Career and Education Opportunities for Credit Analysts in Dover, Delaware
There are many career and education opportunities for credit analysts in the Dover, Delaware area. Currently, 1,260 people work as credit analysts in Delaware. This is expected to shrink by 14% to 1,090 people by 2016. 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%. Credit analysts generally analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money.
Income for credit analysts is about $21 hourly or $45,700 yearly on average in Delaware. Nationally, their income is about $26 hourly or $55,250 per year. Compared with people working in the overall category of Accounting and Auditing, people working as credit analysts in Delaware earn less. They earn less than people working in the overall category of Accounting and Auditing nationally. Jobs in this field include: factorer, credit representative, and loan review analyst.
The Dover area is home to seven schools of higher education, including three within twenty-five miles of Dover where you can get a degree as a credit analyst. The most common level of education for credit analysts is a Bachelor's degree. 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
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 Dover 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
Wesley College - Dover, DE
Wesley College, 120 N State St, Dover, DE 19901-3875. Wesley College is a small college located in Dover, Delaware. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,290 students and an admission rate of 77%. Wesley College has a bachelor's degree program in Accounting which graduated seven students in 2008.
Delaware Technical and Community College-Terry - Dover, DE
Delaware Technical and Community College-Terry, 100 Campus Drive, Dover, DE 19901. Delaware Technical and Community College-Terry is a small college located in Dover, Delaware. It is a public school with primarily 2-year programs and has 3,319 students. Delaware Technical and Community College-Terry has less than one year, one to two year, and associate's degree programs in Accounting which graduated zero, zero, and eight students respectively in 2008.
Delaware State University - Dover, DE
Delaware State University, 1200 N. Dupont Highway, Dover, DE 19901. Delaware State University is a small university located in Dover, Delaware. It is a public school with primarily 4-year or above programs. It has 3,531 students and an admission rate of 56%. Delaware State University has 2 areas of study related to Credit Analyst. They are:
- Accounting, bachelor's degree which graduated 14 students in 2008.
- Finance, bachelor's degree.
LOCATION INFORMATION: Dover, Delaware
Dover is situated in Kent County, Delaware. It has a population of over 36,107, which has grown by 12.4% over the last ten years. The cost of living index in Dover, 85, is well below the national average. New single-family homes in Dover are priced at $116,700 on average, which is above the state average. In 2008, one hundred twenty-nine new homes were built in Dover, down from one hundred eighty-nine the previous year.
The three most popular industries for women in Dover are educational services, health care, and public administration. For men, it is public administration, educational services, and construction. The average commute to work is about 19 minutes. More than 28.8% of Dover residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 11.3%, is higher than the state average.
The unemployment rate in Dover is 9.4%, which is greater than Delaware's average of 8.5%. About 13.8% of Dover's residents are below the poverty line, which is worse than the state average.
The percentage of Dover residents that are affiliated with a religious congregation, 32.1%, is less than both the national and state average. Saint Andrews Lutheran Church, Beth Shalom Congregation and Bethuel Seventh Day Adventist Church are among the churches located in Dover. The most prominent religious groups are the Catholic Church, the United Methodist Church and the Presbyterian Church (USA).
Dover is home to the Kent Swim Club and the Transportation Administration Center as well as Eden Hill and Richardson Park. Shopping malls in the area include Blue Hen Mall and Dover Mall. Visitors to Dover can choose from Inn at Meeting House Square, Little Creek Inn and Ramada Inn for temporary stays in the area.