Credit Analyst Salary 2025: $83,510 Median, Downside for Career Outlook
The median credit analyst in the U.S. earns $83,510 per year, according to the Bureau of Labor Statistics. That works out to roughly $40 an hour. The middle 80% of workers in this role range from $56,250 at the 10th percentile to $169,230 at the 90th, meaning top performers can more than double the median.
Credit analysts evaluate financial data to assess the risk of lending money or extending credit. They work in banks, investment firms, rating agencies, and corporate credit departments. While the pay is solid, the job outlook is contracting: BLS projects a 4.4% decline in employment from 2024 to 2034, with about 3,700 openings per year, mostly from workers leaving the occupation.
How much Credit Analysts earn
The national median salary for credit analysts is $83,510 per year, or about $40.13 per hour. The average (mean) wage is higher at $100,850, pulled up by high earners. The typical range runs from $56,250 (10th percentile) to $169,230 (90th percentile). Entry-level analysts start near the bottom, while senior analysts and those in financial hubs can crack six figures easily.
Pay varies significantly by experience and industry. Analysts in securities, commodity contracts, and other financial investments earn a mean of $118,760, while those in depository credit intermediation (banks) average $92,490. The highest-paying industry is computer and peripheral equipment manufacturing, but it employs very few.
Pay by state
Where you work matters a lot. New York pays credit analysts the most, with an annual mean wage of $133,270. The District of Columbia is close behind at $132,590, followed by Virginia ($102,430), New Jersey ($100,940), and Hawaii ($98,900). These states tend to have high costs of living and concentrations of financial firms.
At the lower end, Indiana ($62,660), Wyoming ($62,210), and West Virginia ($57,320) pay well below the national median. Even adjusting for cost of living, the gap is wide: a credit analyst in West Virginia earns barely half of what one in New York does. If you're willing to relocate, the highest-paying states offer a substantial premium.
How to become a Credit Analyst
The standard path is a bachelor's degree in finance, accounting, economics, or a related business field. Many employers also require strong quantitative skills, proficiency in Excel, and the ability to interpret financial statements. Internships during college are common stepping stones.
Certifications can help you stand out. The Credit Risk Certification (CRC) from the Risk Management Association is widely recognized. The Chartered Financial Analyst (CFA) charter is more rigorous but opens doors to senior roles. Some analysts start as loan officers or underwriters and move up. Graduate degrees (MBA or Master's in Finance) are not required but can accelerate advancement.
- Earn a bachelor's degree in finance, accounting, or economics
- Gather 1–2 years of experience in banking or financial analysis through internships or entry-level jobs
- Consider the CRC certification to boost credibility
- Develop skills in financial modeling, credit risk assessment, and regulatory knowledge
- Look for credit analyst trainee programs at large banks
Job outlook
Employment of credit analysts is projected to decline 4.4% from 2024 to 2034, a loss of about 64,390 positions. That's a shrinking field, driven by automation and increasing use of algorithmic credit scoring. However, about 3,700 openings per year will still exist as workers retire or transfer to other occupations.
In plain terms: the number of jobs is falling, not growing. New graduates will face competition. The best prospects are for analysts with strong data science skills who can work alongside automated systems, or who specialize in complex credit analysis that software can't handle.
Frequently asked questions
Do credit analysts make good money?
Yes, the median salary of $83,510 is well above the national median for all occupations. Top earners exceed $169,000. But pay varies a lot by location and industry.
Is it hard to become a credit analyst?
It's moderately competitive. A bachelor's degree in finance or accounting is standard, and many banks look for 1–2 years of internship or work experience. Certifications like CRC or CFA can help but aren't mandatory.
Are credit analysts in demand?
Not really. BLS projects a 4.4% decline over the next decade, so the field is shrinking. But roughly 3,700 job openings per year should still appear due to turnover.
Salary figures are U.S. Bureau of Labor Statistics estimates (OEWS / Employment Projections). For informational purposes only; not career or financial advice. See the full Credit Analysts data.