Chief Credit Officer Salary

Pay for Chief Credit Officers in the United States sits in the ballpark of $119K annually. Total incomes of Chief Credit Officers incorporate potential for, in a few cases, more than $36K from bonuses and close to $65K from profit sharing; these performance components cause packages to range between $84K and $195K. The vast majority of Chief Credit Officers (85 percent) who took the survey are men. Nearly all report receiving medical coverage from their employers and a strong majority collect dental insurance. Job satisfaction is high and work is enjoyable for most Chief Credit Officers. This report is based on responses to the PayScale salary survey.

$82,059 - $173,022
(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
$82,059 - $173,022  
   
Bonus
$0.00 - $35,737  
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).
)
$84,241 - $194,898  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 212
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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.

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Survey results show that Chief Credit Officers typically report just a few 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. Skills that are correlated to lower pay, on the other hand, include Loan Underwriting and Financial Analysis. Credit Control and Financial Analysis are also commonly seen together.

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. Salaries of relatively inexperienced workers fall in the neighborhood of $84K, but folks who have racked up five to 10 years see a notably higher median of $112K. Chief Credit Officers claiming one to two decades of experience make an estimated median of $122K. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $134K, which is substantially larger than the medians reported by folks with fewer years on their resumes.

Related Job Salaries

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Experience Affects Chief Credit Officer Salaries

Late-Career
up arrow 7%

National Average
$125,000

Experienced
up arrow 3%

Mid-Career
up arrow 10%

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 43 votes.

Gender

Female
15 %
Male
85 %

Years of Experience

1-4 years
3%
5-9 years
8%
10-19 years
31%
20 years or more
58%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 74%
vision benefits Vision: 61% employee benefits None: 5%
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