What is the Credit Research Analyst Salary?

What is the Credit Research Analyst Salary?

The average salary for a Credit Research Analyst is $94,384 per year in United States, which is 15% lower than the average J.P. Morgan salary of $112,139 per year for this job. What is the salary trajectory of a Credit Research Analyst?

A credit research analyst is responsible for researching an individual’s (or company’s) credit history and financial information to help determine how creditworthy they are. The analyst must look deeply into the personal and financial background of every credit applicant to help the lender determine if the applicant is worth the risk of offering credit or a loan.

The primary task of a credit research analyst is – as the name suggests – to research the applicant. It means gathering and reviewing a lot of information, which includes income statements, balance sheets, and any other pertinent information.

Responsibilities of a Credit Research Analyst

After successfully researching and uncovering an applicant’s pertinent information, the credit research analyst must then compile the numbers. The analysts typically work for banks, financial institutions, and other organizations that loan money or extend lines of credit.

Lenders take into account a variety of factors, including how many loans/lines of credit an applicant has been given, if they have outstanding debt and how much, what type of job they have, and prospects for future income.

Using all the data collected, the credit research analyst must use common analytics and formulas to come up with a basic assessment of overall risk. The process, essentially, provides the lender with the following information:

  • History of loans/lines of credit
  • How quickly/successfully the applicant has repaid debts
  • How much income/financing the applicant has or will have to repay new debts
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The abovementioned information is critical to lenders because it helps them get a better understanding of the applicant and how likely they are to repay debts. The more efficiently an applicant has repaid past debts (in an economical and timely way), the less risky the applicant is considered. If a lender must choose between several applicants, it is most likely to select the applicant with the lowest level of risk.

Do credit analysts make good money?

The average credit analyst salary in the US, as of 2019, is $55,000 annually, and it can differ depending on the industry, company, and state where one is employed. Credit analysts with several years’ experience, industry certifications, and higher education qualifications earn higher salaries than junior analysts.

What does a credit research analyst do?

Credit analysts analyze investments and borrowers’ creditworthiness to determine their potential risk for investors and lenders. They examine financial statements and use ratios when analyzing the financial history of a potential borrower.

How much does a credit analyst make in Australia?

The average credit analyst salary in Australia is $100,000 per year or $51.28 per hour. Entry-level positions start at $84,375 per year, while most experienced workers make up to $133,375 per year.

What degree do you need to be a credit analyst?

Educational Requirements

The minimum educational requirement for the position of credit analyst is usually an associate or bachelor’s degree in finance, accounting, or a related field.

What is the career path for a credit analyst?

The entry-level position for a credit analyst is a junior credit analyst, and they can rise to the level of a credit manager or senior credit analyst. Credit analysts work in banks, credit card companies, and credit rating agencies.

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What skills do you need to be a credit analyst?

Here are the important skills ideal to a credit analyst that may prove highly useful when applying for the job and advancing a career:

  • Accounting skills.
  • Knowledge of industry.
  • Computing skills.
  • Communication skills.
  • Problem-solving.
  • Attention to detail.
  • Documentation and organization skills.
  • Knowledge in risk analysis.

Is credit research a good career?

The credit analyst career may look lucrative, but it comes with a lot of responsibilities and requires hard work. It may, at times, not be easy to compile the huge amount of data and come up with a conclusion. Hence the job may become a bit stressful.

How much do credit assessors get paid?

Credit Assessor Salaries

Job TitleSalary
St.George Bank Credit Assessor salaries – 5 salaries reported$85,000/yr
Westpac Group Credit Assessor salaries – 2 salaries reported$31/hr
ANZ Credit Assessor salaries – 2 salaries reported$65,770/yr
ING Credit Assessor salaries – 2 salaries reported$78,000/yr

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What is a credit salary?

What does salary credit mean? Definition: payroll credit. List of wage or salary payments submitted by an employer to a bank. The total amount of payroll is withdrawn as a single debit from the employer’s bank balance and credited individually to each employee’s account according to the list.

How do I become a credit analyst with no experience?

How to become a financial analyst with no experience

  1. Earn a bachelor’s degree. Most financial analyst positions require you to have at least a bachelor’s degree. …
  2. Earn a financial analyst certification. …
  3. Attend networking events. …
  4. Study industry trends. …
  5. Obtain an internship. …
  6. Develop your skills independently. …
  7. Prepare your resume.
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How much does a credit analyst make UK?

Credit Analyst in London Area Salaries

Job TitleLocationSalary
Bank of America Credit Analyst salaries – 10 salaries reportedLondon Area53,837/yr
Acuris Global Credit Analyst salaries – 8 salaries reportedLondon Area39,567/yr
Moody’s Corporation Credit Analyst salaries – 5 salaries reportedLondon Area61,467/yr

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How do I move up from credit analyst?

Career progression opportunities exist for credit analysts who gain extensive work experience and earn advanced qualifications. For instance, analysts with at least five years’ experience and a master’s degree in finance or business administration can become credit managers.

Why do I want to be a credit analyst?

If you are asked the Why Do You Want to be a Financial Analyst? interview question, there are several points you should cover, including (1) you like dealing with numbers, (2) you enjoy researching and analyzing information, (3) you have high attention to detail, (4) you’re interested in assessing companies’ …

How much does a credit analyst earn in South Africa?

The average credit analyst salary in South Africa is R 5 400 000 per year or R 2 769 per hour. Entry-level positions start at R 420 000 per year, while most experienced workers make up to R 9 000 000 per year.

How much does a credit analyst make in Canada?

The average credit analyst salary in Canada is $46,800 per year or $24 per hour. Entry-level positions start at $38,100 per year, while most experienced workers make up to $74,000 per year.

What is a junior credit analyst?

Junior Credit Analyst Job Description:

Monitor customers’ creditworthiness, obtaining periodical information of their financial status and industrial environment. Meet and call customers for their financial information and report it to the management.