Career and Education Opportunities for Credit Analysts in Jackson, Mississippi
Credit analysts can find both educational opportunities and jobs in the Jackson, Mississippi area. There are currently 200 jobs for credit analysts in Mississippi and this is projected to grow by 9% 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 about $23 hourly or $48,030 yearly on average in Mississippi and about $26 per hour or $55,250 per year on average nationally. Compared with people working in the overall category of Accounting and Auditing, people working as credit analysts in Mississippi earn more. They earn less than people working in the overall category of Accounting and Auditing nationally. Jobs in this field include: credit negotiator, credit specialist, and underwriter.
There are seventeen schools of higher education in the Jackson area, including four within twenty-five miles of Jackson where you can get a degree to start your career 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 Jackson 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
Jackson State University - Jackson, MS
Jackson State University, 1440 J R Lynch St, Jackson, MS 39217. Jackson State University is a medium sized university located in Jackson, Mississippi. It is a public school with primarily 4-year or above programs. It has 8,530 students and an admission rate of 36%. Jackson State University has 2 areas of study related to Credit Analyst. They are:
- Accounting, bachelor's degree and master's degree which graduated fifty-six and fifteen students respectively in 2008.
- Finance, bachelor's degree which graduated 18 students in 2008.
Millsaps College - Jackson, MS
Millsaps College, 1701 N State St, Jackson, MS 39210-0001. Millsaps College is a small college located in Jackson, Mississippi. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,118 students and an admission rate of 77%. Millsaps College has a bachelor's degree and a master's degree program in Accounting which graduated zero and sixteen students respectively in 2008.
Belhaven College - Jackson, MS
Belhaven College, 1500 Peachtree St, Jackson, MS 39202. Belhaven College is a small college located in Jackson, Mississippi. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,583 students and an admission rate of 61%. Belhaven College has a one to two year and a bachelor's degree program in Accounting which graduated zero and two students respectively in 2008.
Mississippi College - Clinton, MS
Mississippi College, 200 South Capitol Street, Clinton, MS 39058. Mississippi College is a small college located in Clinton, Mississippi. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,788 students and an admission rate of 62%. Mississippi College has a bachelor's degree program in Accounting which graduated forty-two students in 2008.
LOCATION INFORMATION: Jackson, Mississippi
Jackson is situated in Hinds County, Mississippi. It has a population of over 173,861, which has shrunk by 5.6% in the past ten years. The cost of living index in Jackson, 83, is well below the national average. New single-family homes in Jackson cost $101,700 on average, which is well below the state average. In 2008, four hundred fifty-six new homes were built in Jackson, up from two hundred twenty-three the previous year.
The three big industries for women in Jackson are health care, educational services, and accommodation and food services. For men, it is construction, accommodation and food services, and educational services. The average travel time to work is about 20 minutes. More than 27.1% of Jackson residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 10.2%, is higher than the state average.
The unemployment rate in Jackson is 9.2%, which is less than Mississippi's average of 9.5%.
The percentage of Jackson residents that are affiliated with a religious congregation, 55.4%, is more than both the national and state average. Bibleway Baptist Church, Saint Johns Missionary Baptist Church and Saint John Deliverance Temple Number 2 are some of the churches located in Jackson. The most common religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.
Jackson is home to the Riverhills Country Club and the Colonial Country Club as well as Smith-Wills Stadium and Lefleurs Bluff State Park. Shopping malls in the area include North Terry Road Shopping Center, Northside Shopping Center and Northtown Village Shopping Center. Visitors to Jackson can choose from Days Inn-Coliseum, Econo Lodge and Regal Sales Office for temporary stays in the area.