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The differences between senior credit managers and 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 senior credit manager, becoming a credit analyst takes usually requires 1-2 years. Additionally, a senior credit manager has an average salary of $133,806, which is higher than the $61,422 average annual salary of a credit analyst.
The top three skills for a senior credit manager include risk management, credit risk and credit analysis. The most important skills for a credit analyst are customer service, credit analysis, and customer accounts.
| Senior Credit Manager | Credit Analyst | |
| Yearly salary | $133,806 | $61,422 |
| Hourly rate | $64.33 | $29.53 |
| Growth rate | 17% | -5% |
| Number of jobs | 47,642 | 16,406 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 65% |
| Average age | 46 | 39 |
| Years of experience | 8 | 2 |
Senior credit managers are financial professionals who are responsible for overseeing the credit granting process for a financial institution. These managers are required to develop risk management solution strategies so that the institution can maintain risk and improve profitability. They must screen the credit history of applicants as well as to conduct interviews to minimize credit risk and potential monetary loss. They must also conduct credit analysis and financial risk evaluations by gathering and analyzing all types of credit information on new and existing customers.
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.
Senior credit managers and credit analysts have different pay scales, as shown below.
| Senior Credit Manager | Credit Analyst | |
| Average salary | $133,806 | $61,422 |
| Salary range | Between $84,000 And $211,000 | Between $40,000 And $93,000 |
| Highest paying City | Las Vegas, NV | New York, NY |
| Highest paying state | Alaska | New York |
| Best paying company | Credit Karma | Apollo Global Management |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a senior credit manager and a credit analyst in terms of educational background:
| Senior Credit Manager | Credit Analyst | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior credit managers' and credit analysts' demographics:
| Senior Credit Manager | Credit Analyst | |
| Average age | 46 | 39 |
| Gender ratio | Male, 64.2% Female, 35.8% | Male, 44.2% Female, 55.8% |
| Race ratio | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 9.9% White, 63.7% American Indian and Alaska Native, 0.3% | 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 | 11% | 11% |