Credit Manager Salary

Credit Managers in the United States with more than 10 years of experience in their profession represent about two-thirds of Credit Managers. Salaries average out to around $62K annually and spread from $37K to $95K per year. Overall cash earnings for Credit Managers stretch from $37K on the lower end to $95K near the top, and the heftiest packages can encompass around $15K from bonuses and $8K from profit sharing. Geography is the biggest factor affecting pay for this group, followed by tenure. Medical benefits are awarded to most, and a strong majority earn dental coverage. The majority of Credit Managers claim high levels of job satisfaction. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 58 percent. The data in this summary comes from the PayScale salary survey.
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$40,410 - $90,795
(Median)
$40K
$62K
$91K
MEDIAN: $61,810
10%
50%
90%

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$13.10 - $25.38
(Median)
$13
$18
$25
MEDIAN: $18.00
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$32K$64K$96K
Salary
$40,410 - $90,795  
   
Bonus
$0.00 - $14,653  
Profit Sharing
$0.00 - $7,567  
Commission
$300.00  
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).
)
$36,883 - $95,460  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,614
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$16$32$48
Hourly Rate
$13.10 - $25.38  
   
Overtime
$1.49 - $35.43  
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$32K$64K$96K
Bonus
$0.00 - $14,653  
   
Commission
$300.00  
Profit Sharing
$0.00 - $7,567  
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).
)
$36,883 - $95,460  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 248
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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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Credit Managers do not often transition into VP of Credit roles. The role averages $108K per year. However, Credit Managers typically graduate to National Credit Managers or Accounting Managers.

Credit Manager Job Listings

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Popular Skills for Credit Manager


Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in People Management, Financial Analysis, Risk Management / Risk Control, and Credit Control are correlated to pay that is above average, with boosts between 12 percent and 19 percent. Those listing Accounts Payable as a skill should be prepared for drastically lower pay. Accounting and Accounts Receivable also typically command lower compensation. Most people familiar with 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.


More years of relevant experience do not necessarily translate to higher paychecks. Respondents with less than five years' experience take home $48K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $58K. Credit Managers bring in $65K after working for 10 to 20 years. Credit Managers who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $68K.

Pay Difference by Location

National Average: $60,646

Larger city markers indicate a job is popular in that location.

Denver offers some of the highest pay in the country for Credit Managers, 28 percent above the national average. Credit Managers can also look forward to large paychecks in cities like Chicago (+26 percent), Houston (+24 percent), New York (+23 percent), and Dallas (+20 percent). Portland ranks last in the field for pay, reporting salaries 7 percent below the national average.

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Experience Affects Credit Manager Salaries



National Average
$61,000



Skills That Affect Credit Manager Salaries




National Average
$61,000

Credit Control
up arrow 1%

Microsoft Excel
up arrow 2%



Accounting
up arrow 33%

Accounts Payable
up arrow 34%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 380 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
1%
1-4 years
14%
5-9 years
19%
10-19 years
34%
20 years or more
32%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 73%
medical benefits
Vision: 58%
dental benefits
None: 11%
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