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Career and Education Opportunities for Credit Analysts in Lexington-Fayette, Kentucky

For those living in the Lexington-Fayette, Kentucky area, there are many career and education opportunities for credit analysts. The national trend for credit analysts sees this job pool growing by about 15.0% over the next eight years. 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.

Credit analysts earn approximately $25 hourly or $52,720 yearly on average in Kentucky. Nationally they average about $26 per hour or $55,250 per year. Credit analysts earn more than people working in the category of Accounting and Auditing generally in Kentucky and less than people in the Accounting and Auditing category nationally. Credit analysts work in a variety of jobs, including: credit administrator, risk analyst, and credit and collections analyst.

The Lexington-Fayette area is home to twenty-two schools of higher education, including seven within twenty-five miles of Lexington-Fayette where you can get a degree as a credit analyst. The most common level of education for credit analysts is a Bachelor's degree. It will take about four years to learn 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 Lexington-Fayette 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.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • 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.

EDUCATIONAL OPPORTUNITIES: Credit Analyst Training

Berea College - Berea, KY

Berea College, 101 Chestnut Street, Berea, KY 40404-2182. Berea College is a small college located in Berea, Kentucky. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,550 students and an admission rate of 22%. Berea College has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree which graduated 21 students in 2008.
  • Finance, bachelor's degree which graduated 2 students in 2008.

Georgetown College - Georgetown, KY

Georgetown College, 400 East College Street, Georgetown, KY 40324. Georgetown College is a small college located in Georgetown, Kentucky. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,856 students and an admission rate of 84%. Georgetown College has a bachelor's degree program in Accounting.

Eastern Kentucky University - Richmond, KY

Eastern Kentucky University, 521 Lancaster Ave, Richmond, KY 40475-3102. Eastern Kentucky University is a large university located in Richmond, Kentucky. It is a public school with primarily 4-year or above programs. It has 16,050 students and an admission rate of 69%. Eastern Kentucky University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and postbaccalaureate certificate which graduated fifty and zero students respectively in 2008.
  • Finance, bachelor's degree which graduated 1 student in 2008.

National College-Lexington - Lexington, KY

National College-Lexington, 2376 Sir Barton Way, Lexington, KY 40509. National College-Lexington is a small college located in Lexington, Kentucky. It is a private for-profit school with primarily 4-year or above programs and has 2,694 students. National College-Lexington has an associate's degree and a bachelor's degree program in Accounting which graduated forty-three and one students respectively in 2008.

Asbury College - Wilmore, KY

Asbury College, 1 Macklem Dr, Wilmore, KY 40390-1198. Asbury College is a small college located in Wilmore, Kentucky. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,521 students and an admission rate of 56%. Asbury College has a bachelor's degree program in Accounting which graduated two students in 2008.

Transylvania University - Lexington, KY

Transylvania University, 300 N Broadway, Lexington, KY 40508-1797. Transylvania University is a small university located in Lexington, Kentucky. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,158 students and an admission rate of 23%. Transylvania University has a bachelor's degree program in Accounting which graduated one student in 2008.

University of Kentucky - Lexington, KY

University of Kentucky, , Lexington, KY 40506-0032. University of Kentucky is a large university located in Lexington, Kentucky. It is a public school with primarily 4-year or above programs. It has 26,083 students and an admission rate of 77%. University of Kentucky has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated 144 and eighteen students respectively in 2008.
  • Finance, bachelor's degree which graduated 30 students in 2008.

LOCATION INFORMATION: Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky
Lexington-Fayette, Kentucky photo by Jonesey

Lexington-Fayette is located in Fayette County, Kentucky. It has a population of over 282,114, which has grown by 8.3% over the last ten years. The cost of living index in Lexington-Fayette, 84, is well below the national average. New single-family homes in Lexington-Fayette are valued at $167,600 on average, which is well above the state average. In 2008, seven hundred seventy-one new homes were built in Lexington-Fayette, down from 1,227 the previous year.

The three big industries for women in Lexington-Fayette are health care, educational services, and accommodation and food services. For men, it is educational services, construction, and accommodation and food services. The average travel time to work is about 19 minutes. More than 35.6% of Lexington-Fayette residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 14.5%, is higher than the state average.

The percentage of Lexington-Fayette residents that are affiliated with a religious congregation, 47.3%, is less than both the national and state average. Victory Baptist Church, Aldersgate Church and Trinity Hill United Methodist Church are all churches located in Lexington-Fayette. The largest religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Lexington-Fayette is home to the Tates Creek Country Club and the Home of Henry Clay as well as Kentucky State Horse Park and Duncan Park. Shopping centers in the area include Fayette Mall, Turfland Mall and Lexington Mall.