Credit Analysts

13-2041.00 Zone 4 — Considerable Preparation Needed

Analyze credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with credit information for use in decisionmaking.

Also known as: Commercial Credit Analyst, Commercial Credit Manager, Credit Administrator, Credit Analyst, Credit and Collections Analyst, Credit Assessment Analyst, Credit Assistant Manager, Credit Coordinator, ...

Annual Salary

$80,970

Median annual wage (May 2024)

$63,850 25th – 75th percentile $113,850
10th percentile $52,930
90th percentile $168,840
U.S. Employment: 67,370

Job Outlook

-4.4%

Projected growth, 2024–2034 (Declining)

Annual Job Openings 3,700 per year (avg. 2024–2034)
Typical education: Bachelor's degree

What You'd Do

  • Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
  • Prepare reports that include the degree of risk involved in extending credit or lending money.
  • Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
  • Generate financial ratios, using computer programs, to evaluate customers' financial status.
  • Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
  • Consult with customers to resolve complaints and verify financial and credit transactions.
  • Analyze financial data, such as income growth, quality of management, and market share to determine expected profitability of loans.
  • Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
  • Confer with credit association and other business representatives to exchange credit information.
  • Review individual or commercial customer files to identify and select delinquent accounts for collection.

Top Skills

Critical Thinking 3.9
Reading Comprehension 3.6
Speaking 3.6
Active Learning 3.6
Active Listening 3.5
Mathematics 3.4
Writing 3.1
Judgment and Decision Making 3.1

Importance scale: 1 (low) – 5 (high)

Knowledge Areas

Economics and Accounting 4.5
English Language 3.9
Mathematics 3.9
Law and Government 3.3
Administrative 3.0
Customer and Personal Service 2.9
Computers and Electronics 2.9
Administration and Management 2.8

Importance scale: 1 (low) – 5 (high)

Education Level Distribution

Percentage of workers in this occupation by education level

Bachelor's
95%
Master's
5%

Technology & Tools

Software and tools commonly used in this role

In-Demand Technologies

Microsoft Excel Microsoft Office software Microsoft Outlook Microsoft PowerPoint Microsoft SQL Server Microsoft Visual Basic Microsoft Visual Basic for Applications VBA Microsoft Word Python SAP software SAS Structured query language SQL

Other Tools

CGI-AMS BureauLink Enterprise CGI-AMS CACS Enterprise CGI-AMS Strata Credit adjudication and lending management system CALMS Credit and risk analysis software Credit fraud detection software Dun and Bradstreet Global DecisionMaker eCredit Enterprise Equifax Advanced Decisioning Equifax Application Engine Equifax InterConnect Experian Credinomics Experian Detect Experian FraudShield Experian Quest +3 more

Work Styles

Personality traits and work styles important for this career

3.0
Attention to Detail
2.6
Dependability
2.5
Cautiousness
2.5
Integrity
2.1
Intellectual Curiosity
1.8
Achievement Orientation
1.7
Perseverance

Key Abilities

Cognitive, physical, and sensory abilities important for this role

Oral Expression 4.0
Oral Comprehension 3.9
Written Comprehension 3.9
Inductive Reasoning 3.9
Number Facility 3.8
Mathematical Reasoning 3.8
Problem Sensitivity 3.8
Deductive Reasoning 3.8

Importance scale: 1 (low) – 5 (high)

Work Activities

General types of job behaviors occurring on this job

Analyzing Data or Information 4.7
Getting Information 4.6
Working with Computers 4.5
Processing Information 4.4
Communicating with Supervisors, Peers, or Subordinates 4.3
Making Decisions and Solving Problems 4.1
Updating and Using Relevant Knowledge 3.9
Interpreting the Meaning of Information for Others 3.8

Importance scale: 1 (low) – 5 (high)

Work Environment

Physical and social factors that influence the nature of work

E-Mail
5.0
Indoors, Environmentally Controlled
5.0
Spend Time Sitting
4.9
Telephone Conversations
4.7
Face-to-Face Discussions with Individuals and Within Teams
4.7
Importance of Being Exact or Accurate
4.5
Time Pressure
4.2
Determine Tasks, Priorities and Goals
4.2
Importance of Repeating Same Tasks
4.1
Written Letters and Memos
4.1
Freedom to Make Decisions
3.8
Contact With Others
3.7

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Salary data: BLS Occupational Employment and Wage Statistics, May 2024. Outlook data: BLS Employment Projections, 2024–2034.

This page includes information from the O*NET 30.2 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license.