Credit Analyst Salary


How Much Does a Credit Analyst Make?

On average, a Credit Analyst make $84,930 a year. The lowest-paid 10 percent made $43,430, while the top-paid 10 percent made $145,840.

Annually National Average Salary: $84,930

$43K
$55K
$84K
$101K
$145K
10%
25%
50%
75%
90%

* Based on information from the May 2019 salary report from the BLS.



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Salary by State

  • Annually
  • Monthly
  • Hourly

Annual Salary by State

State10% Annual25% AnnualAvg. Annual75% Annual90% Annual
Alabama$42,380$55,190$82,030$98,620$127,880
Arizona$40,900$45,510$64,700$76,650$102,840
Arkansas$34,840$40,820$58,750$69,490$84,660
California$46,530$62,180$91,050$112,320$151,770
Colorado$49,420$58,900$87,410$103,070$154,830
Connecticut$47,190$59,760$94,460$106,630$166,750
District of Columbia$58,540$71,200$105,010$135,450$164,820
Florida$43,950$55,540$81,130$97,180$135,600
Georgia$32,150$46,450$70,540$82,200$111,070
Hawaii$47,350$58,240$82,180$97,990$135,810
Idaho$39,210$44,630$61,670$75,700$103,040
Illinois$43,130$53,560$79,230$88,360$139,230
Indiana$36,320$43,600$61,980$73,590$100,860
Iowa$45,210$55,500$79,310$97,690$124,980
Kansas$42,000$50,150$65,700$75,200$100,110
Kentucky$40,390$52,460$77,660$97,520$127,180
Louisiana$32,980$41,840$61,770$79,770$97,400
Maine$42,660$52,210$73,220$88,970$114,980
Massachusetts$54,270$65,980$93,570$112,810$154,080
Michigan$41,070$51,410$65,800$75,660$88,690
Minnesota$50,190$59,800$80,980$96,430$123,810
Mississippi$33,900$38,400$59,770$75,000$97,400
Missouri$43,660$52,640$82,850$102,270$153,710
Montana$44,990$58,240$81,380$99,690$127,700
Nebraska$44,920$52,640$69,300$81,600$99,520
Nevada$43,550$50,390$71,900$84,390$108,110
New Hampshire$52,430$64,330$83,830$100,550$126,240
New Jersey$52,830$62,190$88,940$112,280$137,190
New Mexico$44,240$51,870$67,180$76,380$88,940
New York$57,550$74,210$123,470$157,500$206,980
North Carolina$47,000$57,460$87,150$109,510$143,790
North Dakota$44,490$50,320$71,240$85,810$104,050
Ohio$44,560$54,590$78,250$95,620$122,130
Oklahoma$35,070$40,770$59,680$71,230$95,970
Oregon$45,820$56,260$75,240$89,540$104,990
Pennsylvania$46,520$58,820$85,440$103,200$139,390
Rhode Island$54,600$60,830$76,540$86,680$109,490
South Carolina$40,230$48,370$68,420$80,910$107,360
South Dakota$42,830$50,230$63,920$75,530$93,860
Tennessee$35,830$43,200$66,540$77,580$108,390
Texas$42,570$54,190$78,020$90,350$128,140
Utah$34,060$38,770$58,870$69,060$97,670
Vermont$42,100$48,520$70,260$78,880$126,590
Virginia$41,550$62,800$87,810$111,500$141,360
Washington$48,510$57,900$79,860$95,150$121,460
West Virginia$37,180$45,470$61,860$70,930$99,600
Wisconsin$38,960$46,980$70,370$84,690$104,730
Wyoming$38,430$47,560$59,660$70,880$79,320
Puerto Rico$21,720$26,760$37,860$45,080$64,090

Annual Average Salary: Top 5 States

The top earning state in the field is New York, where the average salary is $123,470.

These are the top 5 earning states in the field:

New York - $123,470
District of Columbia - $105,010
Connecticut - $94,460
Massachusetts - $93,570
California - $91,050

Credit Analysts: Salary Overview

Credit analysts analyze financial statements or other data of individuals and firms to determine the risk associated with extending credit or lending money.

They also prepare reports that are used in deciding whether or not to lend money to the individual or company.

According to the Bureau of Labor Statistics, the average annual wage for credit analysts was $84,930 as of May 2019.

Salaries in this field vary widely depending on a variety of factors, including the analyst’s level of experience, the region of employment, and the employer.

The lowest 10 percent earned less than $43,430 a year while the highest 10 percent earned more than $145,840.

The median salary was $73,650 a year, meaning that 50% of all credit analysts earned less than this amount while 50% earned more.

Credit Analyst Salary by Industry

According to BLS, credit analysts held about 73,930 jobs in May 2019, most of them being employed by companies that provided credit intermediation and related activities or by businesses that provide nondepository credit intermediation.

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Credit analysts who worked for companies that provide credit intermediation and related activities earned a mean annual wage of $83,490 while those who were employed by companies that provide nondepository credit intermediation earned, on average, $80,560 a year.

Companies that provide management of companies and enterprises services had around 9,320 credit analysts on their payroll and offered a mean annual wage of $89,040 a year.

The highest average salary was earned by credit analysts who worked for companies that provide financial investment and related activities.

There were a little over 6,100 credit analysts employed in this field and they earned, on average, $119,220 a year.

Credit analysts who worked for monetary authorities such as the Central Bank were paid, on average, with $105,410 while those who were employed by companies that provide business support services earned a mean annual wage of $90,840.

Credit Analyst Salary by Compensation Structure

Credit analysts are typically paid a fixed salary plus commissions, bonuses, and profit-sharing.

According to a report published by payscale.com in May 2020, credit analysts earn, on average, $2,945 a year in bonuses but the earnings vary depending on many factors, including their role in the company, their level of experience, and their employer.

Credit analysts can earn anywhere between $515-$10,000 a year in bonuses.

They may make even more than this in commissions.

According to payscale.com, on average, credit analysts earned $4,300 a year in commissions but the commission earnings can be anywhere between $2,000 and $35,000 per year.

Credit analysts may also make between $299-$5,000 a year in profit sharing, according to the same report.

All these benefits can supplement a credit analyst’s salary with tens of thousands of dollars a year; it all depends on the credit analyst’s level of experience and the compensation package that has been negotiated with the employer.

According to the report published by payscale.com, an entry-level credit analyst with less than 1 year of experience may earn an average total compensation of $45,684 a year while credit analysts with more than 20 years of experience in the field can expect to earn, on average, total compensation of $57,727 a year.

Many credit analysts also receive medical, dental, and vision insurance.

In conclusion, this profession can be financially rewarding, especially if you’re passionate about finances and banking.

However, salaries for credit analysts vary widely and some of them earn more than $100,000 a year while others make a total annual wage of a little over $40,000.

The good news is that many employers offer commissions, bonuses, and profit-sharing to reward the most efficient credit analysts.

If you’re a hard-working person who’s good with numbers, communicates well, and has people skills, these benefits can substantially supplement your annual earnings.

* Based on information from the May 2019 salary report from the BLS. The figures represent accumulated data for all states of employment for Credit Analysts. BLS data represents averages and medians for workers at all levels of education and experience. This data doesn't represent starting salaries.

* Employment conditions in your area may vary.


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