Work toward a credit analyst career after earning a finance degree

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Business students can choose between plenty of finance degree career options. If they aren’t sure what role to pursue, they might consider the different duties, work environments, and business functions of different options. One such occupation is the credit analyst career path. Learn more about this profession and how to join it below.

Credit analyst working through pile of paperwork

Credit analyst job duties

Credit analysts analyze consumer and business loan applicant credit and other financial information. This helps them determine the risk a bank or other lender will take when investing in various borrowers. The risk level determines whether a prospective borrower receives approval for a loan, as well as the interest rate and other terms associated with the loan. Credit analysts will then create reports that track the borrower’s lending process to make determinations on credit and risk assessment that can affect future business.

Although the credit analyst role is highly analytical, it is also a client-facing position. This role requires plenty of screen time, reporting, and reading financial data, but it also involves a lot of time spent on the phone and in meetings. These professionals work with a variety of individuals and institutions, including credit associations, lenders, and prospective borrowers.

Typical work environments

This expertise is necessary in many industries, and credit analysts fill important roles in a variety of environments. Some of the most popular areas employing credit analysts include:

  • Banks
  • Management enterprises
  • Financial investment firms
  • Real estate lessors
  • Insurance agencies and brokerages
  • Corporation credit departments

Credit analysts can expect many opportunities for career growth. With their knowledge of the financial industry, they may have the skills to move into leadership positions, such as chief executive or financial officer.

How to become a credit analyst

This career requires an advanced education, almost always in the form of a bachelor’s degree. A finance program can set you on the right path to becoming a credit analyst, providing you with the courses necessary to gain insight on financial practices across different industries. Employers often recommend certification, which can improve the chances for advancement.

Employment outlook

The U.S. Bureau of Labor Statistics projected that careers as credit analysts across many industries will rise 6% between 2014 and 2024. This reflects a steady employment increase that reflects the average growth of all occupations during this 10-year period.

Salary potential

As is a trend with many careers in finance, credit analysts can secure above average salaries throughout their careers. While the job’s setting and geographical location have a large impact on career estimates in this field, professionals across the country can expect a salary that exceeds the local median. According to the BLS, the median salary for credit analysts is $71,520. The 10th percentile of individuals in this career earn a median of $43,100, while the 90th percentile earn approximately $137,610. These trends reflect the growth potential individuals have in this career even if they do not decide to move forward into executive corporation positions.

Earn a degree in finance

A degree in finance can improve your performance as a credit analyst. The University of Alabama at Birmingham’s online Bachelor of Science in Finance can prepare you to pursue this career. This fully online program grant you the autonomy to view lectures and attend virtual sessions on your own time and the networking opportunities to help you connect with classmates with like-minded skills and career goals.

You can take a credit analysis course online to learn about the specifics of this career trajectory. Other subjects you can study during your undergraduate education with UAB include financial accounting, financial management, financial research methods, marketing, information systems, operations management and international financial management.

Becoming a successful credit analyst begins with the right education. If you’d like to learn more about the University of Alabama at Birmingham’s online Bachelor of Science in Finance degree, get in touch with an enrollment advisor today.

Recommended Reading:

What employment opportunities can you find with a Bachelor of Science in Finance?

What you may learn in UAB’s online BS in Finance program


Analyzing a Career in Credit Analysis by Investopedia

Financial Analysts by the U.S. Bureau of Labor Statistics

Occupational Employment and Wages, May 2018 by the U.S. Bureau of Labor Statistics