Credit Analyst, Banking Salary

The average Banking Credit Analyst in the United States earns approximately $55K per year. Overall cash earnings for Banking Credit Analysts stretch from $36K on the lower end to $90K near the top, and the heftiest packages can encompass around $13K from bonuses and $5K from profit sharing. The most influential factor affecting pay for this group is geography, though experience level and the individual firm have a (lesser) impact as well. Job satisfaction is high and work is enjoyable for most Banking Credit Analysts. A large number receive medical and dental insurance and more than half get vision plans. The majority of Banking Credit Analysts (65 percent) who took the survey are men. This report is based on answers to PayScale's salary questionnaire.

$38,736 - $89,022
$39K
$55K
$89K
MEDIAN: $54,553
10%
50%
90%

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$13.33 - $24.31
$13
$17
$24
MEDIAN: $17.41
10%
50%
90%

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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$31K$62K$93K
Salary
$38,736 - $89,022  
   
Bonus
$916 - $12,531  
Profit Sharing
$0.00 - $4,700  
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).
)
$35,714 - $90,319  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 174
National Hourly Rate 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$16$32$48
Hourly Rate
$13.33 - $24.31  
   
Overtime
$25.16 - $43.34  
National Annualized 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$32K$64K$96K
Bonus
$916 - $12,531  
   
Profit Sharing
$0.00 - $4,700  
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).
)
$35,714 - $90,319  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 29

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United States (change)

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Job Description for Credit Analyst, Banking

Banking credit analysts research and review consumer credit information through various sources to analyze the creditworthiness of applicants for their institution's services. They must also interview references, review relevant financial data of the applicants, and determine an appropriate line of credit (if one is determined to be appropriate). Banking credit analysts typically work daily with the sales department, lessees of vehicles and property, and property dealers and brokers to ensure the correct processing of credit applications. Their work with dealers also assists the sales department by proxy, as relationship-building skills are used by all three parties to create strong professional ties.

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Credit Analyst, Banking 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 Credit Analyst, Banking


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It's not very common for Banking Credit Analysts to move on to become VPs of Credit. Average pay for a VP of Credit is $109K annually. Banking Credit Analysts typically move into roles as Commercial Loan Officers or Commercial Lenders, and those positions pay $13K more and $24K more, respectively.

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Popular Employer Salaries for Credit Analyst, Banking


Popular Skills for Credit Analyst, Banking


Survey takers who work as Banking Credit Analysts typically report just a few professional skills. Most notably, skills in Commercial Loans, Loan Underwriting, Financial Analysis, and Accounting are correlated to pay that is above average, with boosts between 8 percent and 18 percent. The majority of those who know Financial Analysis also know Accounting.

Pay by Experience Level for Credit Analyst, Banking

Pay by Experience for a Credit Analyst, Banking has a positive trend. An entry-level Credit Analyst, Banking with less than 5 years of experience can expect to earn an average total compensation of $51,000 based on 140 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Credit Analyst, Banking with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $65,000 based on 47 salaries. An experienced Credit Analyst, Banking which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $81,000 based on 30 salaries. A Credit Analyst, Banking with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $61,000 based on 15 salaries.

Pay Difference by Location

National Average: $53,141

Larger city markers indicate a job is popular in that location.

Banking Credit Analysts will find that New York offers an impressive pay rate, one which exceeds the national average by 86 percent. Banking Credit Analysts will also find cushy salaries in Los Angeles (+40 percent), Atlanta (+32 percent), Chicago (+12 percent), and Dallas (+8 percent). Buffalo ranks last in the field for pay, reporting salaries 11 percent below the national average.

Related Job Salaries

Key Stats for Credit Analyst, Banking

Gender

Female
35 %
Male
65 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 31 votes.
Less than 1 year
13%
1-4 years
48%
5-9 years
20%
10-19 years
11%
20 years or more
7%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Credit Analyst, Banking Salaries

▲52%

▲22%

Late-Career
▲16%

National Average
$53,000

▼4%

Skills That Affect Credit Analyst, Banking Salaries

Commercial Loans
▲18%



▼0%

National Average
$53,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 31 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
13%
1-4 years
48%
5-9 years
20%
10-19 years
11%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 81%
vision benefits
Vision: 66%
no benefits
None: 11%
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