How to hire a credit analyst

How to hire a credit analyst, step by step

Here's a step-by-step credit analyst hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a credit analyst job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new credit analyst
• Step 8: Go through the hiring process checklist

What does a credit analyst do?

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1. Identify your hiring needs

   The credit analyst hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   Hiring the perfect credit analyst also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.

   This list shows salaries for various types of credit analysts.

   Type of Credit Analyst	Description	Hourly rate
   Credit Analyst	The key role of a Credit Analyst consists of assessing the credit-worthiness of existing or prospective clients. They analyze financial records like the earnings, savings, payments, and purchases of companies or individuals, as well as analyze their liquidity, profitability, and credit histories.	$19-44
   Accounts Receivable Analyst	An Accounts Receivable Analyst provides accounts receivable support through monitoring all aspects of the collection of outstanding debts owed to a company. They check missing and unresolved payment issues, monitor overdue accounts, and prepare statements for managers.	$15-27
   Credit Officer	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... Show more	$40-94

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Credit Analysis
   • Customer Accounts
   • Real Estate
   • Credit Risk
   • Strong Analytical
   • Credit Worthiness
   • Loan Portfolio
   • Cash Flow
   • Credit Limits
   • Risk Analysis
   • Credit Decisions
   • Excellent Interpersonal
   • Financial Statement Analysis

   Check all skills

   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.
   • Utilize data manipulation and quantitative analysis using VBA macros, SQL and advance excel knowledge to manage credit risk exposure.
   • Manage accounting operations, accounting close, account reporting and reconciliations.

   More credit analyst duties

3. Make a budget

   Including a salary range in your credit analyst job description helps attract top candidates to the position. A credit analyst salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

   For example, the average salary for a credit analyst in Arkansas may be lower than in New York, and an entry-level credit analyst usually earns less than a senior-level credit analyst. Additionally, a credit analyst with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

   Average credit analyst salary

   $61,422yearly

   $29.53 hourly rate

   ---

   Entry-level credit analyst salary

   $40,000 yearly salary

   Updated December 30, 2025

   Average credit analyst salary by state

   Rank	State	Avg. salary	Hourly rate
   1	New York	$101,682	$49
   2	District of Columbia	$77,123	$37
   3	Delaware	$76,456	$37
   4	Massachusetts	$75,899	$36
   5	Connecticut	$75,291	$36
   6	Pennsylvania	$69,849	$34
   7	Virginia	$69,634	$33
   8	California	$69,324	$33
   9	Maryland	$69,166	$33
   10	North Carolina	$64,974	$31
   11	Maine	$63,346	$30
   12	Minnesota	$63,261	$30
   13	Nevada	$61,645	$30
   14	Washington	$61,288	$29
   15	Oregon	$60,121	$29
   16	Illinois	$60,050	$29
   17	Ohio	$59,877	$29
   18	Colorado	$57,834	$28
   19	Wisconsin	$57,311	$28
   20	Florida	$56,612	$27

   Average credit analyst salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Apollo Global Management	$126,470	$60.80
   2	Google	$122,871	$59.07	5
   3	Oak Hill Advisors	$122,652	$58.97
   4	Pacific Investment Management Company LLC	$117,477	$56.48	1
   5	Cadence Design Systems	$116,391	$55.96
   6	PayPal	$115,763	$55.66	1
   7	Moody's	$112,668	$54.17
   8	First Republic Bank	$110,683	$53.21
   9	PBF Energy	$107,697	$51.78
   10	Standard Chartered	$106,638	$51.27	15
   11	Barclays	$106,475	$51.19	2
   12	Western Alliance Bank	$106,374	$51.14	19
   13	Silicon Valley Bank	$106,131	$51.02
   14	Credit Suisse	$106,032	$50.98
   15	CIBC World Markets	$105,611	$50.77
   16	Jefferies	$104,455	$50.22	1
   17	Deutsche Bank	$104,333	$50.16	14
   18	Goldman Sachs	$104,305	$50.15	5
   19	UBS	$104,172	$50.08	12
   20	Bunge	$103,961	$49.98	1

4. Writing a credit analyst job description

   A credit analyst job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a credit analyst job description:

   Credit analyst job description example

   Preferred Location: Wilmington - DE, Baltimore - MD, New York - NY, Charlotte, NC
   
   The Role
   
   We are looking for a Lead Credit Strategy Analyst for our Credit Analytics. This is an exciting opportunity to learn and drive significant business results through optimizing our credit risk underwriting and pricing strategies. These strategies include, but not limited to, approval/decline, loan amount assignment, term, pricing, and risk appetite framework optimization to drive healthy revenue growth, loss mitigation, and streamlining of processes in support of better profitability and healthy lending portfolio.
   
   We are looking for new team members who are excited about creating, designing, and implementing new and better solutions to our business challenges with limited supervision. This role will have chance to pull the data, conduct deep analysis and investigation, apply critical thinking skills, draw insights from their work and leverage general business acumen to understand the customer behavior and develop profitable business strategies in a timely and accurate manner. The successful candidate will be able to summarizes their work and communicates effectively to management.
   Working with various partners, the role will also have responsibilities of reporting, strategy implementation, strategy validation and ad-hoc analyses including customer segmentation, competitive analysis, sensitivity analysis and modeling, and performance read.
   
   A successful candidate will expand their competencies and grow their business and industry acumen, as well as demonstrate the ability to work on complex processes or projects across the end-to-end project cycle. They will gain knowledge to suggest new answers to old questions, develop insights and push the traditional boundaries of the lending industry.
   
   Key Responsibilities Under your manager's limited guidance, you will design, recommend, document, and execute consumer credit underwriting and pricing strategies via extracting and analyzing requisite historical customer performance data from multiple disparate systems. Utilize data query tools (i.e., R, SAS, SQL, MATLAB, Python) and decision tree analytical software to develop, test and execute new strategies. Leverage traditional regression model and machine learning algorithm to understand the key drivers and estimate customer behaviors by different strategy treatment Drive profitable business growth via developing strategy optimization framework with full credit-cycle view Implement Quality Control processes to ensure data accuracy. Continually enhance existing processes and reporting through automation, quality control, presentation, and insights. Effectively summarize and present results and insights to management. Qualifications Bachelor's degree (Graduate Preferred) in a quantitative discipline, such as Engineering, Statistics, Economics, Business Management or Computer Science is preferred. Four years of experience in complex, data-driven problem solving. Master's or PHD degrees may offset experience. Benefits
   
   Because we want our team members to bring us their very best every day, we believe they deserve the right opportunities and benefits. That's why we packed our comprehensive benefits package for full- and some part-timers with:
   
   • Health and wellbeing options for team members and their dependents
   • Up to 4% matching 401(k)
   • Tuition reimbursement
   • Continuing education
   • Bonus eligibility
   • Paid time off
   • Paid volunteer time

   Copy this example

   

5. Post your job

   There are a few common ways to find credit analysts for your business:

   • Promoting internally or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to meet candidates with the right educational background.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to recruit passive job-seekers.

   Post your job online:

   • Post your credit analyst job on Zippia to find and attract quality credit analyst candidates.
   • Use niche websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   During your first interview to recruit credit analysts, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

   You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new credit analyst

   Once you've selected the best credit analyst candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.

   It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.

   Once that's done, you can draft an onboarding schedule for the new credit analyst. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire a credit analyst?