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The differences between credit administrators and credit managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a credit administrator, becoming a credit manager takes usually requires 6-8 years. Additionally, a credit manager has an average salary of $68,583, which is higher than the $59,271 average annual salary of a credit administrator.
The top three skills for a credit administrator include financial statements, credit card payments and real estate. The most important skills for a credit manager are customer service, financial statements, and credit card.
| Credit Administrator | Credit Manager | |
| Yearly salary | $59,271 | $68,583 |
| Hourly rate | $28.50 | $32.97 |
| Growth rate | -8% | 17% |
| Number of jobs | 55,726 | 63,898 |
| Job satisfaction | 2 | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 67% |
| Average age | 39 | 46 |
| Years of experience | 2 | 8 |
A credit administrator oversees the credit operations in a company, ensuring efficiency and client satisfaction. They typically conduct research and analysis, handle credit portfolios, perform credit risk assessments, monitor credit accounts, validate requirements, evaluate applications, and develop strategies to optimize operations. A credit administrator may also perform a variety of clerical tasks such as preparing and processing documents, answering calls and correspondence, organizing information, and maintaining records. Moreover, they must lead and encourage staff to reach goals, all while enforcing and promoting the company's policies and regulations.
A credit manager is an individual who supervises the credit granting process for a company by evaluating the creditworthiness of potential customers. Credit managers must maintain corporate credit policy to optimize company sales and reduce bad debt losses. They must manage the proper relationship with agencies such as the collection agency, credit insurance providers, and the sales department. Credit managers may work in different industries such as banks, accounting firms, or auto dealerships. They must also possess a bachelor's degree in financial management or related field.
Credit administrators and credit managers have different pay scales, as shown below.
| Credit Administrator | Credit Manager | |
| Average salary | $59,271 | $68,583 |
| Salary range | Between $33,000 And $106,000 | Between $39,000 And $119,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Oregon |
| Best paying company | BNY Mellon | Microsoft |
| Best paying industry | - | Finance |
There are a few differences between a credit administrator and a credit manager in terms of educational background:
| Credit Administrator | Credit Manager | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit administrators' and credit managers' demographics:
| Credit Administrator | Credit Manager | |
| Average age | 39 | 46 |
| Gender ratio | Male, 28.4% Female, 71.6% | Male, 53.9% Female, 46.1% |
| Race ratio | Black or African American, 8.1% Unknown, 2.7% Hispanic or Latino, 10.0% Asian, 9.4% White, 69.5% American Indian and Alaska Native, 0.3% | Black or African American, 7.9% Unknown, 4.1% Hispanic or Latino, 15.3% Asian, 7.8% White, 64.5% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |