Credit Analysts
SOC code 13-2041 · O*NET-SOC 13-2041.00 · Considerable preparation needed · Business and finance
Credit Analysts pay
U.S. national figures, May 2025 BLS survey · How we got this number
Median pay
$83,510
a year
Hourly
$40.15
per hour
The solid band is the middle 50% of workers; the bar spans the 10th to 90th percentile.
Average pay
$100,850
$48.49 per hour
Middle 50%
$65,210 – $122,460
25th to 75th percentile
Full spread
$56,250 – $169,230
10th to 90th percentile
People employed
64,390
nationwide
National U.S. figure, May 2025. Local pay can be higher or lower.
- 10th percentile
- $56,250
- $27.04/hr
- 25th percentile
- $65,210
- $31.35/hr
- Median percentile
- $83,510
- $40.15/hr
- 75th percentile
- $122,460
- $58.88/hr
- 90th percentile
- $169,230
- $81.36/hr
What does a credit analyst do?
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 decisionmaking.
The tasks that matter most day to day
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
- Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
- Generate financial ratios, using computer programs, to evaluate customers' financial status.
- Prepare reports that include the degree of risk involved in extending credit or lending money.
- Analyze financial data, such as income growth, quality of management, and market share to determine expected profitability of loans.
- Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
- Contact customers to collect payments on delinquent accounts.
- Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
How to become a credit analyst
Most people in this role hold bachelor's degree — 95% of workers surveyed reported it as their level of education.
Preparation level: zone 4 — Considerable preparation needed
- Education
- Most of these occupations require a four-year bachelor's degree, but some do not.
- Experience
- A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
- Training
- Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Education reported by people doing this job
- Bachelor's Degree95%
- Master's Degree5%
Common questions
How much does a credit analyst earn?
The national median is $83,510 a year. The full range runs from $56,250 at the 10th percentile to $169,230 at the 90th — entry pay sits closer to the lower figure, and experience, licensing and specialisation move you up the range.
Can you become a credit analyst without a degree?
Not usually — this occupation sits in preparation zone 4, where the typical entry route is most of these occupations require a four-year bachelor's degree, but some do not. The education breakdown above shows what people in the role actually reported.
Skills and knowledge you need
Core skills
- Critical Thinking3.9/5
- Reading Comprehension3.6/5
- Speaking3.6/5
- Active Learning3.6/5
- Active Listening3.5/5
- Mathematics3.4/5
- Writing3.1/5
- Monitoring3.0/5
Knowledge areas
- Economics and Accounting4.5/5
- Mathematics3.9/5
- English Language3.9/5
- Law and Government3.3/5
- Administrative3.0/5
- Customer and Personal Service2.9/5
- Computers and Electronics2.9/5
- Administration and Management2.8/5
Transferable strengths: Judgment and Decision Making, Social Perceptiveness.