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The differences between senior credit managers and senior manageds can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a senior credit manager and a senior managed. Additionally, a senior credit manager has an average salary of $133,806, which is higher than the $107,923 average annual salary of a senior managed.
The top three skills for a senior credit manager include risk management, credit risk and credit analysis. The most important skills for a senior managed are project management, portfolio, and emerging technologies.
| Senior Credit Manager | Senior Managed | |
| Yearly salary | $133,806 | $107,923 |
| Hourly rate | $64.33 | $51.89 |
| Growth rate | 17% | 17% |
| Number of jobs | 47,642 | 49,112 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 64% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
Senior managers are responsible for organizing and managing the performance of a group of individuals. They observe their work and rectify actions when necessary. These managers usually direct the most important group in the company and may supervise the workers directly or guide their supervisors that in turn, managed them. Their duties include controlling the overall financial budgeting. Also, they approve hiring and firing requests within the company and guide the distinguishing of talents as well as the growth processes for the function. Additionally, they work with senior management and other peers for the establishment of strategies and implementation planning.
Senior credit managers and senior manageds have different pay scales, as shown below.
| Senior Credit Manager | Senior Managed | |
| Average salary | $133,806 | $107,923 |
| Salary range | Between $84,000 And $211,000 | Between $71,000 And $162,000 |
| Highest paying City | Las Vegas, NV | Sacramento, CA |
| Highest paying state | Alaska | Washington |
| Best paying company | Credit Karma | Walmart |
| Best paying industry | Manufacturing | Technology |
There are a few differences between a senior credit manager and a senior managed in terms of educational background:
| Senior Credit Manager | Senior Managed | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between senior credit managers' and senior manageds' demographics:
| Senior Credit Manager | Senior Managed | |
| Average age | 46 | 46 |
| Gender ratio | Male, 64.2% Female, 35.8% | Male, 61.6% Female, 38.4% |
| 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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.3% Asian, 10.1% White, 63.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |