Credit Manager Salary (United States)

Credit Managers in the United States with more than 10 years of experience in their profession represent slightly less than two-thirds of Credit Managers. Salaries average out to around $59,735 annually and spread from $36,088 to $96,742 per year. Residency and career length each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to a solid majority, and most earn dental coverage. Women Credit Managers just slightly outnumber men in the field. The majority of Credit Managers claim high levels of job satisfaction. The figures in this overview are derived from 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  
PayScale
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  
PayScale
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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Credit Managers who assume a position such as a VP of Credit—while uncommon—may get paid an extra $49K per year. The most common career progression for Credit Managers leads to becoming a Collections Manager, which actually results in a pay cut of $11,159. However, many Credit Managers also opt to become a National Credit Manager, a move that typically includes a raise of $10,963.

Credit Manager Job Listings

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Popular Skills for Credit Manager

Credit Managers report using a pretty varied skill set on the job. 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. Skills that are correlated to lower pay, on the other hand, include Accounts Receivable and Collections. The majority of those 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.
Across the entire workforce, experience and pay tend to be weakly linked—those with more experience do not necessarily bring in much higher salaries. Though starting salaries approximate $47K, they climb to $57K after five to 10 years. Between 10 and 20 years, pay reaches $64K. After 20 years in the field, Credit Managers see their salaries growing more slowly, eventually averaging out to $68K. This workforce includes a range of age distribution and is widely spread out: of those who responded, 36 percent have between one and nine years of experience; 32 percent have 10-20 years, and the remaining 31 percent report more than a couple 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.
Philadelphia offers some of the highest pay in the country for Credit Managers, 33 percent above the national average. Other urban areas shelling out big bucks include New York, Minneapolis, Denver, and Houston, where Credit Managers typically earn around 28 percent, 28 percent, 27 percent, and 27 percent more than usual. 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.

Related Job Salaries

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%
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