How To Become A Credit Analyst: Degree and Education Requirements

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what degree do you need to become a Credit Analyst
majors for Credit Analysts

Credit Analysts

Other names for this job might include Analyst, Credit Administrator, Credit Analyst, Credit and Collections Analyst, Credit Assessment Analyst, Credit Manager, Credit Negotiator, Credit Representative, Credit Risk Analyst, Credit Specialist


  • $79720
    Salary
  • 70%
    Job satisfaction
  • Quite Hard
    Becoming one
  • Medium
    Job growth
OwlGuru Rank

B+



Be A Credit Analyst: What You Really Need


In this requirements guide for Credit Analysts, you will find out what do you need to become a Credit Analyst and what it takes to become one.

After reading this, you will be able to plan for your future if you want to be a Credit Analyst.



Degree required

Recommended degree level

Bachelor’s Degree

Bachelors degree
50%

Associates degree
26.67%

High School Diploma
6.67%

Certificate
6.67%

Some college courses
6.67%

Generally, employers are looking for Credit Analysts who have a Bachelors degree. They also prefer someone who is good in Critical Thinking and Active Learning.

1 common question that we always get is what major or degree do I need to become A Credit Analyst or what courses do I need to take.

We did a survey to ask other Credit Analysts what did they major in college or university and here are the most popular majors that came up.

Accounting
Finance, General
Credit Management



Schools

schools for Credit Analysts

Interested in becoming A Credit Analyst? Find the right schools that can help you to become one. You will need some of your details to get you matched with the right college or university. This service is free thanks to our sponsors.

Questions to ask the university or college:

  1. How many students are in the program?
  2. Is your program accredited?
  3. How many faculty members do you have? Do they hold the right credentials?
  4. What is your job placement rate?
  5. Does your school hold career fairs or other on-campus events with employers? How many employers typically attend?
  6. How many of your students have at least one internship by graduation?

Click to start becoming a Credit Analyst




How long does it take

Difficulty
Quite Hard

You will need a considerable amount of work-related skill, knowledge or experience to be A Credit Analyst.

For example: An accountant must complete 4 years of college and work for several years in accounting to be considered qualified.

To become A Credit Analyst, you will need several years of work-related experience, on-the-job training or vocational training.


How long does it take
2 to 4 years


Work experience
2 to 4 years

2 to 4 years
53.33%

1 to 2 years
20%

No experience
13.33%

6 months to 1 year
6.67%

4 to 6 years
3.33%

Job training
1 to 3 months

1 to 3 months
33.33%

0 to 1 month
23.33%

3 to 6 months
13.33%

6 months to 1 year
13.33%

1 to 2 years
6.67%

Most Credit Analysts have 2 to 4 years work experience and 1 to 3 months job training.

To increase your chances of getting a job, you can look for job training while studying to be one.



License and certifications

Do you need any license or certification
Recommended but not required


The Financial Industry Regulatory Authority (FINRA) is the main licensing organization for the securities industry. It requires licenses for many Credit Analysts positions. Most of the licenses require sponsorship by an employer, so companies do not expect individuals to have these licenses before starting a job.



Skills required

We asked other Credit Analysts if they could only have 5 skills, what would they be. Here is what they said.

1. Critical Thinking what does this mean
2.Active Learning what does this mean
3.Reading Comprehension what does this mean
4.Active Listening what does this mean
5.Speaking what does this mean
= Hot in-demand that most employers are looking for

We did some research and found that most successful Credit Analysts have these 5 common characteristics. Most of them had Integrity and Attention to Detail.

1.Integrity
2.Attention to Detail
3.Analytical Thinking
4.Dependability
5.Self Control




Knowledge required

Just like any other job, you will need some know-hows to do the job. To become a successful Credit Analysts you need to acquire knowledge in these 5 key areas.

1. Economics and Accounting what does this mean
2.English Language what does this mean
3.Mathematics what does this mean
4.Customer and Personal Service what does this mean
5.Clerical what does this mean

As A Credit Analyst, you may also be required to know how to use certain Information retrieval or search software, Financial analysis software and Financial analysis software tools.

CGI-AMS BureauLink Enterprise (Information retrieval or search software)
CGI-AMS CACS Enterprise (Financial analysis software)
CGI-AMS Strata (Financial analysis software)
Credit adjudication and lending management system CALMS software (Document management software)
Credit and risk analysis software (Financial analysis software)
= Hot in-demand that most employers are looking for




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Career type

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Business Financial Management and Accounting
Banking and Related Services, Financial and Investment Planning

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Related to Credit Analysts Requirements

Credit Analysts requirements, how to become Credit Analysts, degree required to be a Credit Analyst, Credit Analysts license and certifications, majors to be a Credit Analyst, is it hard to become a Credit Analyst and how long does it take

Additional resources

http://www.bls.gov/oes/current/oes132041.htm

OwlGuru.com
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Credit Analysts
Written by: Stanley Tan
Credit Analysts analyze 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 credit information for use in decision making.
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