Credit Analyst, Banking Salary

Earnings for Banking Credit Analysts in the United States come in at around $44K annually on average. Total cash compensation for Banking Credit Analysts runs from $29K to $66K depending on bonuses that can occasionally exceed $8K and profit sharing that can reach almost $7K. Geography is the biggest factor affecting pay for this group, followed by career length. Most Banking Credit Analysts survey respondents are men (72 percent). Job satisfaction is high and work is enjoyable for most Banking Credit Analysts. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The numbers in this rundown were provided by PayScale's salary survey participants.

$30,715 - $63,945
(Median)
$31K
$44K
$64K
MEDIAN: $44,028
10%
50%
90%

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$11.83 - $20.65
(Median)
$12
$16
$21
MEDIAN: $16.00
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$23K$46K$69K
Salary
$30,715 - $63,945  
   
Bonus
$0.00 - $8,421  
Profit Sharing
$500 - $7,000  
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).
)
$29,471 - $66,323  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 394
National Hourly Rate 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$13$26$39
Hourly Rate
$11.83 - $20.65  
   
Overtime
$16.22 - $38.68  
National Annualized 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$26K$52K$78K
Bonus
$0.00 - $8,421  
   
Profit Sharing
$500 - $7,000  
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).
)
$29,471 - $66,323  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 85
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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 some Banking Credit Analysts move into positions like VP of Credit (where the average salary is $108K), this progression is not the norm. Banking Credit Analysts moving up in their careers tend to step into positions as Commercial Loan Officers or Commercial Lenders. The median paychecks in those roles are $23K higher and $34K higher, respectively.

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Popular Skills for Credit Analyst, Banking


Banking Credit Analysts usually report a few specific skills. Loan Underwriting and Accounting are considered valuable skills and can increase employee pay by 9 percent and 5 percent, respectively. Those proficient in Financial Analysis are, more often than not, also skilled in Accounting.

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Experience Affects Credit Analyst, Banking Salaries

Experienced
up arrow 20%


National Average
$42,000


Skills That Affect Credit Analyst, Banking Salaries

Loan Underwriting
up arrow 9%

Accounting
up arrow 5%

Financial Analysis
up arrow 3%

National Average
$42,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 104 votes.

Gender

Female
28 %
Male
72 %

Years of Experience

Less than 1 year
17%
1-4 years
56%
5-9 years
18%
10-19 years
6%
20 years or more
3%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 78%
vision benefits Vision: 58% employee benefits None: 8%
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