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The differences between credit managers and senior credit analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a credit manager, becoming a senior credit analyst takes usually requires 1-2 years. Additionally, a senior credit analyst has an average salary of $86,364, 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 senior credit analyst are credit analysis, customer service, and real estate.
| Credit Manager | Senior Credit Analyst | |
| Yearly salary | $68,583 | $86,364 |
| Hourly rate | $32.97 | $41.52 |
| Growth rate | 17% | 17% |
| Number of jobs | 63,898 | 15,221 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Average age | 46 | 39 |
| Years of experience | 8 | 2 |
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 senior credit analyst is responsible for reviewing the loan applications of an individual and organization, determining their eligibility by evaluating their credit scores and financial history. Senior credit analysts assess the applicant's capability to pay according to terms and conditions and loan payment plans. They submit recommendation reports of qualified applicants for further investigation and have them submit additional documents as needed. A senior credit analyst decides on credit limits and may provide the applicants' loan and credit alternatives, requiring them to have excellent knowledge of the financial industry and loan options.
Credit managers and senior credit analysts have different pay scales, as shown below.
| Credit Manager | Senior Credit Analyst | |
| Average salary | $68,583 | $86,364 |
| Salary range | Between $39,000 And $119,000 | Between $59,000 And $125,000 |
| Highest paying City | San Francisco, CA | White Plains, NY |
| Highest paying state | Oregon | New York |
| Best paying company | Microsoft | Apple |
| Best paying industry | Finance | Finance |
There are a few differences between a credit manager and a senior credit analyst in terms of educational background:
| Credit Manager | Senior Credit Analyst | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit managers' and senior credit analysts' demographics:
| Credit Manager | Senior Credit Analyst | |
| Average age | 46 | 39 |
| Gender ratio | Male, 53.9% Female, 46.1% | Male, 54.6% Female, 45.4% |
| 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, 8.3% Unknown, 2.7% Hispanic or Latino, 9.9% Asian, 10.0% White, 68.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |