Credit clerk vs credit analyst

The differences between credit clerks and credit analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a credit clerk, becoming a credit analyst takes usually requires 1-2 years. Additionally, a credit analyst has an average salary of $61,422, which is higher than the $32,870 average annual salary of a credit clerk.

The top three skills for a credit clerk include data entry, customer service and customer accounts. The most important skills for a credit analyst are customer service, credit analysis, and customer accounts.

Credit clerk vs credit analyst overview

	Credit Clerk	Credit Analyst
Yearly salary	$32,870	$61,422
Hourly rate	$15.80	$29.53
Growth rate	-5%	-5%
Number of jobs	86,922	16,406
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 36%	Bachelor's Degree, 65%
Average age	51	39
Years of experience	6	2

What does a credit clerk do?

Credit clerks control their company's credit and collection policies and daily procedures. They use the database to improve their organization's collections and maintain records for internal control and compliance. They deal with collecting, investigating, analyzing, and correcting disputed accounts to serve customers better and increase their collection rate. These clerks work with a credit manager to identify which accounts need to be written off for bad debt and solve complex cases that require special collection attention. They sometimes negotiate with customers to discuss the terms of payment for their unpaid balances.

What does a credit analyst do?

A credit analyst's role is to assess and determine a client's capacity to uphold financial obligations when applying for loans or credit programs. Working for creditors like banks and lending firms, a credit analyst must interpret and analyze financial data and personal records, identify inconsistencies and risks, and verify necessary documentation in support of loan committees. Furthermore, a credit analyst must also perform administrative tasks such as preparing reports and applications, fulfilling document requests, reaching out to clients, and coordinating with colleagues to assure accuracy in all operations.

Credit clerk vs credit analyst salary

Credit clerks and credit analysts have different pay scales, as shown below.

	Credit Clerk	Credit Analyst
Average salary	$32,870	$61,422
Salary range	Between $26,000 And $40,000	Between $40,000 And $93,000
Highest paying City	Springfield, OR	New York, NY
Highest paying state	Oregon	New York
Best paying company	JBS USA	Apollo Global Management
Best paying industry	Automotive	Finance

Differences between credit clerk and credit analyst education

There are a few differences between a credit clerk and a credit analyst in terms of educational background:

	Credit Clerk	Credit Analyst
Most common degree	Bachelor's Degree, 36%	Bachelor's Degree, 65%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Credit clerk vs credit analyst demographics

Here are the differences between credit clerks' and credit analysts' demographics:

	Credit Clerk	Credit Analyst
Average age	51	39
Gender ratio	Male, 14.3% Female, 85.7%	Male, 44.2% Female, 55.8%
Race ratio	Black or African American, 6.9% Unknown, 4.0% Hispanic or Latino, 14.7% Asian, 6.6% White, 67.1% American Indian and Alaska Native, 0.6%	Black or African American, 7.7% Unknown, 2.6% Hispanic or Latino, 9.5% Asian, 10.5% White, 69.4% American Indian and Alaska Native, 0.3%
LGBT Percentage	7%	11%

Differences between credit clerk and credit analyst duties and responsibilities

Credit clerk example responsibilities.

Manage resident's private information for insurance verification, billing, and eligibility to apply for Medicaid.
Maintain payroll, attendance records, coordinate group travel arrangements and conference calls.
Prepare, check, and maintain various records and payroll reports.
Transfer loans from warehouse to permanent investor reports on the CPI systems.
Process applications for credit, Microsoft excel, AS400 , 10key by touch, type 45 wpm.
Travele to the post office to drop off approve incidents and pick up remittance items from the assigned lockboxes.

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Credit analyst example 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.

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Credit clerk vs credit analyst skills

Common credit clerk skills

Data Entry, 13%
Customer Service, 12%
Customer Accounts, 6%
Credit Card Payments, 5%
Financial Statements, 5%
AS400, 4%

Common credit analyst skills

Customer Service, 12%
Credit Analysis, 7%
Customer Accounts, 4%
Real Estate, 4%
Credit Risk, 4%
Strong Analytical, 4%

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Updated January 8, 2025

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