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Career and Education Opportunities for Credit Analysts in Montgomery, Alabama

For those living in the Montgomery, Alabama area, there are many career and education opportunities for credit analysts. There are currently 560 working credit analysts in Alabama; this should shrink by 4% to 540 working credit analysts in the state 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.

Credit analysts earn approximately $19 per hour or $41,480 annually on average in Alabama. Nationally they average about $26 per hour or $55,250 per year. 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. Credit analysts work in a variety of jobs, including: factorer, credit negotiator, and loan officer.

The Montgomery area is home to twelve schools of higher education, including five within twenty-five miles of Montgomery where you can get a degree as a credit analyst. Given that the most common education level for credit analysts is a Bachelor's degree, you can expect to spend about four years studying to be 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 Montgomery 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 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

South University-Montgomery - Montgomery, AL

South University-Montgomery, 5355 Vaughn Road, Montgomery, AL 36116-1120. South University-Montgomery is a small university located in Montgomery, Alabama. It is a private for-profit school with primarily 4-year or above programs. It has 576 students and an admission rate of 90%. South University-Montgomery has an associate's degree program in Accounting which graduated one student in 2008.

Huntingdon College - Montgomery, AL

Huntingdon College, 1500 East Fairview Avenue, Montgomery, AL 36106-2148. Huntingdon College is a small college located in Montgomery, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,076 students and an admission rate of 65%. Huntingdon College has a bachelor's degree program in Accounting which graduated two students in 2008.

Alabama State University - Montgomery, AL

Alabama State University, 915 S Jackson Street, Montgomery, AL 36101-0271. Alabama State University is a medium sized university located in Montgomery, Alabama. It is a public school with primarily 4-year or above programs. It has 5,695 students and an admission rate of 42%. Alabama State University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated fourteen and six students respectively in 2008.
  • Finance, bachelor's degree which graduated 11 students in 2008.

Auburn University-Montgomery - Montgomery, AL

Auburn University-Montgomery, 7440 East Drive, Montgomery, AL 36117-3596. Auburn University-Montgomery is a medium sized university located in Montgomery, Alabama. It is a public school with primarily 4-year or above programs. It has 5,248 students and an admission rate of 91%. Auburn University-Montgomery has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree which graduated 47 students in 2008.
  • Finance, bachelor's degree which graduated 2 students in 2008.

Tuskegee University - Tuskegee, AL

Tuskegee University, Kresge Center, 3rd Floor, Tuskegee, AL 36088-1920. Tuskegee University is a small university located in Tuskegee, Alabama. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,973 students and an admission rate of 59%. Tuskegee University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree which graduated 1 student in 2008.
  • Finance, bachelor's degree which graduated 2 students in 2008.

LOCATION INFORMATION: Montgomery, Alabama

Montgomery, Alabama
Montgomery, Alabama photo by Spyder Monkey

Montgomery is situated in Montgomery County, Alabama. It has a population of over 202,696, which has grown by 0.6% over the last ten years. The cost of living index in Montgomery, 83, is well below the national average. New single-family homes in Montgomery are valued at $129,500 on average, which is well below the state average. In 2008, two hundred seventy-eight new homes were built in Montgomery, down from six hundred nineteen the previous year.

The three most popular industries for women in Montgomery are health care, educational services, and public administration. For men, it is public administration, construction, and educational services. The average travel time to work is about 20 minutes. More than 29.4% of Montgomery residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 11.3%, is higher than the state average.

The unemployment rate in Montgomery is 10.1%, which is less than Alabama's average of 10.7%.

The percentage of Montgomery residents that are affiliated with a religious congregation, 50.6%, is more than the national average but less than the state average. Big Roxanna Church, William African Methodist Episcopal Zion Chapel and Whitfield Memorial United Methodist Church are some of the churches located in Montgomery. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Churches of Christ.

Montgomery is home to the Montgomery Public Library and the Booker T Washington Community Center as well as Old Selma Road Park and Montgomery East Exchange Park. Shopping centers in the area include Montgomery East Plaza Shopping Center, Montgomery Mall Shopping Center and Norman Bridge South Shopping Center. Visitors to Montgomery can choose from Relax Inn, Islander and Towne Place Suites by Marriott for temporary stays in the area.