Credit representative vs senior credit analyst

The differences between credit representatives and senior credit analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a credit representative and a senior credit analyst. Additionally, a senior credit analyst has an average salary of $86,364, which is higher than the $39,268 average annual salary of a credit representative.

The top three skills for a credit representative include customer service, customer accounts and patients. The most important skills for a senior credit analyst are credit analysis, customer service, and real estate.

Credit representative vs senior credit analyst overview

	Credit Representative	Senior Credit Analyst
Yearly salary	$39,268	$86,364
Hourly rate	$18.88	$41.52
Growth rate	-8%	17%
Number of jobs	73,520	15,221
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 71%
Average age	39	39
Years of experience	2	2

What does a credit representative do?

Credit representatives are professionals who analyze the credit data and the financial statements of firms or individuals for the determination of the risk in lending money or extending credit. The representatives are tasked to prepare reports with credit information used in decision making. They manage credit files and process credit reports from different credit reporting sources. They also mentor and coach credit representatives newly hired in corporate procedures and policies. Also, they expand collection procedures and policies to lessen DSO parameter risk.

What does a senior credit analyst do?

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 representative vs senior credit analyst salary

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

	Credit Representative	Senior Credit Analyst
Average salary	$39,268	$86,364
Salary range	Between $28,000 And $54,000	Between $59,000 And $125,000
Highest paying City	White Plains, NY	White Plains, NY
Highest paying state	New York	New York
Best paying company	Systemax	Apple
Best paying industry	Construction	Finance

Differences between credit representative and senior credit analyst education

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

	Credit Representative	Senior Credit Analyst
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 71%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Credit representative vs senior credit analyst demographics

Here are the differences between credit representatives' and senior credit analysts' demographics:

	Credit Representative	Senior Credit Analyst
Average age	39	39
Gender ratio	Male, 29.5% Female, 70.5%	Male, 54.6% Female, 45.4%
Race ratio	Black or African American, 8.3% Unknown, 2.7% Hispanic or Latino, 10.0% Asian, 7.8% White, 71.0% 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%

Differences between credit representative and senior credit analyst duties and responsibilities

Credit representative example responsibilities.

Manage portfolio utilizing AS400 and GetPaid systems.
Manage all credit files and process credit reports from various credit reporting sources including TRW and Dunn & Bradstreet.
Manage customer relations with internal personnel, group administrators, brokers and members as related to Medicare insurance.
Apply customer credit card and ACH payments.
Perform the posting of checks refunds and credit cards into the AS400 database.
Collect invoices through wire payment, ACH payments, and overnight mail options.

Senior credit analyst example responsibilities.

Supervise staff of 20-30 credit professionals managing an $80 - $100 million A/R portfolio consistently exceeding aging goals.
Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
Maintain customer master database in ERP.
Pull all back-up documentation for quarterly SOX compliance audit.
Ensure policies and procedures are follow in accordance with SOX guidelines.
Resolve and communicate insufficient check and ACH issues with customers and sales.

Credit representative vs senior credit analyst skills

Common credit representative skills

Customer Service, 22%
Customer Accounts, 6%
Patients, 5%
Credit Card Payments, 4%
Credit Balances, 4%
Payment Arrangements, 4%

Common senior credit analyst skills

Credit Analysis, 6%
Customer Service, 6%
Real Estate, 6%
Risk Management, 4%
Credit Risk, 4%
Loan Portfolio, 4%

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Credit Representative
Credit Representative vs Senior Credit Analyst

Updated January 8, 2025

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