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Chief Credit Officer Salary

The average Chief Credit Officer in the United States earns approximately $116K per year. Including potential for bonuses and profit sharing — peaking near $38K and $66K, respectively — total cash payment to Chief Credit Officers can bottom out near $82K or peak near $194K depending on individual performance. Almost all report receiving medical coverage from their employers and a fair number collect dental insurance. Chief Credit Officers who took the survey are largely men, dominating at 83 percent. For the most part, Chief Credit Officers enjoy their work and report high levels of job satisfaction. This report is based on responses to the PayScale salary survey.
$79,307 - $172,950
(Median)
$79K
$120K
$170K
MEDIAN: $116,479
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
$79,307 - $172,950  
   
Bonus
$0.00 - $38,463  
Profit Sharing
$993 - $66,063  
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).
)
$82,499 - $194,195  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 210
United States (change)

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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Popular Skills for Chief Credit Officer


Professional skills reported by Chief Credit Officers are few in number. Most notably, facility with Risk Management / Risk Control and Credit Control are correlated to pay that is significantly above average, leading to increases of 48 percent and 3 percent, respectively. At the other end of the pay range are skills like Loan Underwriting and Financial Analysis. It is not unusual for someone who knows Credit Control to be familiar with Financial Analysis as well.

Pay by Experience Level for Chief Credit Officer

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


Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Professionals with less than five years' experience earn a median of $80K annually, but folks with five to 10 years under their belts report a weighty six-figure median of $109K. On average, Chief Credit Officers make $117K following one to two decades on the job. Chief Credit Officers who have spent more than 20 years on the job report earning a significantly higher median of $133K.

Related Job Salaries

Experience Affects Chief Credit Officer Salaries

Late-Career
up arrow 8%

National Average
$123,000

Experienced
up arrow 5%

Mid-Career
up arrow 11%

Entry-Level
up arrow 35%

Skills That Affect Chief Credit Officer Salaries

Risk Management / Risk Control
up arrow 48%

Credit Control
up arrow 3%

National Average
$123,000


Loan Underwriting
up arrow 6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 59 votes.

Gender

Female
17 %
Male
83 %

Years of Experience

1-4 years
3%
5-9 years
9%
10-19 years
30%
20 years or more
57%

Common Health Benefits

medical benefits Medical: 92% dental benefits Dental: 74%
vision benefits Vision: 60% employee benefits None: 6%