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What is a credit analyst and how to become one

Updated January 8, 2025
4 min read
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A credit analyst assesses the credit-worthiness of individuals or organizations applying for loans or credit. They analyze financial data and credit histories to determine the likelihood of repayment and the potential risks. Credit analysts also make recommendations on interest rates, loan terms, and credit limits. They work in various industries, including banking, investment firms, and credit bureaus. Essential skills include analytical skills, attention to detail, and knowledge of financial regulations.

ScoreCredit AnalystUS Average
Salary
4.8

Avg. Salary $61,422

Avg. Salary $59,228

Stability Level
6.0

Growth Rate -5%

Growth Rate 0.3%

Diversity
5.6
Race

American Indian and Alaska Native 0.27%

Asian 10.50%

Black or African American 7.73%

Hispanic or Latino 9.49%

Unknown 2.64%

White 69.35%

Gender

female 55.76%

male 44.24%

Age - 38
Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 38
Stress Level
6.0

Stress level is manageable

7.1 - high

Complexity Level
8.0

Complexity Level is challenging

7 - challenging

Work Life Balance
6.4

Work Life balance is fair

6.4 - fair

What are the pros and cons of being a Credit Analyst?

Pros

  • Good salary and benefits

  • Exposure to various industries and businesses

  • High demand for credit analysts in many industries

  • Potential for bonuses based on performance

  • Ability to work in a stable industry

Cons

  • Long hours, including weekends and evenings

  • Dealing with difficult customers or clients

  • Risk of burnout due to heavy workload and high expectations

  • May have to make tough decisions that can affect people's lives and livelihoods negatively

  • Limited opportunities for creativity or innovation in the role.

Credit Analyst career paths

Key steps to become a credit analyst

  1. Explore credit analyst education requirements

    Most common credit analyst degrees

    Bachelor's

    65.1 %

    Associate

    13.8 %

    Master's

    9.4 %
  2. Start to develop specific credit analyst skills

    SkillsPercentages
    Customer Service12.36%
    Credit Analysis7.36%
    Customer Accounts4.49%
    Real Estate4.34%
    Credit Risk4.23%
  3. Complete relevant credit analyst training and internships

    Accountants spend an average of 1-3 months on post-employment, on-the-job training. New credit analysts learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a credit analyst based on U.S. Bureau of Labor Statistics data and data from real credit analyst resumes.
  4. Research credit analyst duties and responsibilities

    • Provide treasury with funding requirements to maximize LIBOR rate advantage.
    • Manage a team to help facilitate efficient loan origination, underwriting and closing.
    • Lead a presentation to the FHA quantitative team by using multiple data visualization techniques.
    • Manage A/R transactions, prepare weekly account reconciliation's, perform research/ adjustments on A/P and A/R discrepancy accounts.
  5. Prepare your credit analyst resume

    When your background is strong enough, you can start writing your credit analyst resume.

    You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a credit analyst resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

    Choose From 10+ Customizable Credit Analyst Resume templates

    Build a professional Credit Analyst resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your Credit Analyst resume.
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    Credit Analyst Resume
    Credit Analyst Resume
    Credit Analyst Resume
  6. Apply for credit analyst jobs

    Now it's time to start searching for a credit analyst job. Consider the tips below for a successful job search:

    1. Browse job boards for relevant postings
    2. Consult your professional network
    3. Reach out to companies you're interested in working for directly
    4. Watch out for job scams

How Did You Land Your First Credit Analyst Job

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Average credit analyst salary

The average Credit Analyst salary in the United States is $61,422 per year or $30 per hour. Credit analyst salaries range between $40,000 and $93,000 per year.

Average Credit Analyst Salary
$61,422 Yearly
$29.53 hourly

What Am I Worth?

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How do credit analysts rate their job?

-/5

5 Stars

4 Stars

3 Stars

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1 Star

Credit Analyst reviews

profile
A zippia user wrote a review on Oct 2019
Cons

Interacting with computer for too long in making decisions in mitigating the risk asset going bad 'bad loan'


profile
A zippia user wrote a review on May 2019
Pros

The job is self motivating and result oriented .

Cons

Its very demanding where by you have to closely monitor the portfolio every time and now to be able to report the right information .


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Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

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