DETAILED OCCUPATION DATA
13-2041 Credit Analysts
Occupational Description:
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. Excludes "Financial Risk Specialists" (13-2054).| Percentiles | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Geography | Employment | Emp SE* | Mean | Mean SE* | 10th | 25th | Median | 75th | 90th |
| Southwest Minnesota | 130 | 19 | $31.75/hr | $1.20/hr | $21.17/hr | $24.27/hr | $29.47/hr | $36.59/hr | $45.52/hr |
| Minnesota | 2,080 | 144 | $39.30/hr | $0.94/hr | $24.36/hr | $29.02/hr | $36.21/hr | $46.80/hr | $60.08/hr |
| U S | 73,930 | 1,626 | $41.21/hr | $0.45/hr | $21.08/hr | $26.85/hr | $35.74/hr | $49.43/hr | $70.77/hr |
| *SE = Standard error, a measure of the statistical reliability of the estimate. | |||||||||
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| Occupation (click title for details) | OES | Projections | |
|---|---|---|---|
| Employment | Median Wage | % Change 2020 - 2030 | |
| Accountants and Auditors | 970 | $29.79/hr | 4.2% |
| Cost Estimators | 200 | $31.30/hr | 1.4% |
| Insurance Underwriters | 40 | $25.22/hr | -3.7% |
| Tax Preparers | N/A | $26.20/hr | N/A |
| Personal Financial Advisors | N/A | $38.46/hr | -4.2% |
Tasks for Credit Analysts
- Analyzes credit data and financial statements to determine degree of risk involved in extending credit or lending money.
- Reviews individual or commercial customer files to identify and select delinquent accounts for collection.
- Consults with customers to resolve complaints and verify financial and credit transactions and adjust accounts as needed.
- Confers with credit association and other business representatives to exchange credit information.
- Generates financial ratios, using computer program, to evaluate customer's financial status.
- Compares liquidity, profitability, and credit history with similar establishments of same industry and geographic location.
- Completes loan application, including credit analysis and summary of loan request, and submits to loan committee for approval.
- Evaluates customer records and recommends payment plan based on earnings, savings data, payment history, and purchase activity.
- Analyzes financial data, such as income growth, quality of management, and market share to determine profitability of loan.
