Chief Credit Officer Salary

Earnings for Chief Credit Officers in the United States come in at around $119K annually on average. In the world of Chief Credit Officers, overall cash allowance can occasionally include more than $37K from bonuses and, in some exceptional cases, $65K from profit sharing, causing incomes to vary widely between $84K and $196K. Work is enjoyable for Chief Credit Officers, who typically claim high levels of job satisfaction. There are far more male Chief Credit Officers survey respondents than women, making up 85 percent. Nearly all enjoy medical while a strong majority get dental coverage. Vision coverage is also available to more than half. The data for this synopsis comes from respondents who took the PayScale salary survey.

$81,633 - $173,864

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$70K$140K$210K
Salary
$81,633 - $173,864  
   
Bonus
$0.00 - $36,987  
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).
)
$83,898 - $196,046  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 206
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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 indicated only a few skills that they use on the job. 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 with a rich background of experience are typically rewarded with larger paychecks. Those in the early stages of their career can expect to make around $84K; however, individuals with five to 10 years of experience bring in $110K on average — a distinctly larger sum. Chief Credit Officers see a median salary of $120K after reaching one to two decades on the job. Old hands who claim more than two decades on the job enjoy average earnings of $135K.

Related Job Salaries

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Experience Affects Chief Credit Officer Salaries

Late-Career
up arrow 8%

National Average
$124,000

Experienced
up arrow 4%

Mid-Career
up arrow 11%

Entry-Level
up arrow 32%

Skills That Affect Chief Credit Officer Salaries

Risk Management / Risk Control
up arrow 17%

Credit Control
0%

National Average
$124,000


Loan Underwriting
up arrow 8%

Job Satisfaction

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

Gender

Female
15 %
Male
85 %

Years of Experience

1-4 years
3%
5-9 years
8%
10-19 years
29%
20 years or more
60%

Common Health Benefits

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