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Career and Education Opportunities for Credit Analysts in Maine

Maine has a population of 1,318,301, which has grown by 3.40% over the past decade. Nicknamed the "Pine Tree State," its capital is Augusta, though its most populous city is Portland.

There are currently 240 jobs for credit analysts in Maine and this is projected to shrink by 10% to 220 jobs 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.

Credit analysts earn approximately $21 hourly or $43,830 annually on average in Maine. Nationally they average about $26 per hour or $55,250 annually. Incomes for credit analysts are not quite as good as in the overall category of Accounting and Auditing in Maine, and not quite as good as the overall Accounting and Auditing category nationally. People working as credit analysts can fill a number of jobs, such as: credit manager, credit administrator, and credit representative.

In 2008, there were a total of 840,874 jobs in Maine. The average annual income was $36,368 in 2008, up from $35,028 the preceding year. The unemployment rate in Maine was 8.0% in 2009, which has grown by 2.7% since the previous year. Approximately 22.9% of Maine residents have college degrees, which is lower than the national average.

The top industries in Maine include paper manufacturing, pulp, paper, and paperboard mills, and direct selling establishments. Notable tourist attractions include the Tate House Museum, the Maine Womens Chistian Temperance Union, and the Museum of African Tribal Art.

CITIES WITH Credit Analyst OPPORTUNITIES IN Maine


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 Maine 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.

LOCATION INFORMATION: Maine

Maine
Maine photo by Fundamentaldan

Maine has a population of 1,318,301, which has grown by 3.40% over the past decade. Nicknamed the "Pine Tree State," its capital is Augusta, though its biggest city is Portland. In 2008, there were a total of 840,874 jobs in Maine. The average annual income was $36,368 in 2008, up from $35,028 the previous year. The unemployment rate in Maine was 8.0% in 2009, which has grown by 2.7% since the previous year. Approximately 22.9% of Maine residents have college degrees, which is lower than the national average.

The top industries in Maine include paper manufacturing, pulp, paper, and paperboard mills, and direct selling establishments. Notable tourist attractions include the Maine Womens Chistian Temperance Union, the Tate House Museum, and the Portland Harbor Museum.