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The differences between assistant credit managers and credit officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become an assistant credit manager, becoming a credit officer takes usually requires 1-2 years. Additionally, a credit officer has an average salary of $129,478, which is higher than the $58,664 average annual salary of an assistant credit manager.
The top three skills for an assistant credit manager include financial statements, credit limits and past due accounts. The most important skills for a credit officer are risk management, credit risk, and credit analysis.
| Assistant Credit Manager | Credit Officer | |
| Yearly salary | $58,664 | $129,478 |
| Hourly rate | $28.20 | $62.25 |
| Growth rate | 17% | 17% |
| Number of jobs | 40,924 | 60,323 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 69% |
| Average age | 46 | 39 |
| Years of experience | 8 | 2 |
An assistant credit manager performs support tasks to assist credit managers in handling credit accounts and procedures. Among their usual responsibilities include managing credit applications, verifying information and requirements, and evaluating the applicants' credit scores and financial records to ensure their ability to uphold financial obligations. Moreover, they also perform clerical tasks such as preparing and processing documents, handling calls and correspondence, organizing files, liaising with clients, answering inquiries, and resolving issues and concerns should any arise. In the absence of the manager, they have the responsibility to oversee staff and monitor operations to ensure an efficient workflow.
A credit officer is responsible for evaluating financial documents and account statements to determine the eligibility of an applicant for a loan option. Credit officers communicate with the applicant to discuss the loan process, explain the terms of service, and provide them alternative options that would fit their payment ability and loan needs. They create financial reports and recommend the qualified applicant to the manager for approval. A credit officer should have excellent communication and analytical skills, ensuring that the loan policies adhere to the federal and state regulations.
Assistant credit managers and credit officers have different pay scales, as shown below.
| Assistant Credit Manager | Credit Officer | |
| Average salary | $58,664 | $129,478 |
| Salary range | Between $30,000 And $113,000 | Between $85,000 And $196,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | Farm Credit System |
| Best paying industry | - | Finance |
There are a few differences between an assistant credit manager and a credit officer in terms of educational background:
| Assistant Credit Manager | Credit Officer | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between assistant credit managers' and credit officers' demographics:
| Assistant Credit Manager | Credit Officer | |
| Average age | 46 | 39 |
| Gender ratio | Male, 44.4% Female, 55.6% | Male, 64.4% Female, 35.6% |
| Race ratio | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.2% White, 64.6% American Indian and Alaska Native, 0.3% | Black or African American, 8.0% Unknown, 2.7% Hispanic or Latino, 9.7% Asian, 10.7% White, 68.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |