Salaries For Senior Credit Analyst

The salary of a senior credit analyst in the United States depends on several aspects, which include the work location, educational background of the analyst, and of course experience. Check out some relevant information regarding a senior analyst’s salary.let us know about that the Salaries For Senior Credit Analyst.

Salaries For Senior Credit Analyst

A senior credit analyst in the United States can make $86,586 per year, with an average hourly pay of $41.63. At their entry-level, they can be paid an average salary of $59,000.  As an annual average wage, a senior credit analyst in the United States can easily make  $66,393 after getting some experience.

Senior Credit Analyst Salary

The function of a senior credit analyst is to evaluate credit requests and provide recommendations regarding money borrowings established on the financial data of the companies or of any individual. Their work is to deal with the loan officers and handle the outcomes of risk estimation. They also consult loan procedures.

Required criteria to become a senior credit analyst

If an aspiring candidate chooses to become a senior credit analyst and make a handsome earning, then they need to fulfill the following requirements: 

  • The minimum qualification of a bachelor’s degree in finance, accounting, or a corresponding field. 
  • Several years of work experience are also required for credit or loan evaluation. 

The future aspects of a senior credit analyst

As you gain more experience, you can move up the corporate ladder as a credit manager, credit/collections manager, or portfolio manager.

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Salaries of the Senior Credit Analysts in the popular cities of the US 

How much salary a senior credit analyst can expect depends on his work location. A senior credit analyst can earn the most from popular cities like New York, Los Angeles, Chicago, etc. Check out the list of some of the popular cities with the respective salaries that a senior credit analyst earns from these cities:

  • New York, NY: Expected Salary of $86,096
  • Los Angeles, CA:  Expected Salary of $83,000
  • Chicago, IL:  Expected Salary of $73,336
  • Minneapolis, MN: Expected Salary of $70,119
  • Houston, TX: Expected Salary of $69,562
  • Seattle, WA: Expected Salary of $69,210
  • Atlanta, GA: Expected Salary of $64,081

Popular Employer Salaries for Senior Credit Analysts

The salary for a Senior Credit Analyst can also vary depending on the different employer. As each company has its own terms and conditions for its pay scale policy. Check out the list of top employers with respected salaries provided to their Senior Credit Analyst post:

EmployerSalary
U.S. Bank$88,000
Wells Fargo Bank$80,000
Bank of America Corp.$66,000
Cobank$70,000
Farm Credit$73,000
Expeditors International of Washington, Inc.$65,000
Umpqua Bank$64,000
HSBC Holdings$86,000
J.P. Morgan$73,000
M&T Bank Corp.$76,000

The salary of Senior Credit Analysts depending on the percentiles

The salary of Senior Credit Analysts also varies pivoting on their types of percentile. Various percentile of work results in different salaries for the Senior Credit Analysts. So, check out the list below for the highlights of the salaries depending on the percentile of Senior Credit Analysts post:

  • 10th Percentile: Annual, monthly and hourly salary rates can be $59,000, $4,917, and $28 respectively.
  • 25th Percentile: Annual, monthly, and hourly salary rates can be $70,000, $5,833, and $34 respectively.
  • 75th Percentile: Annual, monthly, and hourly salary rates can be $105,000,  $8,750, and $50 respectively.
  • 90th Percentile:  Annual, monthly, and hourly salary rates can be $126,000, $10,500, and $61 respectively.
  • 10th Percentile: Annual, monthly, and hourly salary rates can be $59,000,  $4,917,  and $28 respectively.
  • Average: Annual, monthly, and hourly average salary rates can be $86,586,  $7,216,  and $42 respectively.

The procedure to boost the payment of a Senior Credit Analyst

To boost his or her earnings, a Senior Credit Analyst needs to maintain some specific skills. Below is the compiled list of the most important skills that a senior credit analyst required to make more money:

1. Maintain credit reports

2. Maintain financial statements of individuals or companies.

3. Maintain a specific loan portfolio for the resume

4. Maintain a credit analysis to evaluate a person’s or company’s capacity to repay their debts.

5. Maintain a good customer service record

6. Enhance the risk management capabilities to the resources and profits of an organization.

8. Enhance the credit risk management capacity

9. Deal with special projects of the organization.

10. Maintain a due diligence process to ensure the authenticity of relevant attributes. 

12. Ensure Compliance to maintain all the standards

13. Maintain credit limits

14. Maintain credit policy to encompass the guidelines that comprise the amount of credit given.  

15. Use and analyze the financial capability of Potential Customers in your resume.

Conclusion

To become a senior credit analyst, an aspiring candidate needs to have a graduate degree in specific subjects like finance, accounts, or any other such field. After gaining several years of work experience with credit or loan evaluation, a credit analyst can make a handsome salary from his/her employer. Also, an experienced Credit Analyst can move up the corporate ladder as a credit manager, portfolio manager, credit or collections manager, etc.

FAQs
  1. Which are the highest paying states for senior credit analyst posts?

Ans.  New York ($122,126), West Virginia ($122,126), New Hampshire ($100,708), and California ($122,126) are the highest-paying states for senior credit analysts post in the United States.

  1. In the United States, what is the average salary earned by an Entry-level Credit Analyst per year?

Ans. The average salary that a Credit Analyst can earn in the United States is $53,124 per year. 

  1. What are the pay scales an entry-level and an experienced Credit Analyst can earn per year?

Ans. The pay scale of an entry-level Credit Analyst post starts at $39,996 per year. Whereas, an experienced senior Credit Analyst post can easily make up to $99,996 per year.

Salaries For Senior Credit Analyst

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