How to become a credit analyst
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.
Steps to get there
Most employers expect most of these occupations require a four-year bachelor's degree, but some do not..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.
What credit analysts do
- 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.
Skills that matter most
- Critical Thinking
- Reading Comprehension
- Speaking
- Active Learning
- Active Listening
- Mathematics
- Writing
- Monitoring
Is credit analyst a good career?
On the numbers, this job pays above the typical job. Median pay is 64% above the all-occupation median. Whether it fits you depends on the work itself, the schooling you are willing to do and where you want to live.
Where it pays most
- New York $133,270
- District of Columbia $132,590
- Virginia $102,430
- New Jersey $100,940
- Hawaii $98,900
Credit Analysts salary by state and city
Sources: O*NET® 31.0 (CC BY 4.0, USDOL/ETA) and BLS Employment Projections 2025–35. Pay: BLS OEWS May 2025.