Chief Credit Officer Salary

An average Chief Credit Officer in the United States can expect to take home roughly $119K annually. In the world of Chief Credit Officers, overall income ranges from $84K near the bottom to $195K at the top; this can include more than $38K from bonuses and more than $65K from profit sharing in exceptional cases. Medical benefits are awarded to nearly all, and a strong majority earn dental coverage. The vast majority (86 percent) of Chief Credit Officers who answered the questionnaire are male. The majority of workers are highly satisfied with their job. This report is based on responses to the PayScale salary survey.

$81,958 - $173,306
(Median)
$82K
$120K
$170K
MEDIAN: $119,326
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$70K$140K$210K
Salary
$81,958 - $173,306  
   
Bonus
$0.00 - $38,346  
Profit Sharing
$997 - $65,447  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$84,128 - $195,347  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 210
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Job Description for Chief Credit Officer

A chief credit officer is a senior company executive whose job is to develop and manage a company's overall credit strategy. Those in this position develop credit risk strategies and oversee loan portfolios with the objective of maintaining high-quality borrowing strategies, and implementing risk-mitigation strategies, for the company.

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Chief Credit Officer Tasks

  • Ensure compliance with regulations, credit delivery systems, and reporting credit related activities.
  • Direct the credit division and oversee loan portfolios with an eye for risk management.
  • Utilize an established network of contacts to initiate, lead, and negotiate business transactions for long and short-term credit loans.
  • Provide recommendations for policy revisions and advise lending management on potential risk.

Chief Credit Officer Job Listings

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Chief Credit Officers who responded to the survey report just a handful of professional skills. Most notably, skills in Risk Management / Risk Control, Credit Control, Financial Analysis, and Loan Underwriting are correlated to pay that is above average. At the other end of the pay range are skills like Loan Underwriting and Financial Analysis. Credit Control and Financial Analysis are correlating skills — those who know the former usually know the latter.

Pay by Experience Level for Chief Credit Officer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Chief Credit Officers generally obtain higher compensation for more plentiful past experience. Inexperienced workers earn around $84K, but people who have been around for five to 10 years pull down a much higher average of $111K. Chief Credit Officers bring in $122K after working for 10 to 20 years. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $135K on average.

Related Job Salaries

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Experience Affects Chief Credit Officer Salaries

Late-Career
up arrow 8%

National Average
$125,000

Experienced
up arrow 3%

Mid-Career
up arrow 11%

Entry-Level
up arrow 33%

Skills That Affect Chief Credit Officer Salaries

Risk Management / Risk Control
up arrow 17%

Credit Control
0%

National Average
$125,000


Loan Underwriting
up arrow 8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 42 votes.

Gender

Female
14 %
Male
86 %

Years of Experience

1-4 years
3%
5-9 years
8%
10-19 years
30%
20 years or more
59%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 73%
vision benefits Vision: 60% employee benefits None: 5%
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