Credit Analysts
Wages & Outlook
Wages
Wages for credit analysts vary by their responsibilities and level of education. The area of the country where they work may also affect their pay.
Credit analysts who work full time usually receive benefits. Common benefits are sick leave, paid vacation, and health insurance.
View the Regional Wage Comparison Chart for:
Employment
In Minnesota, about 1,787 credit analysts work in this small occupation.
Major employers:
- Banks and credit unions
- Credit card companies
- Car and truck dealers
- Business management companies
Outlook
The need for credit analysts depends on the state of the economy. When the economy is weak, fewer people apply for home, car, and business loans. Thus, fewer credit analysts will be needed to analyze these loan applications. In addition, growth in this occupation will be slowed by the increased use of computers. Many credit companies use computers to analyze applicant's financial information. This reduces the amount of work analysts must do before they prepare their reports. As a result, analysts can process more applications.
| Employment | Employment Change | |||
|---|---|---|---|---|
| 2010 | 2020 | Number | Percent | |
| U S | 63,300 | 75,900 | 12,500 | 19.7% |
| Minnesota | 1,436 | 1,693 | 257 | 17.9% |
| 2010 | 2020 | Number | Percent | |
| Central Minnesota | 63 | 79 | 16 | 25.4% |
| Northeast Minnesota | 21 | 23 | 2 | 9.5% |
| Northwest Minnesota | 50 | 56 | 6 | 12% |
| Southeast Minnesota | 101 | 121 | 20 | 19.8% |
| Southwest Minnesota | 33 | 43 | 10 | 30.3% |
| Seven County Mpls-St Paul, MN | 1,165 | 1,362 | 197 | 16.9% |
Source: Minnesota Department of Employment and Economic Development and Minnesota Department of Education.
