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The differences between senior 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 senior credit manager, becoming a senior 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 $86,364 average annual salary of a senior 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 senior credit analyst are credit analysis, customer service, and real estate.
| Senior Credit Manager | Senior Credit Analyst | |
| Yearly salary | $133,806 | $86,364 |
| Hourly rate | $64.33 | $41.52 |
| Growth rate | 17% | 17% |
| Number of jobs | 47,642 | 15,221 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 71% |
| 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 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.
Senior credit managers and senior credit analysts have different pay scales, as shown below.
| Senior Credit Manager | Senior Credit Analyst | |
| Average salary | $133,806 | $86,364 |
| Salary range | Between $84,000 And $211,000 | Between $59,000 And $125,000 |
| Highest paying City | Las Vegas, NV | White Plains, NY |
| Highest paying state | Alaska | New York |
| Best paying company | Credit Karma | Apple |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a senior credit manager and a senior credit analyst in terms of educational background:
| Senior Credit Manager | Senior Credit Analyst | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior credit managers' and senior credit analysts' demographics:
| Senior Credit Manager | Senior Credit Analyst | |
| Average age | 46 | 39 |
| Gender ratio | Male, 64.2% Female, 35.8% | Male, 54.6% Female, 45.4% |
| 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, 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% |