Credit Manager Salary

Around two in three of Credit Managers in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $37K to $95K per year, and the average comes out to $62K annually. Total cash compensation for Credit Managers runs from $37K to $95K depending on bonuses that can occasionally exceed $15K and profit sharing that can reach almost $8K. Geographic location is the biggest factor affecting pay for this group, followed by career duration. Medical benefits are awarded to most, and a strong majority earn dental coverage. For the most part, Credit Managers enjoy their work and report high levels of job satisfaction. Women Credit Managers who took the survey just slightly outnumber men. This report is based on answers to PayScale's salary questionnaire.
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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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There are some Credit Managers — though it's uncommon — that transition into VPs of Credit, where earnings are an average $108K annually. A more likely transition for Credit Managers is National Credit Manager or Accounting Manager.

Credit Manager Job Listings

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Popular Skills for Credit Manager


Credit Managers generally report applying a varied skill set 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. For most people, competency in Accounts Receivable indicates knowledge of Credit Control.

Pay by Experience Level for Credit Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.


For many Credit Managers, extensive experience does not lead to significantly more money. Although individuals who have less than five years' experience earn $48K on average, people with five to 10 years benefit from a notably larger average of $58K. Credit Managers see a median salary of $65K after reaching one to two decades on the job. More than 20 years of experience mean a somewhat bigger median paycheck of $68K, but it's not much more than what less experienced people make.

Pay Difference by Location

National Average: $60,646

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

Denver is home to an above-average pay rate for Credit Managers, 28 percent higher than 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). Falling short of the national average by 7 percent, the area with the worst salaries is Portland.

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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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