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Salary and Benefits

Credit Manager
$57K-$69K / yr. (est.)
$57K
$63,378 / year
$70K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Credit Manager

What does a Credit Manager do?

As credit managers, we help with the credit giving process of the organization. Our job requires us to be efficient enough to enhance company sales. As credit managers, we reduce bad debts by maintaining the credit policy. We accomplish these goals by seeking reviews of existing customers and evaluating the solvency of potential customers. We negotiate with the new clients on the terms of the loan. Our job requires us to add value to the company by optimizing the sales to debt ratio and other such ratios.

Core tasks:

  • overseeing the lending process of the company
  • approving and rejecting the loans, and calculating the interest rates
  • updating the company’s credit policy

Insights

How Many Years of Experience Do Professionals Need Before Becoming Credit Manager?
On average, people work 3-5 years in other positions prior to becoming a Credit Manager.
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AccountantHouston, TX - 10 months ago
hmm, I can see both sides. Some roles may require more experience, while others prioritize specific skills over lengthy experience.
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Financial AdvisorMiami, FL - 10 months ago
Where is this average coming from? 🙄 It's important to look at each individual's qualifications, not just generalizations.
How Long Do Credit Manager Employees Typically Stay in Their Roles?
On average, Credit Managers works in this position for 5+ years across multiple employers.
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Insurance Agency OwnerMiami, FL - 10 months ago
There's nothing more frustrating than dealing with credit managers who reject valid credit applications. What a waste of time!
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Financial AnalystSan Francisco, CA - 10 months ago
Credit managers hold the key to minimizing financial risks for companies. A crucial role indeed! 💼
What Is the Job Hopper Score for Credit Manager Employees?
Frequent job changes in Credit Manager, indicating a willingness to change companies and roles more frequently.
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Insurance Agency OwnerHouston, TX - 10 months ago
💼 As a fellow entrepreneur, I value adaptability and risk-taking. Credit Managers open themselves up to new opportunities, so they can better understand their clients and make informed decisions when managing credit.
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Private BankerBoston, MA - 10 months ago
😡 This is absolutely laughable! Credit Managers should demonstrate loyalty and commitment. Frequent job changes indicate a lack of dedication and accountability, making them ill-suited for such a crucial financial role.

Career path

Path to job

Discover a Credit Manager's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Credit Manager typically studied at.
Michigan State University
Northern Illinois University

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Credit Manager Employees?
Gender ratio in Credit Manager position: 0.583346450495829 Male and 0.416653549504171 Female. Age ratio in Credit Manager position: 16-20: 6%, 21-30: 61%, 31-40: 23%, 41-50: 8%, 51-60: 2%, 60+: 0%. Credit Manager position is predominantly male (58.3%) with the largest age group being 21-30 years old, followed by 31-40 years old.
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Credit ManagerSan Francisco, CA - 10 months ago
It's disappointing to see so little representation for older credit managers, we need more diversity in age! 👴
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Credit ManagerMiami, FL - 10 months ago
Why are there more men than women in this field? Is there any particular reason? 🤔

Workplaces

Who Are the Top Employers for Credit Manager?
Top employers of Credit Manager position: Bank of America, Ferguson Enterprises, GM Financial. People who work in Credit Manager position most typically go on to work for the Bank of America.
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Credit ManagerDenver, CO - 10 months ago
GM Financial has a toxic work culture and their management lacks transparency. Would not recommend working there!
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Credit ManagerChicago, IL - 10 months ago
Bank of America offers competitive salaries and benefits package. It's a stable company with many growth opportunities.
Bank of America
Ferguson Enterprises
GM Financial
What Industries Does Credit Manager Typically Have Experience In?
Industry Background: The most typical industries of Credit Manager: Finance & Insurance, Manufacturing, Retail, Wholesale, Construction. Credit Manager employees most likely come from a Finance & Insurance industry background.
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Credit ManagerHouston, TX - 10 months ago
Being a Credit Manager can be tough, constantly dealing with delinquent customers and trying to collect money owed. It takes patience and persistence! 💪
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Credit ManagerPhiladelphia, PA - 10 months ago
Being a Credit Manager sounds intriguing. I bet it's an interesting mix of analyzing credit scores and negotiating payment terms. 🤔

Find your job as Credit Manager

Discussion about Credit Manager

Want to know more about Credit Manager position?
Share your thoughts and ideas about Credit Manager position with others in our community.
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Do a lot of women work as a Credit Manager?
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Liam Brown3 years ago
40% are women in this profession.
What is the typical age to work as a Credit Manager?
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Benjamin Gardner3 years ago
People working as a Credit Manager are 29 old on average.
How much experience is typically required to work as a Credit Manager?
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Sophie Hayes3 years ago
You probably need around 4 years to work as a Credit Manager
Which industries does a Credit Manager typically work in?
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Benjamin Gardner3 years ago
Wholesale is typical for a Credit Manager to work in.
Do I need a degree to work as a Credit Manager?
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Liam Brown3 years ago
As a Credit Manager you’ll probably need No higher education
Which company are you working for as a Credit Manager?
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Isabella Holmes3 years ago
Most people work for Bank of America, Ferguson Enterprises, GM Financial, Regional Acceptance and Wells Fargo
How many years do people work as a Credit Manager before changing their role?
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Isabella Holmes3 years ago
More than 5 years is the typical lifespan for a Credit Manager.
How frequently people change companies if they work as a Credit Manager?
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Isabella Holmes3 years ago
A Credit Manager is likely to work for multiple companies as a Credit Manager.
What jobs do people work in before becoming a Credit Manager?
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Sophie Hayes3 years ago
Typical prior positions for a Credit Manager are Credit Analyst, Credit and Collections Manager or Credit Supervisor
If I’m working as a Credit Manager, what next position could I have?
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Liam Brown3 years ago
Consider the following: Credit Analyst, Director OF Credit or Credit and Collections Manager
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Disclaimer

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