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The differences between credit managers and bank managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a credit manager and a bank manager. Additionally, a bank manager has an average salary of $96,910, which is higher than the $68,583 average annual salary of a credit manager.
The top three skills for a credit manager include customer service, financial statements and credit card. The most important skills for a bank manager are bank products, financial services, and business development.
| Credit Manager | Bank Manager | |
| Yearly salary | $68,583 | $96,910 |
| Hourly rate | $32.97 | $46.59 |
| Growth rate | 17% | 17% |
| Number of jobs | 63,898 | 66,136 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 64% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
A bank manager is responsible for supervising banking operations and monitoring staff performance in providing the best customer service for clients with their banking needs and financial transactions. Bank managers assist the staff with the complexities of processes, train new hires, and strategize the development of services that would contribute to the bank's success. They also conduct fund audits and create accounts receivable reports at the end of the day. A bank manager responds to clients' inquiries and concerns, resolve complaints, and manage account disputes.
Credit managers and bank managers have different pay scales, as shown below.
| Credit Manager | Bank Manager | |
| Average salary | $68,583 | $96,910 |
| Salary range | Between $39,000 And $119,000 | Between $65,000 And $142,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Oregon | California |
| Best paying company | Microsoft | Accenture |
| Best paying industry | Finance | Finance |
There are a few differences between a credit manager and a bank manager in terms of educational background:
| Credit Manager | Bank Manager | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit managers' and bank managers' demographics:
| Credit Manager | Bank Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 53.9% Female, 46.1% | Male, 48.9% Female, 51.1% |
| Race ratio | 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% | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.3% Asian, 10.0% White, 63.7% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |