Credit Analyst, Banking Salary

Median pay for Banking Credit Analysts in the United States is around $44K annually. Final cash compensation to Banking Credit Analysts varies from around $30K to approximately $65K; choice pay grades include potential for bonuses and profit sharing as high as $9K and $7K, respectively. Geography is the biggest factor affecting pay for this group, followed by career length. Job satisfaction is reported as high by the vast majority of workers. Medical benefits are awarded to most, and a strong majority earn dental coverage. Respondents to the PayScale salary survey provided the data for this report.

$31,113 - $62,526
(Median)
$31K
$44K
$63K
MEDIAN: $44,069
10%
50%
90%

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$11.90 - $21.13
(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$22K$44K$66K
Salary
$31,113 - $62,526  
   
Bonus
$0.00 - $9,167  
Profit Sharing
$504 - $6,787  
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).
)
$29,840 - $64,803  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 505
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
$11.90 - $21.13  
   
Overtime
$16.40 - $38.51  
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 - $9,167  
   
Profit Sharing
$504 - $6,787  
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).
)
$29,840 - $64,803  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 99

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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 not the most common occurrence, Banking Credit Analysts sometimes become VPs of Credit, where the average income is $108K per year. 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


Job skills reported by Banking Credit Analysts are limited. Loan Underwriting and Accounting are considered valuable skills and can increase employee pay by 8 percent and 4 percent, respectively. The majority of those who know Financial Analysis also know Accounting.

Related Job Salaries

United States (change)

Experience Affects Credit Analyst, Banking Salaries


Experienced
up arrow 17%

National Average
$43,000


Skills That Affect Credit Analyst, Banking Salaries

Loan Underwriting
up arrow 8%

Accounting
up arrow 4%

Financial Analysis
up arrow 1%

National Average
$43,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 153 votes.

Gender

Female
30 %
Male
70 %

Years of Experience

Less than 1 year
16%
1-4 years
58%
5-9 years
19%
10-19 years
6%
20 years or more
2%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 80%
vision benefits Vision: 59% employee benefits None: 8%