Where do credit analysts make the most money?
The best Credit Analyst jobs can pay up to $177,500 per year. As a credit analyst, you evaluate customer credit history to determine the risk level for giving out loans or lines of credit to clients. You'll use statistical software to help you decide which clients are eligible for loans and which ones aren't.
The best Credit Analyst jobs can pay up to $177,500 per year. As a credit analyst, you evaluate customer credit history to determine the risk level for giving out loans or lines of credit to clients. You'll use statistical software to help you decide which clients are eligible for loans and which ones aren't.
The entry-level position for a credit analyst is a junior credit analyst, and they can rise to the level of a credit manager or senior credit analyst. Credit analysts work in banks, credit card companies, and credit rating agencies.
- Washington, DC. $90,200 per year. 162 salaries reported.
- New York, NY. $83,272 per year. 327 salaries reported.
- Houston, TX. $82,527 per year. 170 salaries reported.
- Dallas, TX. $79,627 per year. ...
- Los Angeles, CA. $79,061 per year. ...
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Educational Qualifications
Most employers that look for credit risk analysts prefer job candidates with undergraduate degrees in a quantitative business discipline such as finance, accounting, economics. or a related field.
Avg Salary
Wages typically start from $47,640 and go up to $160,680.
The job can be a pathway to a career as an investment banker, portfolio manager, or loan and trust manager. Being a credit analyst can be a stressful job. You often must decide whether a person or a company can make a purchase, and at what interest rate, which is a significant responsibility.
Average JPMorgan Chase & Co. Credit Risk Analyst salary in India is ₹19.2 Lakhs for less than 1 year of experience to 6 years. Credit Risk Analyst salary at JPMorgan Chase & Co. India ranges between ₹8.3 Lakhs to ₹32.0 Lakhs.
Outlook. Employment for credit analysts is expected to grow by 5 percent from 2018 to 2028, according to the U.S. Department of Labor, or about as fast as the average for all careers.
The estimated total pay range for a Risk Analyst at Morgan Stanley is ₹10L–₹17.2L per year, which includes base salary and additional pay. The average Risk Analyst base salary at Morgan Stanley is ₹13.5L per year.
What company pays analysts the most?
- McKinsey & Company. 4.2 $107,261per year. 832 reviews31 salaries reported.
- Boeing. 3.9 $97,962per year. 9,671 reviews13 salaries reported.
- Leidos. 3.7 $95,492per year. 1,778 reviews9 salaries reported.
- Apple. 4.1 $86,238per year. ...
- BlackRock. 3.8 $81,038per year. ...
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- Chief Financial Officer. ...
- Investment Banker. ...
- Budget Analyst. ...
- Budget Director. ...
- Tax Director. ...
- Tax Director. ...
- Hedge Fund Manager. ...
- Investment Portfolio Manager.
Financial analysts tend to work with the overall picture of economic trends and market movements to forecast financial situations. A career in accounting may be ideal if you enjoy examining data like auditing and reviewing financial statements. Financial analysts may make more money on average than accountants.
Because the success of the client or company is often directly tied to the performance of a financial analyst, it's very common for this base pay to be supplemented with bonuses or profit-sharing that is contingent on financial growth.
The primary distinction between these roles lies in their focus and scope. Credit Analysts are primarily dedicated to assessing credit risk and facilitating loan approvals, whereas Financial Analysts have a broader mandate, encompassing financial planning, investment analysis, and budget management.
It takes approximately 5 to 6 years to become a credit analyst. Year 1-4: Bachelor's Degree Most credit analysts need a bachelor's degree, which typically takes four years to complete. Year 5-6: Experience After obtaining a degree, one to two years of experience in the field is typical for credit analysts.
Credit analysts generally work in a relatively fast-paced office setting with a standard 40-hour workweek. They use financial software programs daily to evaluate applicants' financial health.
The work of a credit analyst is office-based, and an analyst can expect to work for an average of eight to 14 hours per day. Sometimes, credit analysts can work more hours into the night when deadlines are looming or when there is a critical situation that requires to be addressed by the credit team.
The estimated total pay for a Credit Analyst is $101,581 per year in the United States area, with an average salary of $85,641 per year.
In this role, you work remotely and communicate with the lender via phone or online. Your responsibilities involve analyzing information and creating reports that examine the risk of lending to a particular client.
What are the 5 C's of credit?
Called the five Cs of credit, they include capacity, capital, conditions, character, and collateral. There is no regulatory standard that requires the use of the five Cs of credit, but the majority of lenders review most of this information prior to allowing a borrower to take on debt.
Each day can bring different tasks and responsibilities. An Analyst's main focus may be completing a rush request for a client while another day will be filled with helping a mentee or attending team or social committee meetings. My day to day is mostly filled with underwriting credits for Key's clients.
Earn Your Finance Degree
After high school, the first step in the process of how to become a credit analyst is to earn your bachelor's degree. Although there is some flexibility regarding the type of degree you can earn, it should be in the field of finance, accounting or economics.
The estimated total pay for a Credit Analyst is $102,760 per year in the Chicago, IL area, with an average salary of $81,609 per year.
Special Considerations
Analysts evaluate the risk investments hold and determine the interest rate and credit limit or loan terms for a borrower. They use their research to ensure the borrower receives an affordable loan and the lender is protected if the borrower defaults.
