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Career and Education Opportunities for Credit Analysts in Alabama

Alabama has a population of 4,708,708, which has grown by 5.88% over the past decade. Nicknamed the "Heart of Dixie," its capital is Montgomery, though its largest city is Birmingham.

About 560 people are currently employed as credit analysts in Alabama. By 2016, this is expected to shrink by 4% to about 540 people employed. This is not quite as good as the nation as a whole, where employment opportunities for credit analysts are expected to grow by about 15.0%. 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.

Credit analysts earn approximately $19 per hour or $41,480 per year on average in Alabama. Nationally they average about $26 per hour or $55,250 annually. Credit analysts earn less than people working in the category of Accounting and Auditing generally in Alabama and less than people in the Accounting and Auditing category nationally. People working as credit analysts can fill a number of jobs, such as: risk analyst, credit assessment analyst, and credit risk analyst.

In 2008, there were a total of 2,640,717 jobs in Alabama. The average annual income was $33,655 in 2008, up from $32,803 the preceding year. The unemployment rate in Alabama was 10.1% in 2009, which has grown by 4.9% since the previous year. About 19.0% of Alabama residents have college degrees, which is lower than the national average.

The top industries in Alabama include manufacturing magnetic media, asphalt shingle materials manufacturing, and perishable prepared food manufacturing. Notable tourist destinations include the The Hip Hop Museum of Art, the Alabama Sports Hall of Fame, and the McWane Center.

CITIES WITH Credit Analyst OPPORTUNITIES IN Alabama


JOB 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.

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.

Similar jobs with educational opportunities in Alabama 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.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • 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.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

LOCATION INFORMATION: Alabama

Alabama
Alabama photo by Melinda Shelton

Alabama has a population of 4,708,708, which has grown by 5.88% over the past 10 years. Nicknamed the "Heart of Dixie," its capital is Montgomery, though its most populous city is Birmingham. In 2008, there were a total of 2,640,717 jobs in Alabama. The average annual income was $33,655 in 2008, up from $32,803 the previous year. The unemployment rate in Alabama was 10.1% in 2009, which has grown by 4.9% since the previous year. Approximately 19.0% of Alabama residents have college degrees, which is lower than the national average.

The top industries in Alabama include manufacturing magnetic media, asphalt shingle materials manufacturing, and perishable prepared food manufacturing. Notable tourist destinations include the Alan's Discount Music, the The Hip Hop Museum of Art, and the Birmingham Civil Rights Institute.