Loan Officer
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Business & Office career
Credit Analyst
Also called: Credit Risk Analyst · Commercial Credit Analyst · Underwriting Analyst · Loan Analyst
What credit analysts do, what they earn, how long training takes and how to get started, with official BLS pay data and practical, job-level detail.
What does a credit analyst do?
Credit analysts analyze credit data and financial statements of individuals or firms to determine the risk of lending money. The median pay is $83,510 per year (BLS, May 2025), most people train for about Bank credit training programs, and employment is projected to grow -4.3% from 2025–35.
Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026
- Median pay$83,510$40.15/hour · May 2025
- Job growth-4.3%2025–35, a projected decline
- Openings per year3,100Average, 2025–35
- Typical entry educationBachelor's degreeBLS classification
- Time to trainBank credit training programsTypical program length
- U.S. jobs64,700Employment, 2025
What credit analysts do
Credit analysts judge lending risk. They study financial statements, credit reports, cash flow and collateral, calculate ratios, write credit memos recommending approval or denial, and monitor existing loans. They work for banks, credit unions, finance companies and businesses that sell on credit.
Most have a bachelor’s degree in finance or accounting. BLS projects decline as automation grows, but commercial credit analysis still needs judgment.
Typical duties
- Analyze financial statements
- Review credit reports
- Calculate financial ratios
- Write credit memos
- Recommend approvals or denials
- Monitor existing loans
- Assess collateral
Work environment and schedule
Credit analysts work in bank and corporate offices.
Schedule: Full-time business hours.
A day in the life
- Spread a borrower’s financials.
- Calculate debt service coverage.
- Call the loan officer with questions.
- Write a credit memo.
See a full day in the life of a credit analyst →
Credit Analyst salary
Half of credit analysts earned more than $83,510 and half earned less in May 2025. Pay ranged from about $56,250 for the lowest 10% to $169,230 for the top 10%.
Full credit analyst pay scale and hourly rates →
How to become a credit analyst
- Earn a bachelor’s
- Join a bank credit program
- Spread financials
- Write credit memos
- Advance
A bachelor’s degree in finance, accounting or economics is typical.
Step-by-step guide to becoming a credit analyst →
Skills and tools
Technical skills
- Financial statement analysis
- Ratio analysis
- Cash flow analysis
- Credit memo writing
- Collateral evaluation
People skills
- Attention to detail
- Judgment
- Communication
- Skepticism
All credit analyst skills and tools →
Pros and cons
Pros
- Strong entry to banking careers
- Good pay
- Analytical work
- Office hours
Cons
- Declining employment
- Repetitive tasks
- Deadline pressure
- Automation risk
Certifications and licenses
- CCBA: Certified credit analyst designations from banking groups.
- RMA credit training: Risk Management Association.
- CFA: Optional.
- Commercial lending courses: Helpful.
Career path
- Credit Analyst: Entry.
- Senior Credit Analyst: Complex loans.
- Credit Officer or Lender: Approve loans.
- Chief Credit Officer: Lead credit.
Learn the job before day one
Our Credit Analyst training (10 hours, $89.99) covers the role, 15+ key terms, step-by-step procedures such as calculate debt service coverage and write a commercial credit memo, safety and how to land your first job.
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Compare: Credit Analyst vs. Loan Officer · Credit Analyst vs. Financial Analyst · Credit Analyst vs. Insurance Underwriter · Credit Analyst vs. Financial Risk Specialist
Credit Analyst FAQ
Is credit analyst a good entry banking job?
Yes, it’s a common path to lending.
Is it growing?
BLS projects decline as automation increases.
What degree do I need?
Usually finance or accounting.
How much does a credit analyst make?
The median annual wage for credit analysts was $83,510 ($40.15 per hour) in May 2025, according to the U.S. Bureau of Labor Statistics. The lowest 10% earned less than $56,250 and the highest 10% earned more than $169,230.
How long does it take to become a credit analyst?
Most people need about Bank credit training programs of training. A bachelor’s degree in finance, accounting or economics is typical.
Do you need a degree to be a credit analyst?
Usually, yes. BLS lists a bachelor's degree as the typical entry-level education, although skills, certifications and experience can sometimes substitute.
More credit analyst questions →
Sources
- U.S. Bureau of Labor Statistics, BLS Occupational Employment and Wage Statistics (OEWS), May 2025, SOC 13-2041 (Credit analysts).
- U.S. Bureau of Labor Statistics, BLS Employment Projections, Table 1.2 (2025–35).
- O*NET OnLine summary for Credit analysts (U.S. Department of Labor).
- BLS Occupational Outlook Handbook.
Reviewed by the Career Education Institute Curriculum Team. Pay figures are national estimates; local pay varies. See our editorial policy.