Credit Manager Salary

The average salary for a Credit Manager is $61,286 per year. The skills that increase pay for this job the most are Financial Reporting, People Management, and Financial Analysis.
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$42,403 - $92,049
$42K
$63K
$92K
MEDIAN: $62,581
10%
50%
90%

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$13.61 - $25.94
$14
$19
$26
MEDIAN: $19.20
10%
50%
90%

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$0$96K
Salary $42,403 - $92,049
Bonus $347.65 - $14,105
Profit Sharing $0.00 - $8,312
Commission $5,932
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).
)
$39,329 - $96,299
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 936
Hourly Data $0$35
Hourly Rate $13.61 - $25.94
Overtime $11.84 - $35.65
Annual Data $0$96K
Bonus $347.65 - $14,105
Commission $5,932
Profit Sharing $0.00 - $8,312
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).
)
$39,329 - $96,299
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 161

Find Out Exactly What You Should Be Paid

United States (change)

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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Credit Manager Job Listings

Popular Skills for Credit Manager

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: $60,864

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

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.

Credit Manager in Muncie:
"Demanding."
Pros: The interaction with different people.
Cons: Collections and many different goals.

Credit Manager in Atlantic City:
"Life?!"
Pros: On the job training. Benefits. Coworkers. Upper management involvement. Culture.
Cons: Shift worked. Smoking.

Credit Manager in Dallas:
"Keeps me very busy."
Pros: Its close to Home.
Cons: The male Owner - Dave Cossu.

Related Job Salaries

Key Stats for Credit Manager

Gender

Female
64 %
Male
36 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 262 votes.
Less than 1 year
1%
1-4 years
16%
5-9 years
16%
10-19 years
34%
20 years or more
33%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Credit Manager Salaries

▲11%

▲7%

National Average
$61,000

▼6%

▼20%

Skills That Affect Credit Manager Salaries

Financial Reporting
▲28%




National Average
$61,000

Credit Control
▼1%

Customer Relationship Management (CRM)
▼1%




▼8%

Accounting
▼33%

Accounts Payable
▼34%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 262 votes.

Gender

Female
64 %
Male
36 %

Years of Experience

Less than 1 year
1%
1-4 years
16%
5-9 years
16%
10-19 years
34%
20 years or more
33%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 73%
vision benefits
Vision: 60%
no benefits
None: 14%
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