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The differences between senior credit managers and managers 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 manager takes usually requires 4-6 years. Additionally, a senior credit manager has an average salary of $133,806, which is higher than the $58,651 average annual salary of a manager.
The top three skills for a senior credit manager include risk management, credit risk and credit analysis. The most important skills for a manager are customer service, payroll, and food safety.
| Senior Credit Manager | Manager | |
| Yearly salary | $133,806 | $58,651 |
| Hourly rate | $64.33 | $28.20 |
| Growth rate | 17% | 6% |
| Number of jobs | 47,642 | 1,236,194 |
| Job satisfaction | - | 4.57 |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 49% |
| Average age | 46 | 44 |
| Years of experience | 8 | 6 |
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.
Managers are responsible for a specific department, function, or employee group. They oversee their assigned departments and all the employees under the department. Managers are responsible that the department they are handling is functioning well. They set the department goals and the steps they must take to achieve the goals. They are also in charge of assessing the performance of their departments and their employees. Additionally, managers are responsible for interviewing prospective candidates for department vacancies and assessing their fit to the needs of the department. Managers also set the general working environment in the department, and they are expected to ensure that their employees remain motivated.
Senior credit managers and managers have different pay scales, as shown below.
| Senior Credit Manager | Manager | |
| Average salary | $133,806 | $58,651 |
| Salary range | Between $84,000 And $211,000 | Between $37,000 And $92,000 |
| Highest paying City | Las Vegas, NV | - |
| Highest paying state | Alaska | New Jersey |
| Best paying company | Credit Karma | - |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a senior credit manager and a manager in terms of educational background:
| Senior Credit Manager | Manager | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 49% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior credit managers' and managers' demographics:
| Senior Credit Manager | Manager | |
| Average age | 46 | 44 |
| Gender ratio | Male, 64.2% Female, 35.8% | Male, 51.0% Female, 49.0% |
| 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, 6.3% Unknown, 4.3% Hispanic or Latino, 15.5% Asian, 6.4% White, 67.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 10% |