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Day in the Life of Credit Analysts (TEST)
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.
In this career summary, you will find out what the job of A Credit Analyst is about and what it is like.
After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.
Day in the life
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.
Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
Generate financial ratios, using computer programs, to evaluate customers’ financial status.
Consult with customers to resolve complaints and verify financial and credit transactions.
Prepare reports that include the degree of risk involved in extending credit or lending money.
Credit Analysts with little to no experience tend to make between $40250 and $51750 while the more experienced ones make over $95260 per year.
Top 5 paying states
1 of the easiest ways to increase your salary as A Credit Analyst is to move to a higher paying state like NY. Right now, the highest paying states for Credit Analysts are NY, DC, CT, CA and NC.
However a higher pay at NY doesn’t guarantee that you will make more because the living expenses at NY might be 2x higher than where you are currently at now.
3 other factors that can increase your salary as A Credit Analyst is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).
They analyze financial information and prepare financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
They advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients’ assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives.
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Also known as
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