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Credit Manager Salary (United States)

With slightly less than two-thirds of Credit Managers in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Credit Managers is $61K annually and can range from $36K on the lower end to $97K per year near the higher end. Cash earnings for Credit Managers — including $15K in bonuses and $8K in profit sharing proceeds near the top of the pay scale — generally stretch from $36K to $97K depending on individual performance. Residence is the biggest factor affecting pay for this group, followed by career length. A solid majority enjoy medical while most get dental coverage. Vision coverage is also available to a majority. Women make up a slight majority of Credit Managers (55 percent). Job satisfaction is high and work is enjoyable for most Credit Managers. The information for this snapshot was generated by responses to the PayScale salary survey.
Credit Manager Salary (?
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.
)
$39,783 - $91,988
(Median)
40K
48K
61K
75K
92K
MEDIAN: $60,891
10%
25%
50%
75%
90%
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Credit Manager Salary (?
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.
)
$13.16 - $25.32
(Median)
13
17
21
25
MEDIAN: $17.00
10%
50%
75%
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$33K$66K$99K
Salary
$39,783 - $91,988  
   
Bonus
$0.00 - $14,577  
Profit Sharing
$252.10 - $7,668  
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).
)
$36,088 - $96,742  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 1,208
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$17$34$51
Hourly Rate
$13.16 - $25.32  
   
Overtime
$1.54 - $35.11  
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$50K$100K$150K
Bonus
$0.00 - $14,577  
   
Profit Sharing
$252.10 - $7,668  
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).
)
$36,088 - $96,742  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 189
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Job Description for Credit Manager

A credit manager primarily focuses on collecting money owed to their company, whether it be for some type of service or a particular product. When someone fails to pay the money that is owed, these professionals initiate legal action and potentially take part in the collection process. Further, a credit manager also plays a major role in negotiating payment options, which could include re-structuring payment plans to make them more manageable based on a party's financial capabilities. The credit manager is also responsible for tracking certain accounts and keeping a close eye on those that have gone unpaid for an extended period of time. A credit manager may have different duties depending on the size of the company in which they are employed.
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Credit Manager Tasks
  • Prepare reports with this credit information for use in decision-making.
  • Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money.

Common Career Paths for Credit Manager

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While Credit Managers do not often become VPs of Credit, the job usually pays $109K per year. Becoming a Collections Manager is, more often than not, the most common role that Credit Managers move into when they're ready for the next step in their career. A typical salary for a Collections Manager is $49K. Another frequent advance is for Credit Managers to assume a National Credit Manager role; in this role, workers often take home $71K.

Credit Manager Job Listings

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Popular Skills for Credit Manager

Credit Managers seem to require a number of specific skills. Most notably, facility with People Management, Financial Analysis, and Risk Management / Risk Control are correlated to pay that is significantly above average, leading to increases of 23 percent, 16 percent, and 13 percent, respectively. At the other end of the pay range are skills like Accounts Receivable and Collections. Most people who know Accounts Receivable also know Credit Control.

Pay by Experience Level for Credit Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.
Credit Managers do not generally earn higher incomes from more experience in the field. Salaries of relatively inexperienced workers fall in the neighborhood of $47K, but folks who have racked up five to 10 years see a notably higher median of $57K. Credit Managers with one to two decades of relevant experience report an average salary of approximately $64K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $68K. The range of experience in this workforce varies greatly: 36 percent of respondents have between one and nine years of experience; 32 percent have between 10 and 20 years, and 31 percent boast more than two decades of experience.

Pay Difference By Location

Philadelphia
up arrow 33%
up arrow 28%
up arrow 27%
up arrow 27%
up arrow 25%
Baltimore
up arrow 14%
Miami
up arrow 12%
up arrow 11%
up arrow 9%
up arrow 7%
up arrow 3%
National Average
$60,000
Salt Lake City
up arrow 15%
up arrow 21%
Larger circles over a city indicate a job is popular in that location.
Credit Managers will find that Philadelphia offers an impressive pay rate, one which exceeds the national average by 33 percent. Those in search of high salaries should also consider checking out cities like New York, Minneapolis, Denver, and Houston, top-paying markets where Credit Managers rake in more than the national norm (+28 percent, +28 percent, +27 percent, and +27 percent). Credit Managers in Portland earn salaries far below the national average by 21 percent, proving that geography overwhelmingly affects the pay scale for those in this field.

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Experience Affects Credit Manager Salaries

National Average
$60,000

Skills That Affect Credit Manager Salaries

People Management
up arrow 23%
Credit Control
0%
National Average
$60,000
Microsoft Excel
up arrow 2%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 367 votes.

Gender

Female
55%
female alumni
 
Male
45%
male alumni

Years of Experience

Less than 1 year
1%
1-4 years
17%
5-9 years
19%
10-19 years
32%
20 years or more
31%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 74%
vision benefits Vision: 58% employee benefits None: 11%