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What does a Credit Analyst do?

Credit analysts analyze financial statements and data for individuals and businesses in a variety of fields. Their goal is to ascertain the risk involved in extending loans and lending money. In sum, they analyze the creditworthiness of businesses and individuals.

credit analyst

Educational requirements for credit analysts

With a focus primarily in economics and mathematics, the field requires a strong background in both. Most jobs require at least a Bachelor’s degree in business, finance in combination with relevant experience. Many universities and colleges offer degrees and certifications in the business field, and there are a multitude of online degree programs, from certificates in project management and accounting to a Bachelor’s degree in Business Administration or Accounting. However, the most competitive jobs will prefer you to obtain a Master in Business Administration, Accounting, or Finance, and you can obtain these both online and on campus from a plethora of universities.

Highest employment for credit analysts

There are a multitude of industries one can work in as a credit analyst, since all businesses and individuals need advise regarding their financials. According to the United States Bureau of Labor Statistics, the industries with the highest levels of employment of credit analysts were the Depository Credit Intermediation, Nondepository Credit Intermediation, Management of Companies and Enterprises, and Automobile Dealers. However, there are a plethora of other industries in need of the services of a credit analyst.

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