Credit Manager Salary

With slightly less than two-thirds of Credit Managers in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Credit Managers is $61K per year and can range from $39K on the lower end to $96K per year near the higher end. Total cash compensation for Credit Managers runs from $39K to $96K depending on bonuses that can occasionally exceed $13K and profit sharing that can reach almost $8K. Geographic location and experience level each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Job satisfaction for Credit Managers is high. Women make up the majority of Credit Managers (65 percent) who completed the questionnaire. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$41,534 - $92,077
$42K
$61K
$92K
MEDIAN: $61,286
10%
50%
90%

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$13.02 - $25.27
$13
$19
$25
MEDIAN: $18.86
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$33K$66K$99K
Salary
$41,534 - $92,077  
   
Bonus
$493.56 - $13,050  
Profit Sharing
$0.00 - $8,129  
Commission
$1,200  
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).
)
$38,953 - $96,056  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 878
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$17$34$51
Hourly Rate
$13.02 - $25.27  
   
Overtime
$1.50 - $42.32  
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$50K$100K$150K
Bonus
$493.56 - $13,050  
   
Commission
$1,200  
Profit Sharing
$0.00 - $8,129  
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).
)
$38,953 - $96,056  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 136

Find Out Exactly What You Should Be Paid

United States (change)

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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

  • Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money.
  • Prepare reports with this credit information for use in decision-making.

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 $109K per year. Becoming a National Credit Manager or an Accounting Manager is, however, a more typical career progression for Credit Managers.

Credit Manager Job Listings

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Popular Skills for Credit Manager


Survey results imply that Credit Managers deploy a deep pool of skills on the job. Most notably, facility with Financial Reporting, People Management, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 30 percent, 15 percent, and 14 percent, respectively. Those listing Accounts Payable as a skill should be prepared for drastically lower pay. Accounting and Collections also typically command lower compensation. For most people, competency in Accounts Receivable indicates knowledge of Credit Control.

Pay by Experience Level for Credit Manager

Pay by Experience for a Credit Manager has a positive trend. An entry-level Credit Manager with less than 5 years of experience can expect to earn an average total compensation of $48,000 based on 240 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Credit Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $57,000 based on 276 salaries. An experienced Credit Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $65,000 based on 468 salaries. A Credit Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $67,000 based on 304 salaries.

Pay Difference by Location

National Average: $60,153

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

For Credit Managers, Fort Worth provides a pay rate that is 72 percent greater than the national average. Credit Managers will also find cushy salaries in San Jose (+35 percent), New York (+26 percent), Houston (+25 percent), and Philadelphia (+18 percent). Credit Managers in Dalton make 40 percent less than the national average, proving that location is a major factor in pay. Employers in Greensboro and Indianapolis also lean toward paying below-median salaries (25 percent lower and 4 percent lower, respectively).

Credit Manager Reviews

Q: What is it like working as a Credit Manager?

Credit Manager in Wausau:
"Stress level."
Pros: Although I enjoy working for my employer, it can be stressful trying to. Get people to pay the amount they owe in the terms I set. I have the ability to determine a customer's credit limit and term but it can be difficult when trying to explain to a customer why they did not receive a limit. I enjoy seeing results the most. My favorite time of day is when the mailman arrives with a big pile of checks. I will then go through them and process the deposits. After that, I will check our AR aging summary to see how we are doing.
Cons: Having to listen to customer's try and explain why they cannot pay or will not pay. I hate it when a customer tells me they are sending money only to never see a check arrive. A lot of work done on my end with zero results due to the customer just not wanting pay.

Related Job Salaries

Key Stats for Credit Manager

Gender

Female
65 %
Male
35 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 177 votes.
Less than 1 year
1%
1-4 years
16%
5-9 years
18%
10-19 years
36%
20 years or more
30%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Credit Manager Salaries

▲12%

▲8%

National Average
$60,000

▼5%

▼20%

Skills That Affect Credit Manager Salaries

Financial Reporting
▲30%




Credit Control
▼0%

Customer Relationship Management (CRM)
▼0%

National Average
$60,000




▼7%

Accounting
▼32%

Accounts Payable
▼33%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 177 votes.

Gender

Female
65 %
Male
35 %

Years of Experience

Less than 1 year
1%
1-4 years
16%
5-9 years
18%
10-19 years
36%
20 years or more
30%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 74%
vision benefits
Vision: 60%
no benefits
None: 13%