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Career and Education Opportunities for Credit Analysts in New Orleans, Louisiana

Credit analyst career and educational opportunities abound in New Orleans, Louisiana. About 300 people are currently employed as credit analysts in Louisiana. By 2016, this is expected to grow 3% to about 310 people employed. 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. 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 $23 per hour or $49,870 yearly on average in Louisiana. Nationally they average about $26 per hour or $55,250 annually. Incomes for credit analysts are better than in the overall category of Accounting and Auditing in Louisiana, and not quite as good as the overall Accounting and Auditing category nationally. Credit analysts work in a variety of jobs, including: escrow representative, loan officer, and credit negotiator.

There are eight schools within twenty-five miles of New Orleans where you can study to be a credit analyst, among thirty-two schools of higher education total in the New Orleans area. Given that the most common education level 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

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 New Orleans 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

Our Lady of Holy Cross College - New Orleans, LA

Our Lady of Holy Cross College, 4123 Woodland Drive, New Orleans, LA 70131-7399. Our Lady of Holy Cross College is a small college located in New Orleans, Louisiana. It is a private not-for-profit school with primarily 4-year or above programs and has 1,298 students. Our Lady of Holy Cross College has a bachelor's degree program in Accounting which graduated six students in 2008.

University of New Orleans - New Orleans, LA

University of New Orleans, 2000 Lakeshore Drive, New Orleans, LA 70148. University of New Orleans is a large university located in New Orleans, Louisiana. It is a public school with primarily 4-year or above programs. It has 11,428 students and an admission rate of 55%. University of New Orleans has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated sixty-seven and twelve students respectively in 2008.
  • Finance, bachelor's degree which graduated 54 students in 2008.

University of Phoenix-Louisiana Campus - Metairie, LA

University of Phoenix-Louisiana Campus, One Galleria Blvd. Suite 725, Metairie, LA 70001-2082. University of Phoenix-Louisiana Campus is a small university located in Metairie, Louisiana. It is a private for-profit school with primarily 4-year or above programs and has 1,498 students. University of Phoenix-Louisiana Campus has a bachelor's degree program in Accounting which graduated thirty-three students in 2008.

Loyola University New Orleans - New Orleans, LA

Loyola University New Orleans, 6363 Saint Charles Ave, New Orleans, LA 70118-6143. Loyola University New Orleans is a small university located in New Orleans, Louisiana. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,474 students and an admission rate of 61%. Loyola University New Orleans 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 12 students in 2008.

Xavier University of Louisiana - New Orleans, LA

Xavier University of Louisiana, One Drexel Drive, New Orleans, LA 70125-1098. Xavier University of Louisiana is a small university located in New Orleans, Louisiana. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,236 students and an admission rate of 66%. Xavier University of Louisiana has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree which graduated 9 students in 2008.
  • Finance, bachelor's degree which graduated 3 students in 2008.

Dillard University - New Orleans, LA

Dillard University, 2601 Gentilly Blvd, New Orleans, LA 70122. Dillard University is a small university located in New Orleans, Louisiana. It is a private not-for-profit school with primarily 4-year or above programs. It has 851 students and an admission rate of 35%. Dillard University has a bachelor's degree program in Accounting which graduated nine students in 2008.

Tulane University of Louisiana - New Orleans, LA

Tulane University of Louisiana, 6823 Saint Charles Ave, New Orleans, LA 70118-5698. Tulane University of Louisiana is a large university located in New Orleans, Louisiana. It is a private not-for-profit school with primarily 4-year or above programs. It has 11,157 students and an admission rate of 27%. Tulane University of Louisiana has 2 areas of study related to Credit Analyst. They are:

  • Accounting, associate's degree, bachelor's degree, and master's degree which graduated one, seven, and zero students respectively in 2008.
  • Finance, bachelor's degree and master's degree which graduated nine and two students respectively in 2008.

Southern University at New Orleans - New Orleans, LA

Southern University at New Orleans, 6801 Press Drive, New Orleans, LA 70126. Southern University at New Orleans is a small university located in New Orleans, Louisiana. It is a public school with primarily 4-year or above programs and has 3,105 students. Southern University at New Orleans has a bachelor's degree program in Accounting which graduated ten students in 2008.

LOCATION INFORMATION: New Orleans, Louisiana

New Orleans, Louisiana
New Orleans, Louisiana photo by Krakers

New Orleans is located in Orleans Parish County, Louisiana. It has a population of over 311,853, which has shrunk by 35.7% over the last ten years. The cost of living index in New Orleans, 94, is below the national average. New single-family homes in New Orleans cost $139,700 on average, which is near the state average. In 2008, eight hundred eighty-two new homes were built in New Orleans, down from 1,026 the previous year.

The three big industries for women in New Orleans are health care, educational services, and accommodation and food services. For men, it is accommodation and food services, construction, and educational services. The average commute to work is about 26 minutes. More than 25.8% of New Orleans residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 10.7%, is higher than the state average.

The unemployment rate in New Orleans is 9.8%, which is greater than Louisiana's average of 7.1%.

The percentage of New Orleans residents that are affiliated with a religious congregation, 44.1%, is less than both the national and state average. All Saints Catholic Church, Iglesia Bautista Getsemani and Mars Hill Missionary Baptist Church are among the churches located in New Orleans. The largest religious groups are the Catholic Church, the Southern Baptist Convention and the United Methodist Church.

New Orleans is home to the Keller Market and the New Orleans Country Club as well as Harris Playground and Hardin Playground. Shopping malls in the area include Carrollton Shopping Center, Read Boulevard Shopping Center and Read Plaza Shopping Center. Visitors to New Orleans can choose from Rampart Street Connection, Lafitte Guest House and HAMPTON INN & SUITES CONV CTR for temporary stays in the area.