Credit Managers in the United States tend to have a good amount of experience under their belt — close to two-thirds have more than 10 years in the field. While pay runs from $39K to $96K per year, median earnings come to $61K annually. Total incomes of Credit Managers incorporate potential for, in a few cases, more than $14K from bonuses and close to $8K from profit sharing; these performance components cause packages to range between $39K and $96K. Location is the biggest factor affecting pay for this group, followed by experience level. For the most part, Credit Managers enjoy their work and report high levels of job satisfaction. Female Credit Managers survey participants are more prevalent than men — 64 percent of professionals. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the larger part. This report is based on answers to PayScale's salary questionnaire.
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$41,402 - $91,343
$41K
$61K
$91K
MEDIAN: $61,332
10%
50%
90%

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$12.90 - $25.27
$13
$19
$25
MEDIAN: $18.91
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
$41,402 - $91,343  
   
Bonus
$498.00 - $14,419  
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).
)
$38,840 - $95,929  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 948
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
$12.90 - $25.27  
   
Overtime
$1.51 - $42.16  
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
$498.00 - $14,419  
   
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).
)
$38,840 - $95,929  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 139

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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 Credit Managers do not often become VPs of Credit, the job pays $109K per year on average. However, becoming a National Credit Manager or Accounting Manager is a more frequent transition for Credit Managers.

Credit Manager Job Listings

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Popular Skills for Credit Manager


Credit Managers report using a deep pool of skills on the job. Lucky workers who know Financial Reporting can expect a significant pay bump, scoring salaries 29 percent above average. Financial Analysis and People Management are also correlated to pay that is above average, with increases between 16 percent and 29 percent. Those listing Accounts Payable as a skill should be prepared for drastically lower pay. Accounting and Collections also typically command lower compensation. Those familiar with Accounts Receivable also tend to know Credit Control.

Pay by Experience Level for Credit Manager

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


For Credit Managers, more experience in the field does not usually mean bigger paychecks. Survey participants with less than five years' experience pocket $49K on average, but those with five to 10 years of experience enjoy a much bigger median of $57K. For Credit Managers, 10 to 20 years of experience on the job amounts to an average salary of $66K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $67K.

Pay Difference by Location

National Average: $60,232

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

Surpassing the national average by 35 percent, Credit Managers in San Jose receive some of the highest pay in the country. Credit Managers can also look forward to large paychecks in cities like New York (+32 percent), Dallas (+24 percent), Houston (+23 percent), and Philadelphia (+18 percent). Trailing the national average by 13 percent, Orlando is the market with the smallest paychecks.

Related Job Salaries

Key Stats for Credit Manager

Gender

Female
64 %
Male
36 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 181 votes.
035
Less than 1 year
1%
1-4 years
15%
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



National Average
$60,000



Skills That Affect Credit Manager Salaries

Financial Reporting
up arrow 29%




Credit Control
0%

Customer Relationship Management (CRM)
0%

National Average
$60,000





Accounting
up arrow 32%

Accounts Payable
up arrow 33%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 181 votes.

Gender

Female
64 %
Male
36 %

Years of Experience

Less than 1 year
1%
1-4 years
15%
5-9 years
18%
10-19 years
36%
20 years or more
30%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 73%
vision benefits
Vision: 59%
dental benefits
None: 13%
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