Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between commercial credit analysts and senior credit analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a commercial credit analyst and a senior credit analyst. Additionally, a senior credit analyst has an average salary of $86,364, which is higher than the $66,482 average annual salary of a commercial credit analyst.
The top three skills for a commercial credit analyst include credit analysis, customer service and strong analytical. The most important skills for a senior credit analyst are credit analysis, customer service, and real estate.
| Commercial Credit Analyst | Senior Credit Analyst | |
| Yearly salary | $66,482 | $86,364 |
| Hourly rate | $31.96 | $41.52 |
| Growth rate | 4% | 17% |
| Number of jobs | 42,862 | 15,221 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 71% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
A commercial credit analyst is primarily in charge of assessing a client's credit or loan application, ensuring that they are fit to uphold financial obligations. Their responsibilities typically revolve around coordinating different departments to gather necessary client data, reviewing financial histories, verifying the authenticity of requirements, and developing financial profiles. Moreover, a commercial credit analyst may perform research and analysis to identify new business opportunities, produce progress and sales reports, monitor the payment progress of clients, and maintain a record of all transactions.
A senior credit analyst is responsible for reviewing the loan applications of an individual and organization, determining their eligibility by evaluating their credit scores and financial history. Senior credit analysts assess the applicant's capability to pay according to terms and conditions and loan payment plans. They submit recommendation reports of qualified applicants for further investigation and have them submit additional documents as needed. A senior credit analyst decides on credit limits and may provide the applicants' loan and credit alternatives, requiring them to have excellent knowledge of the financial industry and loan options.
Commercial credit analysts and senior credit analysts have different pay scales, as shown below.
| Commercial Credit Analyst | Senior Credit Analyst | |
| Average salary | $66,482 | $86,364 |
| Salary range | Between $46,000 And $94,000 | Between $59,000 And $125,000 |
| Highest paying City | Burlingame, CA | White Plains, NY |
| Highest paying state | California | New York |
| Best paying company | HSBC Bank | Apple |
| Best paying industry | Automotive | Finance |
There are a few differences between a commercial credit analyst and a senior credit analyst in terms of educational background:
| Commercial Credit Analyst | Senior Credit Analyst | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial credit analysts' and senior credit analysts' demographics:
| Commercial Credit Analyst | Senior Credit Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 61.6% Female, 38.4% | Male, 54.6% Female, 45.4% |
| Race ratio | Black or African American, 7.9% Unknown, 2.7% Hispanic or Latino, 9.6% Asian, 10.5% White, 69.0% American Indian and Alaska Native, 0.3% | Black or African American, 8.3% Unknown, 2.7% Hispanic or Latino, 9.9% Asian, 10.0% White, 68.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |