Credit Analyst, Banking Salary

Pay for Banking Credit Analysts in the United States sits in the ballpark of $47K annually. Including potential for bonuses and profit sharing — peaking near $10K and $5K, respectively — total cash payment to Banking Credit Analysts can bottom out near $31K or peak near $73K depending on individual performance. Experience level is the biggest factor affecting pay for this group, followed by geography. Most report receiving medical coverage from their employers and a large number collect dental insurance. Most Banking Credit Analysts like their work and job satisfaction is high. This report is based on responses to the PayScale salary survey.

$33,414 - $70,050
(Median)
$33K
$47K
$70K
MEDIAN: $47,385
10%
50%
90%

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$12.90 - $20.70
(Median)
$13
$17
$21
MEDIAN: $16.00
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$25K$50K$75K
Salary
$33,414 - $70,050  
   
Bonus
$0.00 - $9,940  
Profit Sharing
$484.79 - $5,432  
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).
)
$30,959 - $72,854  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 280
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$13$26$39
Hourly Rate
$12.90 - $20.70  
   
Overtime
$1.48 - $37.51  
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$26K$52K$78K
Bonus
$0.00 - $9,940  
   
Profit Sharing
$484.79 - $5,432  
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).
)
$30,959 - $72,854  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 63
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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

  • Ensure that approved accounts remain in good standing.
  • Establish terms for approved credit requests.
  • Assess credit risk.
  • Aggregate and evaluate data related to credit and credit risk to support organizational decision-making.

Common Career Paths for Credit Analyst, Banking


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Though it's uncommon, some Banking Credit Analysts move into roles as VPs of Credit, where pay is an average $108K per year. Banking Credit Analysts most often move into positions as Commercial Loan Officers or Commercial Lenders; those groups report median salaries that are $20K higher and $31K higher, respectively.

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Popular Skills for Credit Analyst, Banking


Banking Credit Analysts who responded to the survey indicated only a few skills that they use on the job. Those who have experience with Loan Underwriting, Accounting, and Financial Analysis can expect to be compensated well for these skills. Most people who know Financial Analysis also know Accounting.

Pay by Experience Level for Credit Analyst, Banking

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


Banking Credit Analysts who reported more years of relevant experience also reported higher earnings. The average inexperienced worker's salary is approximately $44K, and people with five to 10 years of experience bring in more at around $51K on average. People with 10 to 20 years of experience make an average of about $54K in this role. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $71K on average.

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Experience Affects Credit Analyst, Banking Salaries

Late-Career
up arrow 56%

Experienced
up arrow 19%


National Average
$46,000


Skills That Affect Credit Analyst, Banking Salaries

Loan Underwriting
up arrow 2%

Accounting
up arrow 1%

Financial Analysis
0%

National Average
$46,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 62 votes.

Gender

Female
30 %
Male
70 %

Years of Experience

Less than 1 year
17%
1-4 years
52%
5-9 years
19%
10-19 years
8%
20 years or more
3%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 80%
medical benefits
Vision: 62%
dental benefits
None: 9%
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