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Salary and Benefits

Credit Officer
$63K-$77K / yr. (est.)
$64K
$70,624 / year
$78K
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 Officer

What does a Credit Officer do?

We, the credit officers, are responsible for reviewing the loan request of the clients. We assess the financial status of the client and check the solvency and risks associated with the loan. Our job requires us to critically evaluate whether to provide the loan or not. We even contact the client on the renewal of the loan and for other terms related to the loan. We perform our task by frequently updating the loan requests and maintaining the record of loan applications.

Core tasks:

  • calculating financial and risk ratios
  • contacting the clients to gather financial data
  • setting up the payment plan and monitoring existing loans

Insights

How Many Years of Experience Do Professionals Need Before Becoming Credit Officer?
On average, people work 7+ years in other positions prior to becoming a Credit Officer.
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Credit OfficerPhoenix, AZ - A year ago
🙄 I guess being a Credit Officer means paying your dues and gaining experience. Makes sense, I suppose. It's a tough job, after all.
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Credit OfficerBoston, MA - A year ago
7 years in other positions? That's ridiculous! How will anyone ever get a chance to advance if they need to wait that long? This is frustrating. 😡
How Long Do Credit Officer Employees Typically Stay in Their Roles?
On average, Credit Officers works in this position for 5+ years across multiple employers.
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AccountantHouston, TX - A year ago
Credit Officers should focus on building long-term relationships with employers if they want to improve job stability and avoid the constant hassle of job hunting. 🧐
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Sales ManagerMiami, FL - A year ago
My friend who is a Credit Officer constantly complains about not being valued enough by employers. Maybe if they stay loyal to just one company, they can prove their worth! 🤨
What Is the Job Hopper Score for Credit Officer Employees?
Moderate job changes in Credit Officer, showing some career movement without excessive turnover.
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AccountantHouston, TX - A year ago
the people in the finance industry are never truly satisfied, they always hopping for the next hot thing the grass is always greener on the other side I guess
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Financial AdvisorMiami, FL - A year ago
The credit officer job is evolving rapidly, and this infographic acknowledges the changing nature of the role.

Career path

Path to job

Discover a Credit Officer's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Credit Officer typically studied at.
New York University
Rutgers University-Camden

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Credit Officer Employees?
Gender ratio in Credit Officer position: 0.708069286016054 Male and 0.291930713983946 Female. Age ratio in Credit Officer position: 16-20: 3%, 21-30: 46%, 31-40: 28%, 41-50: 15%, 51-60: 7%, 60+: 1%. Credit Officer position is predominantly male (70.8%) with the largest age group being 21-30 years old, followed by 31-40 years old.
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Credit OfficerSan Francisco, CA - A year ago
Age-wise, it seems like this profession is dominated by young folks. What about experience and expertise? 🧐
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Credit OfficerMiami, FL - A year ago
This imbalance shouldn't be ignored. We need to address this issue and strive for equality in all professions! 💔

Workplaces

Who Are the Top Employers for Credit Officer?
Top employers of Credit Officer position: Bank of America, Citi, City National Bank. People who work in Credit Officer position most typically go on to work for the Bank of America.
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Credit OfficerSan Francisco, CA - A year ago
Bank of America offers a wider range of growth opportunities for Credit Officers. Citi's benefits don't compare.
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Credit OfficerMiami, FL - A year ago
City National Bank has the best reputation and employee morale among Credit Officer employers. Bank of America lacks support.
Bank of America
Citi
City National Bank
What Industries Does Credit Officer Typically Have Experience In?
Industry Background: The most typical industries of Credit Officer: Finance & Insurance, Professional / Scientific / Technical, Publishing & Broadcasting, Manufacturing, Retail. Credit Officer employees most likely come from a Finance & Insurance industry background.
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Credit OfficerHouston, TX - A year ago
A Credit Officer plays a critical role in minimizing the risk of bad debts and ensuring that the company's cash flow remains stable.
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Credit OfficerMiami, FL - A year ago
Y'all need to stop underestimating the importance of Credit Officers! We are the gatekeepers of financial security and trust in businesses.

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Discussion about Credit Officer

Want to know more about Credit Officer position?
Share your thoughts and ideas about Credit Officer position with others in our community.
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How is the gender diversity among people working as a Credit Officer?
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Sophie Hayes4 years ago
30% are women in this profession only.
How old are people who work as a Credit Officer?
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Benjamin Gardner4 years ago
The typical age is 33.
How much experience is typically required to work as a Credit Officer?
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Liam Brown4 years ago
On average, people have 7 years of experience when they start working as a Credit Officer
Which industries does a Credit Officer typically work in?
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Isabella Holmes4 years ago
Finance & Insurance is the most probable for a Credit Officer to work in.
Is a degree needed to work as a Credit Officer?
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Sophie Hayes4 years ago
Bachelor of Science degree is the typical for a Credit Officer
Where are you working as a Credit Officer?
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Benjamin Gardner4 years ago
It’s common for a Credit Officer to work for Bank of America, Citi, City National Bank, Moody's and Wells Fargo
How many years do people work as a Credit Officer before changing their role?
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Sophie Hayes4 years ago
On average people change after more than 5 years.
How likely is it for people working as a Credit Officer to switch companies still working as a Credit Officer?
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Liam Brown4 years ago
a Credit Officer is not a typical job hopper, but might change companies.
What jobs do people work in before becoming a Credit Officer?
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Isabella Holmes4 years ago
Most people come from Vice President, Credit Analyst or Underwriter roles
If I’m working as a Credit Officer, what next position could I have?
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Liam Brown4 years ago
Changing from a Credit Officer to Vice President, CHIEF Credit Officer or Credit Analyst is a typical career path.
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Disclaimer

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