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Career and Education Opportunities for Credit Analysts in Birmingham, Alabama

For those living in the Birmingham, Alabama area, there are many career and education opportunities for credit analysts. Currently, 560 people work as credit analysts in Alabama. This is expected to shrink by 4% to about 540 people by 2016. This is not quite as good as the national trend for credit analysts, which sees this job pool growing by about 15.0% over the next eight years. In general, credit analysts analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money.

A person working as a credit analyst can expect to earn about $19 per hour or $41,480 per year on average in Alabama and about $26 hourly or $55,250 yearly on average in the U.S. as a whole. Incomes for credit analysts are not quite as good as in the overall category of Accounting and Auditing in Alabama, and not quite as good as the overall Accounting and Auditing category nationally. People working as credit analysts can fill a number of jobs, such as: underwriter, credit and collections analyst, and analyst.

The Birmingham area is home to fifteen schools of higher education, including seven within twenty-five miles of Birmingham where you can get a degree as a credit analyst. Credit analysts usually hold a Bachelor's degree, so you can expect to spend about four years training to become a credit analyst if you already have a high school diploma.

CAREER DESCRIPTION: Credit Analyst

Credit Analyst video from the State of New Jersey Dept. of Labor and Workforce Development

In general, credit analysts analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. They also prepare reports with this credit information for use in decision-making.

Credit analysts analyze credit data and financial statements to establish the degree of risk involved in extending credit or lending money. They also compare liquidity and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations. Finally, credit analysts talk with credit associations and other business representatives to exchange credit data.

Every day, credit analysts are expected to be able to think through problems and come up with general rules. They need to articulate ideas and problems. It is also important that they deal with basic arithmetic problems.

It is important for credit analysts to generate financial ratios, using computer programs, to review customers' financial status. They are often called upon to confer with customers to deal with complaints and verify financial and credit transactions. They also ready reports that include the degree of risk involved in extending credit or lending money. They are sometimes expected to inspect individual or commercial customer files to pinpoint and decide on delinquent accounts for collection. Somewhat less frequently, credit analysts are also expected to analyze financial data such as income growth, quality of management, and market share to establish expected profitability of loans.

They also have to be able to analyze financial data such as income growth, quality of management, and market share to establish expected profitability of loans and evaluate customer records and recommend payment plans on the basis of earnings and purchase activity. And finally, they sometimes have to analyze credit data and financial statements to establish the degree of risk involved in extending credit or lending money.

Like many other jobs, credit analysts must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Birmingham include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Credit Analyst Training

Samford University - Birmingham, AL

Samford University, 800 Lakeshore Drive, Birmingham, AL 35229-2240. Samford University is a small university located in Birmingham, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,469 students and an admission rate of 89%. Samford University has a bachelor's degree and a master's degree program in Accounting which graduated thirty-seven and thirteen students respectively in 2008.

Birmingham Southern College - Birmingham, AL

Birmingham Southern College, 900 Arkadelphia Road, Birmingham, AL 35254. Birmingham Southern College is a small college located in Birmingham, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,458 students and an admission rate of 69%. Birmingham Southern College has a bachelor's degree program in Accounting which graduated twenty-two students in 2008.

Miles College - Fairfield, AL

Miles College, 5500 Myron Massey Blvd, Fairfield, AL 35064. Miles College is a small college located in Fairfield, Alabama. It is a private not-for-profit school with primarily 4-year or above programs and has 1,773 students. Miles College has a bachelor's degree program in Accounting which graduated fourteen students in 2008.

University of Montevallo - Montevallo, AL

University of Montevallo, Station 6001, Montevallo, AL 35115-6000. University of Montevallo is a small university located in Montevallo, Alabama. It is a public school with primarily 4-year or above programs. It has 3,030 students and an admission rate of 78%. University of Montevallo has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree which graduated 6 students in 2008.
  • Finance, bachelor's degree which graduated 14 students in 2008.

Virginia College-Birmingham - Birmingham, AL

Virginia College-Birmingham, 65 Bagby Dr., Birmingham, AL 35209-3703. Virginia College-Birmingham is a medium sized college located in Birmingham, Alabama. It is a private for-profit school with primarily 4-year or above programs. It has 6,090 students and an admission rate of 64%. Virginia College-Birmingham has one to two year, associate's degree, and bachelor's degree programs in Accounting which graduated five, twenty-eight, and zero students respectively in 2008.

Herzing College - Birmingham, AL

Herzing College, 280 West Valley Ave, Birmingham, AL 35209. Herzing College is a small college located in Birmingham, Alabama. It is a private for-profit school with primarily 4-year or above programs. It has 314 students and an admission rate of 82%. Herzing College has a bachelor's degree program in Accounting which graduated one student in 2008.

University of Alabama at Birmingham - Birmingham, AL

University of Alabama at Birmingham, Administration Bldg Suite 1070, Birmingham, AL 35294-0110. University of Alabama at Birmingham is a large university located in Birmingham, Alabama. It is a public school with primarily 4-year or above programs. It has 16,149 students and an admission rate of 85%. University of Alabama at Birmingham has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated six and fifteen students respectively in 2008.
  • Finance, bachelor's degree which graduated 7 students in 2008.

LOCATION INFORMATION: Birmingham, Alabama

Birmingham, Alabama
Birmingham, Alabama photo by Eric_in_SF

Birmingham is located in Jefferson County, Alabama. It has a population of over 228,798, which has shrunk by 5.8% over the last ten years. The cost of living index in Birmingham, 81, is well below the national average. New single-family homes in Birmingham cost $187,300 on average, which is well above the state average. In 2008, one hundred thirty-two new homes were built in Birmingham, down from two hundred thirty-two the previous year.

The top three industries for women in Birmingham are health care, educational services, and finance and insurance. For men, it is construction, accommodation and food services, and health care. The average travel time to work is about 24 minutes. More than 18.5% of Birmingham residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 6.6%, is lower than the state average.

The unemployment rate in Birmingham is 12.5%, which is greater than Alabama's average of 10.7%.

The percentage of Birmingham residents that are affiliated with a religious congregation, 60.1%, is more than both the national and state average. Williams Chapel Christian Methodist Episcopal Church, Westminister Presbyterian Church and West End Methodist Church are all churches located in Birmingham. The most common religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.

Birmingham is home to the Mineral Park Municipal Golf Course and the Cooper Green Golf Course as well as Avondale Mills Park and Smithfield Historic District. Shopping malls in the area include Acipco Shopping Center, Altadena Square Shopping Center and Parkway East Huffman Shopping Center. Visitors to Birmingham can choose from Marriott Hotel Birmingham, Rime Garden Extended Stay Suites and Studioplus for temporary stays in the area.