Commercial Credit Analyst Salary
Commercial Credit Analysts in the United States can expect wages of $52K annually on average. Cash earnings for Commercial Credit Analysts — which occasionally include more than $8K from bonuses and more than $3K from profit sharing — stretch from around $36K to approximately $75K. Geography is the biggest factor affecting pay for this group, followed by career length. Work is enjoyable for Commercial Credit Analysts, who typically claim high levels of job satisfaction. Men make up the majority of Commercial Credit Analysts (64 percent) survey respondents. Nearly all report receiving medical coverage from their employers and a strong majority collect dental insurance. The data for this synopsis comes from respondents who took the PayScale salary survey.
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.
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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. Skills that are correlated to lower pay, on the other hand, include 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.
For Commercial Credit Analysts, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Although individuals who have less than five years' experience earn $50K on average, people with five to 10 years benefit from a notably larger average of $61K. Commercial Credit Analysts bring in $63K after working for 10 to 20 years. In the end, more experience does seem to mean larger paychecks; seasoned Commercial Credit Analysts with more than 20 years of experience earn a predictably higher median salary of $65K.
Pay Difference by Location
Surpassing the national average by 35 percent, Commercial Credit Analysts in New York receive some of the highest pay in the country. Commercial Credit Analysts can also look forward to large paychecks in cities like Denver (+25 percent), Boston (+13 percent), Dallas (+12 percent), and Chicago (+8 percent). St. Louis is the lowest-paying area, 19 percent south of the national average. A couple other locations with smaller-than-average paychecks include Albany (14 percent lower) and Portland (10 percent lower).
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