Credit Managers in the United States tend to have a good amount of experience under their belt — nearly two-thirds have more than 10 years in the field. While pay runs from $39K to $94K per year, median earnings come to $61K per year. In the world of Credit Managers, total cash compensation can vary between $39K and $94K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $13K and $10K, respectively. Geography and experience level each impact pay for this group, with the former having the largest influence. The majority of Credit Managers claim high levels of job satisfaction. There are more female Credit Managers who answered the questionnaire than male, making up 63 percent. Medical benefits are awarded to a large number, and a fair number earn dental coverage. The numbers in this rundown were provided by PayScale's salary survey participants.
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$41,146 - $90,261
(Median)
$41K
$61K
$90K
MEDIAN: $61,157
10%
50%
90%

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$12.74 - $25.46
(Median)
$13
$19
$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
$41,146 - $90,261  
   
Bonus
$495.96 - $13,161  
Profit Sharing
$0.00 - $9,620  
Commission
$3,150  
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).
)
$38,597 - $94,283  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 971
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
$12.74 - $25.46  
   
Overtime
$1.53 - $41.43  
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
$495.96 - $13,161  
   
Commission
$3,150  
Profit Sharing
$0.00 - $9,620  
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).
)
$38,597 - $94,283  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 141
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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 do not often transition into VP of Credit roles. The role averages $109K per year. A more common career path for Credit Managers is stepping into the role of National Credit Manager or Accounting Manager.

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Popular Skills for Credit Manager


Survey results imply that Credit Managers deploy a substantial tool kit of skills at work. Most notably, facility with Financial Reporting, Financial Analysis, and People Management are correlated to pay that is significantly above average, leading to increases of 30 percent, 16 percent, and 15 percent, respectively. Those listing Accounts Payable as a skill should be prepared for drastically lower pay. Accounting and Collections 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. Workers in their first five years can expect to earn $49K, but people who have been around for five to 10 years earn a noticeably bigger sum of $58K. Credit Managers bring in $65K after working for 10 to 20 years. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $67K.

Pay Difference by Location

National Average: $59,959

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

For Credit Managers, busy San Jose offers a higher-than-average pay rate, 36 percent above the national average. Credit Managers will also find cushy salaries in Dallas (+34 percent), New York (+29 percent), Houston (+22 percent), and Philadelphia (+18 percent). In Orlando, salaries are 10 percent below the national average and represent the lowest-paying market.

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Experience Affects Credit Manager Salaries



National Average
$60,000



Skills That Affect Credit Manager Salaries

Financial Reporting
up arrow 30%




Credit Control
0%

Customer Relationship Management (CRM)
0%

National Average
$60,000

Microsoft Excel
up arrow 3%




Accounting
up arrow 32%

Accounts Payable
up arrow 33%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 186 votes.

Gender

Female
63 %
Male
37 %

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%
medical benefits
Vision: 59%
dental benefits
None: 13%
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