Commercial Credit Analyst Salary
Pay for Commercial Credit Analysts in the United States sits in the ballpark of $52K per year. Total cash compensation to Commercial Credit Analysts approaches anywhere from $36K on the lower end to $74K on the higher end; in exceptional cases, this can include more than $8K from bonuses and upwards of $3K from profit sharing. Residence and tenure each impact pay for this group, with the former having the largest influence. There are more male Commercial Credit Analysts than female among those who completed the questionnaire, making up 64 percent. Job satisfaction for Commercial Credit Analysts is high. Almost all enjoy medical while a fair number get dental coverage. Vision coverage is also available to the larger part. The numbers in this rundown were provided by PayScale's salary survey participants.
Job Description for Commercial Credit Analyst
A commercial credit analyst is responsible for gathering and analyzing credit information for current and prospective business borrowers. These analysts complete analyses for new loan requests and make recommendations for risk ratings according to what they discover. They must also analyze credit data and financial statements as part of risk analysis on new and renewing loans. Commercial credit analysts also prepare written summaries of credit analysis of the business' services, as well as compare financial strengths of businesses being evaluated with similar businesses in the same industries. Additionally, these analysts must collaborate with auditors and loan review specialists. This is generally a full-time position, although overtime may be required depending on the needs of the business.Read More...
A commercial credit analyst position generally requires at least a bachelor's degree in accounting, finance, or a related position. Additionally, they must have at least five years of related work experience. Commercial credit analysts must possess strong interpersonal, multitasking, and communication skills. They should also work well in a team setting, as well as on their own with minimal supervision. These analysts should also be proficient with basic computer programs such as the Microsoft Office suite.
Commercial Credit Analyst Tasks
- Assess credit risk.
- Aggregate and evaluate data related to credit and credit risk to support organizational decision-making.
- Ensure that approved accounts remain in good standing.
- Establish terms for approved credit requests.
Common Career Paths for Commercial Credit Analyst
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Popular Skills for Commercial Credit Analyst
Commercial Credit Analysts generally report applying a varied skill set to their work. Most notably, skills in Risk Management / Risk Control, Loan Underwriting, Financial Analysis, and Commercial Loans are correlated to pay that is above average. At the other end of the pay range are skills like Accounting. Those educated in Commercial Loans tend to be well versed in Loan Underwriting.
Pay by Experience Level for Commercial Credit Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Commercial Credit Analysts with a lot of experience do not necessarily enjoy more money. Survey participants with less than five years' experience pocket $50K on average, but those with five to 10 years of experience enjoy a much bigger median of $60K. Commercial Credit Analysts bring in $62K after working for 10 to 20 years. After two decades in the workforce, the average Commercial Credit Analyst generally earns more than ever; median pay for this group is estimated at $65K.
Pay Difference by Location
With a pay rate for Commercial Credit Analysts that is 35 percent greater than the national average, New York offers a comfortable salary for those in this profession. Commercial Credit Analysts will also find cushy salaries in Denver (+25 percent), Boston (+14 percent), Dallas (+12 percent), and Chicago (+6 percent). St. Louis is home to the smallest salaries in the field, lagging the national average by 19 percent. Two other places where employers offer below-median salaries are Louisville (15 percent less) and Albany (14 percent less).