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Credit Manager Salary (United States)

Credit Managers in the United States with more than 10 years of experience in their profession represent just under two-thirds of Credit Managers. Salaries average out to around $61K annually and spread from $36K to $95K per year. Total cash compensation to Credit Managers approaches anywhere from $36K on the lower end to $95K on the higher end; in exceptional cases, this can include more than $14K from bonuses and upwards of $8K from profit sharing. Location is the biggest factor affecting pay for this group, followed by tenure. Job satisfaction is high and work is enjoyable for most Credit Managers. Women make up a slight majority of Credit Managers (56 percent) survey respondents. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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.
)
$39,849 - $90,780
(Median)
40K
48K
61K
75K
91K
MEDIAN: $60,611
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 - $25.92
(Median)
13
17
21
26
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$32K$64K$96K
Salary
$39,849 - $90,780  
   
Bonus
$0.00 - $14,482  
Profit Sharing
$114.38 - $7,603  
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).
)
$36,203 - $95,204  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 1,260
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$16$32$48
Hourly Rate
$13.16 - $25.92  
   
Overtime
$4.89 - $35.48  
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$32K$64K$96K
Bonus
$0.00 - $14,482  
   
Profit Sharing
$114.38 - $7,603  
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).
)
$36,203 - $95,204  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 195
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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 not commonly seen, Credit Managers who transition into a VP of Credit position may see a rise in pay. The median salary for VPs of Credit is $108K 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 report using a diverse set of skills on the job. Most notably, skills in Financial Analysis, People Management, Risk Management / Risk Control, and Credit Control are correlated to pay that is above average, with boosts between 10 percent and 16 percent. Skills that are correlated to lower pay, on the other hand, include 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.
For Credit Managers, more experience in the field does not usually mean bigger paychecks. Those in the early stages of their career can expect to make around $47K; however, individuals with five to 10 years of experience bring in $57K on average — a distinctly larger sum. On average, Credit Managers make $64K following one to two decades on the job. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $67K.

Pay Difference By Location

San Jose
up arrow 35%
Philadelphia
up arrow 32%
up arrow 29%
up arrow 28%
up arrow 25%
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Atlanta
up arrow 19%
Baltimore
up arrow 16%
up arrow 11%
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0%
National Average
$60,000
up arrow 15%
Salt Lake City
up arrow 15%
Larger circles over a city indicate a job is popular in that location.
For Credit Managers, San Jose provides a pay rate that is 35 percent greater than the national average. Credit Managers can also look forward to large paychecks in cities like Philadelphia (+32 percent), New York (+29 percent), Houston (+28 percent), and Chicago (+25 percent). Falling short of the national average by 15 percent, the area with the worst salaries is Salt Lake City.

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Experience Affects Credit Manager Salaries

National Average
$60,000

Skills That Affect Credit Manager Salaries

National Average
$60,000
Credit Control
up arrow 1%
Microsoft Excel
up arrow 2%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 356 votes.

Gender

Female
56%
female alumni
 
Male
44%
male alumni

Years of Experience

Less than 1 year
1%
1-4 years
16%
5-9 years
19%
10-19 years
33%
20 years or more
31%

Common Health Benefits

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