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Career and Education Opportunities for Credit Analysts in Gulfport, Mississippi

There are many career and education opportunities for credit analysts in the Gulfport, Mississippi area. About 200 people are currently employed as credit analysts in Mississippi. By 2016, this is expected to grow by 9% to about 220 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 about $23 hourly or $48,030 annually on average in Mississippi and about $26 per hour or $55,250 yearly on average nationally. Incomes for credit analysts are better than in the overall category of Accounting and Auditing in Mississippi, and not quite as good as the overall Accounting and Auditing category nationally. Credit analysts work in a variety of jobs, including: credit assessment analyst, financial analyst, and credit and collections analyst.

There is one school within twenty-five miles of Gulfport where you can study to be a credit analyst, among six schools of higher education total in the Gulfport area. The most common level of education 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 Gulfport include:

  • 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.
  • 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.

EDUCATIONAL OPPORTUNITIES: Credit Analyst Training

Mississippi Gulf Coast Community College - Perkinston, MS

Mississippi Gulf Coast Community College, 51 Main Street, Perkinston, MS 39573. Mississippi Gulf Coast Community College is a medium sized college located in Perkinston, Mississippi. It is a public school with primarily 2-year programs and has 9,215 students. Mississippi Gulf Coast Community College has an associate's degree program in Finance which graduated one student in 2008.

LOCATION INFORMATION: Gulfport, Mississippi

Gulfport, Mississippi
Gulfport, Mississippi photo by Charlie Brenner

Gulfport is located in Harrison County, Mississippi. It has a population of over 70,055, which has shrunk by 1.5% over the last ten years. The cost of living index in Gulfport, 87, is well below the national average. New single-family homes in Gulfport are valued at $108,600 on average, which is well below the state average. In 2008, two hundred forty-two new homes were constructed in Gulfport, down from three hundred twenty-nine the previous year.

The top three industries for women in Gulfport are health care, arts, entertainment, and recreation, and accommodation and food services. For men, it is construction, arts, entertainment, and recreation, and public administration. The average commute to work is about 20 minutes. More than 19.1% of Gulfport residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 6.8%, is lower than the state average.

The unemployment rate in Gulfport is 9.3%, which is less than Mississippi's average of 9.5%.

The percentage of Gulfport residents that are affiliated with a religious congregation, 50.8%, is more than the national average but less than the state average. Saint Johns Catholic Church, Saint James Baptist Church and Broadmoor Baptist Church are all churches located in Gulfport. The most common religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Gulfport is home to the Harrison County Courthouse and the West Side Community Center as well as Cowan Road Field and Harbor Square Park. Shopping centers in the area include Great Southern Shopping Center, Gulf Mart Shopping Center and Hardy Court Shopping Center. Visitors to Gulfport can choose from Best Western Seaway Inn, Crystal Inn and Best Western Seaway for temporary stays in the area.