What does a Credit Analyst do?

Credit analysts assess the credit data and financial statements of individuals or firms to determine any and all potential risk involved in extending credit or lending money to them. They prepare reports with credit information for use of informed decision-making by the financial institutions where they work.

Credit analysts compile the applicant’s financial records and information to make knowledgeable recommendations on whether to extend them credit. If they are preparing a portfolio recommendation to an individual investor, a credit analyst will take their past financial statements and credit history and combine the information with the current health of their lines of credit. Credit analysts also enter, update, and retrieve information for credit applications to determine the applicant's worthiness. They designate the risk involved when extending credit by performing cash flow analysis and ensure the approved applications are in compliance with firm and lender criteria and regulations. They keep abreast of financial news and trends and ensure they are up-to-date on due diligence to ensure quality. Credit analysts need a bachelor’s degree in finance, accounting, or a related subject.

null null

Average Years of Experience

0 - 1
23%
2 - 4
45%
5 - 7
18%
8+
14%

Common Skill Sets

Microsoft Office Suite
Excellent Organizational
Excellent Communication
Written Communication
Problem Solving
Attention To Detail
Microsoft EXCEL
Spreadsheets

Credit Analyst Seniority Levels

L2
Credit Analyst
$55,531/yr
Financial Analyst
8% made the transition
Credit Manager
40% made the transition
See Career Path

Credit Analyst Salaries

Average Base Pay

$55,531 /yr
Same as national average
Not including cash compensation
See More Insights
$38K
Median: $56K
$80K
See More Insights
Glassdoor Estimated Salary

Credit Analyst Jobs