What am I worth?
Get a free salary report »
What should I pay?
Pay the right way »

Credit Manager Salary

Credit Managers in the United States tend to have a good amount of experience under their belt — just under two-thirds have more than 10 years in the field. While pay runs from $36K to $96K per year, median earnings come to $61K per year. Including potential for bonuses and profit sharing — peaking near $15K and $7K, respectively — total cash payment to Credit Managers can bottom out near $36K or peak near $96K depending on individual performance. Location and career length each impact pay for this group, with the former having the largest influence. The majority of Credit Managers claim high levels of job satisfaction. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 56 percent. This report is based on responses to the PayScale salary survey.
Read More
$40,022 - $90,481
(Median)
$40K
$61K
$90K
MEDIAN: $61,115
10%
50%
90%

Add this chart to your site: 640px    300px

$13.21 - $25.59
(Median)
$13
$18
$26
MEDIAN: $17.00
10%
50%
90%

Add this chart to your site: 640px    300px

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
$40,022 - $90,481  
   
Bonus
$0.00 - $14,693  
Profit Sharing
$102.13 - $7,450  
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).
)
$36,418 - $95,517  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 1,354
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
$13.21 - $25.59  
   
Overtime
$4.89 - $35.51  
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 - $14,693  
   
Profit Sharing
$102.13 - $7,450  
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).
)
$36,418 - $95,517  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 212

Find Out Exactly What You Should Be Paid

United States (change)

- OR -

Log in with LinkedIn

Comp Managers Click Here »

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.

Read More...

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


Add this chart to your site:   640px 640px    300px 300px


For Credit Managers, progressing to a VP of Credit role may result in a significant raise. On average, a VP of Credit can earn $108K annually. 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 median 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

Search for more jobs:

Popular Skills for Credit Manager


Survey results suggest that Credit Managers put a wide range of professional skills to use. 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 11 percent and 17 percent. Those listing Accounting as a skill should be prepared for drastically lower pay. Accounts Payable and Accounts Receivable also typically command lower compensation. Most people experienced in 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. Although individuals who have less than five years' experience earn $47K on average, people with five to 10 years benefit from a notably larger average of $57K. After working for 10 to 20 years, Credit Managers make a median salary of $64K. People who have worked for more than 20 years report a median income of $67K, which is barely higher than the median for folks with 10 to 20 years of experience.

Pay Difference by Location


With a pay rate for Credit Managers that is 29 percent greater than the national average, Houston offers a comfortable salary for those in this profession. Credit Managers will also find cushy salaries in New York (+28 percent), Denver (+26 percent), Chicago (+26 percent), and Philadelphia (+26 percent). In Portland, salaries are 15 percent below the national average and represent the lowest-paying market. Two other places where employers offer below-median salaries are Phoenix (7 percent less) and Salt Lake City (6 percent less).

Related Job Salaries

United States (change)

Experience Affects Credit Manager Salaries



National Average
$60,000



Skills That Affect Credit Manager Salaries




National Average
$60,000

Credit Control
up arrow 2%

Microsoft Excel
up arrow 2%



Accounts Payable
up arrow 32%

Accounting
up arrow 32%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 368 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

Less than 1 year
1%
1-4 years
15%
5-9 years
19%
10-19 years
33%
20 years or more
32%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 73%
vision benefits Vision: 57% employee benefits None: 11%