like Aerospace.

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$8.50

$25.60

Salary Distribution
South Carolina – $47,493 (▼18% Below national average)Rank: 20th

The average salary ranks 20th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Volt, AppleOne, and Aerotek.

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$19,000

$89,000

Salary Distribution
South Dakota – $50,872 (▼12% Below national average)Rank: 48th

The average salary ranks 48th among states in the country. There were also job openings from employers like Management Recruiters of Wausau and Accountemps.

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$19,000

$98,000

Salary Distribution
Tennessee – $49,011 (▼15% Below national average)Rank: 30th

The average salary ranks 30th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting and Accountemps.

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$14,000

$128,000

Salary Distribution
Texas – $52,774 (▼9% Below national average)Rank: 25th

The average salary ranks 25th among states in the country. There were also job openings from employers like Santander Consumer USA Inc, Rowland Group, The, AppleOne, and Robert Half Finance & Accounting.

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$19,000

$104,000

Salary Distribution
Utah – $47,778 (▼17% Below national average)Rank: 46th

The average salary ranks 46th among states in the country. There were also job openings from employers like AppleOne, CyberCoders, Aerotek, and PrincePerelson & Associates.

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$14,000

$108,000

Salary Distribution
Virginia – $59,168 (●Meets national average)Rank: 15th

The average salary ranks 15th among states in the country. There were also job openings from employers like AgentHR Group, CyberCoders, Accounting Career Network, and VIRGINIA HOUSING DEVELOPMENT, VIRGINIA HOUSING.

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$18,000

$124,000

Salary Distribution
Vermont – $54,000Rank: 40th

The average salary ranks 40th among states in the country. There were no current job openings from employers in this state.

Washington – $53,953 (▼7% Below national average)Rank: 11th

The average salary ranks 11th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, AppleOne, and Accountemps.

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$14,000

$144,000

Salary Distribution
Wisconsin – $50,585 (▼12% Below national average)Rank: 34th

The average salary ranks 34th among states in the country. There were also job openings from employers like Management Recruiters of Wausau, Flex-Staff, Inc., Parker and Lynch, and Johnson Controls.

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$23,000

$89,000

Salary Distribution
West Virginia – $58,000Rank: 27th

The average salary ranks 27th among states in the country. There were no current job openings from employers in this state.

Wyoming – $51,000Rank: 44th

The average salary ranks 44th among states in the country. There were no current job openings from employers in this state.

Top 20 National Employers

According to Indeed.com, the following states had employers looking to hire a Credit Analyst. The quoted salary figure represents the average salary from all job postings by this employer.

Employer NameLocationAverage Salary
Barclays$98,994
State StreetMassachusetts$96,535
HSBC$94,144
Goldman Sachs$92,806
Smith Hanley Associates, LLCIllinois$92,497
Robert Half Finance & AccountingDC$91,682
Bill Me Later, Inc.Maryland$91,562
Farm Credit Services of America, ACANebraska$91,541
Selby JenningsCalifornia$91,529
HSBCIllinois$85,049
Huxley AssociatesMassachusetts$84,178
AppleOneUtah$83,498
UBSConnecticut$81,191
Robert Half Finance & AccountingMaryland$80,820
UBS$80,632
Guaranteed CreditHawaii$800
NBN, Inc.California$77,929
firstPRO Inc.Pennsylvania$76,040
AgentHR GroupVirginia$75,843
Accounting Career NetworkDC$75,597

References

*Indicates number of job postings as of June, 2017.

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