How Much Does a Credit Analyst Make?

The average salary for a Credit Analyst is $57,964 per year. Salary estimates are based on 755 salaries submitted anonymously to Glassdoor by Credit Analyst employees.

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Job Description

A credit analyst is responsible for assessing the financial stability of individuals and businesses. This involves analyzing financial statements, tax returns, and other information to identify risk factors. Credit analysts work in the banking and financial services industries. They typically work full-time hours and are paid a salary.

Daily responsibilities

A credit analyst is responsible for assessing the financial stability of individuals and organizations applying for credit. They use their findings to make recommendations to lending institutions about whether or not to approve a loan, and if so, how much credit to extend and at what interest rate.

Credit analysts typically work in banking or financial services. They typically work regular business hours, but may occasionally need to work evenings or weekends to meet deadlines.

Education and training requirements

Credit analysts typically need at least a bachelor’s degree, although some employers may prefer or require a master’s degree. Relevant coursework for credit analysts includes accounting, finance, business administration, and economics. Many credit analysts also pursue professional certification, such as the Certified Credit Analyst (CCA) designation offered by the National Association of Credit Management or the Chartered Financial Analyst (CFA) designation offered by the CFA Institute.


A Credit Analyst in the United States makes on average $85,439 per year or $41.01 per hour. This is around 2.7 times more than the median wage of the country. Employment for a Credit Analyst is expected to grow by 11.5% over the next ten years, much faster than the average for all careers. They are usually employed by banks.

National average

As of Sep 9, 2020, the average annual pay for a Credit Analyst in the United States is $64,277 a year. Just in case you need a simple salary calculator, that works out to be approximately $30.86 an hour. This is the equivalent of $1,238/week or $5,352/month.

By experience

We’ve analyzed numerous job listings to identify these core Credit Analyst duties and responsibilities.

Develop and maintain creditworthiness analysis of new and existing clients
Organize and analyze financial statements and other information, such as credit history, to determine degree of risk involved in extending credit or lending money
Calculate ratios, using computer programs, to evaluate customers’ financial status
Recommend credit limits and terms, based on analysis of financial information
Monitor changes in assigned client’s financial condition to identify potential problems
Prepare reports that summarize client information and risk rating

By state

location is one of the most important factors in determining a credit analyst’s salary. California, New York, and Texas offer the highest average salary for credit analysts, while Rhode Island offers the lowest. Here is a breakdown of credit analyst salaries by state:

-California: $75,750
-New York: $73,000
-Texas: $67,500
-Rhode Island: $60,000

Job Outlook

Credit analysts are in high demand due to the role they play in the financial sector. They help to assess the risk of loaning money to individuals and businesses. The median annual salary for a credit analyst is $81,590. The job outlook for credit analysts is positive, with an expected 9% growth in jobs from 2019-2029.

Growth rate

The median annual wage for financial analysts was $85,660 in May 2019. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $56,040, and the highest 10 percent earned more than $149,560.

A credit analyst is a professional who performs financial analysis on potential and current borrowers in order to determine the risk involved in lending them money. A credit analyst’s job is to review a borrower’s financial history and current financial status to determine whether or not they are a good candidate for a loan.

There are many different types of credit analyst jobs, from commercial to investment banking, and the job outlook for this career is positive. Credit analysts can expect to see a 9% job growth from 2016 to 2026, according to the US Bureau of Labor Statistics.

The average salary for a credit analyst is $85,662 per year, with the top 10% earning an average of $119,530 per year.

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