How to hire a credit manager

How to hire a credit manager, step by step

Here's a step-by-step credit manager 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 manager job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new credit manager
• Step 8: Go through the hiring process checklist

What does a credit manager do?

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1. Identify your hiring needs

   Before you start hiring a credit manager, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

   Determine employee vs contractor status

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

   Yes

   No

   A credit manager's background is also an important factor in determining whether they'll be a good fit for the position. For example, credit managers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   This list presents credit manager salaries for various positions.

   Type of Credit Manager	Description	Hourly rate
   Credit Manager	Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.	$18-57
   Accounts Receivable Manager	An accounts receivable manager is responsible for overseeing the financial matters in a business or company, focusing on the generated sales and income. Moreover, they are also responsible for maintaining an accurate and efficient collection of payments, conducting research and analysis, and supervising the workforce, striving to meet all the goals within the allotted time... Show more	$20-54
   Banking Center Manager	A banking center manager is responsible for monitoring bank operations, auditing financial transactions, and ensuring that the banking staff provides the highest customer service for their clients. Banking center managers assist the team members in responding to the customers' inquiries and concerns regarding the financial options they offer, opening accounts, selling financial instruments, and resolving transactional complaints... Show more	$45-83

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Financial Statements
   • Credit Card
   • Credit Risk
   • Credit Policy
   • Customer Accounts
   • Credit Limits
   • Delinquent Accounts
   • Accounts Receivables
   • Past Due Accounts
   • Credit Lines
   • DSO
   • Financial Analysis
   • Credit Worthiness

   Check all skills

   Responsibilities:

   • Manage treasury department including all cash management, bank relationships, and debt negotiations.
   • Manage an initiative to move customers from checks to ACH with CTX or EDI remittances.
   • Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
   • Launch the new SBA lending and residential mortgage lending programs.
   • Complete loan workouts and restructures on SBA 504 and LIHTC multifamily loans.
   • Leverage GBM using features generate on Experian's tradeline data through unsupervise learning tool Khiops.

   More credit manager duties

3. Make a budget

   Including a salary range in the credit manager job description is a good way to get more applicants. A credit manager salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.

   For example, the average salary for a credit manager in Florida may be lower than in Oregon, and an entry-level engineer typically earns less than a senior-level credit manager. Additionally, a credit manager with lots of experience in the field may command a higher salary as a result.

   Average credit manager salary

   $68,583yearly

   $32.97 hourly rate

   ---

   Entry-level credit manager salary

   $39,000 yearly salary

   Updated January 20, 2026

   Average credit manager salary by state

   Rank	State	Avg. salary	Hourly rate
   1	California	$106,920	$51
   2	Oregon	$98,481	$47
   3	Washington	$94,417	$45
   4	New York	$87,079	$42
   5	Nevada	$86,998	$42
   6	Virginia	$82,761	$40
   7	Delaware	$80,719	$39
   8	Massachusetts	$79,637	$38
   9	Connecticut	$78,923	$38
   10	New Jersey	$76,251	$37
   11	Arizona	$73,185	$35
   12	Maryland	$73,171	$35
   13	Pennsylvania	$69,619	$33
   14	Illinois	$69,379	$33
   15	Texas	$67,066	$32
   16	South Carolina	$66,366	$32
   17	Tennessee	$64,343	$31
   18	Minnesota	$60,374	$29
   19	North Carolina	$59,081	$28
   20	Georgia	$56,084	$27

   Average credit manager salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Microsoft	$148,108	$71.21	73
   2	First Republic Bank	$142,280	$68.40
   3	BNP Paribas	$135,232	$65.02	1
   4	Nomura Securities	$129,861	$62.43	22
   5	Cisco	$125,891	$60.52	2
   6	ABN AMRO Chicago Corporation	$124,750	$59.98
   7	BMO Capital Markets	$124,461	$59.84	204
   8	Ernst & Young	$120,145	$57.76	2,754
   9	HSBC Bank	$119,985	$57.69	3
   10	Tennant	$119,893	$57.64
   11	Standard Chartered	$116,890	$56.20	63
   12	RSM US	$116,175	$55.85	402
   13	CBC Companies Inc	$110,428	$53.09
   14	FHLBank Chicago	$109,239	$52.52	1
   15	American Express	$109,091	$52.45	24
   16	Fiserv	$106,959	$51.42	8
   17	Deloitte	$102,445	$49.25	1,762
   18	Volvo Trucks	$101,594	$48.84
   19	BTG Pactual	$100,602	$48.37
   20	Teva Pharmaceuticals	$99,872	$48.02	2

4. Writing a credit manager job description

   A job description for a credit manager role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a credit manager job description:

   Credit manager job description example

   Ferguson is North America's leading improved distributor across residential, non-residential, new construction and repair, maintenance, and improvement (RMI) end markets. Spanning 34,000 suppliers and more than one million customers, we deliver local expertise, valuable solutions, and the industry's most extensive portfolio of products. From infrastructure, plumbing, and appliances, to HVAC, fire protection, fabrication, and more, we make our customers' complex projects simple, successful, and sustainable.
   
   The Market Credit Manager will lead all aspects of accounts in the Jackson, MS and surrounding area, as well as oversee accounts categorized under the Industrial business group in Alabama. We are also open to this associate residing in the Memphis, TN area. This is a great opportunity to join our credit team, managing a diverse customer portfolio.
   Responsibilities:
   Evaluate the credit file for new and existing customers, setting credit limits that balance the organization's credit risk and appetite for profitable sales.Evaluate customer project information, and determine whether secondary security may exist, such as lien and bond rights.Understand mechanic's lien law for the states covered under the account portfolio. Subsequently qualify customer project information to make a credit decision.Engage in collections follow up with customers that are any of the following: past due, nearing past due, nearing, at or exceeding of assigned credit limit.Ensure that credit and collections activities are conducted effectively and ethically, including following the organization's policies and standards as well as relevant regulations and laws.Endorse key initiatives including Ferguson.com self-service payment and digital form adoption.Embrace organizational changes, process changes, and technology solutions, and provide feedback to leadership.Meet regularly with branch leadership to ensure credit and sales strategy is aligned.Travel regularly within a defined area to include overnight travel as needed.Spend a significant amount of time each month visiting customers, riding with sales teams, strengthening relationships, and solving challenges.Escalate key issues to Regional Credit Manager and other members of sales and branch leadership.Follow established procedures and guidelines to collect and secure credit information, and maintain accurate records.
   Qualifications:
   3 years of experience as a credit professional required, to perform at expectation Proficiency reviewing Credit Reports (specifically TransUnion Consumer and Dun & Bradstreet Commercial) Proficiency within ExcelStrong written and oral communication Basic Knowledge reviewing Financial StatementsBachelor's degree or professional credit experience required Valid drivers' license preferred Familiarity with applications such as PowerBI and Microsoft Teams, a plus
   Ferguson is dedicated to providing meaningful benefits programs and products to our associates and their families-geared toward benefits, wellness, financial protection, and retirement savings. Ferguson offers a competitive benefits package that includes medical, dental, vision, retirement savings with company match, paid leave (vacation, sick, personal, holiday, and parental), employee assistance programs, associate discounts, community involvement opportunities, and much more!
   -
   The Company is an equal opportunity employer as well as a government contractor that shall abide by the requirements of 41 CFR 60-300.5(a), which prohibits discrimination against qualified protected Veterans and the requirements of 41 CFR 60-741.5(A), which prohibits discrimination against qualified individuals on the basis of disability.
   
   Ferguson Enterprises, LLC. is an equal employment employer F/M/Disability/Vet/Sexual Orientation/Gender Identity.
   
   Equal Employment Opportunity and Reasonable Accommodation Information

   Copy this example

   

5. Post your job

   There are various strategies that you can use to find the right credit manager for your business:

   • Consider promoting from within or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to find candidates who meet your education requirements.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to reach potential job candidates.

   Post your job online:

   • Post your credit manager job on Zippia to find and recruit credit manager candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   Your first interview with credit manager candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.

   It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to 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 manager

   Once you've decided on a perfect credit manager candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.

   It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.

   After that, you can create an onboarding schedule for a new credit manager. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.

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 manager?