Career and Education Opportunities for Credit Analysts in Reno, Nevada
Credit analysts can find many career and educational opportunities in the Reno, Nevada area. Currently, 450 people work as credit analysts in Nevada. This is expected to grow 20% to about 540 people by 2016. This is better than the nation as a whole, where employment opportunities for credit analysts are expected to grow by about 15.0%. 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.
Credit analysts earn about $26 per hour or $55,380 per year on average in Nevada and about $26 per hour or $55,250 yearly on average nationally. Incomes for credit analysts are not quite as good as in the overall category of Accounting and Auditing in Nevada, and not quite as good as the overall Accounting and Auditing category nationally. Credit analysts work in a variety of jobs, including: analyst, risk analyst, and loan review analyst.
There are eleven schools of higher education in the Reno area, including three within twenty-five miles of Reno 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. 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
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 Reno 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.
- 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
Western Nevada College - Carson City, NV
Western Nevada College, 2201 West College Parkway, Carson City, NV 89703-7399. Western Nevada College is a small college located in Carson City, Nevada. It is a public school with primarily 4-year or above programs and has 4,755 students. Western Nevada College has a one to two year and an associate's degree program in Accounting which graduated two and eleven students respectively in 2008.
University of Nevada-Reno - Reno, NV
University of Nevada-Reno, , Reno, NV 89557. University of Nevada-Reno is a large university located in Reno, Nevada. It is a public school with primarily 4-year or above programs. It has 16,851 students and an admission rate of 90%. University of Nevada-Reno has 2 areas of study related to Credit Analyst. They are:
- Accounting, bachelor's degree and master's degree which graduated two and eight students respectively in 2008.
- Finance, bachelor's degree and master's degree which graduated six and four students respectively in 2008.
Truckee Meadows Community College - Reno, NV
Truckee Meadows Community College, 7000 Dandini Blvd, Reno, NV 89512-3999. Truckee Meadows Community College is a large college located in Reno, Nevada. It is a public school with primarily 2-year programs and has 12,277 students. Truckee Meadows Community College has an associate's degree program in Accounting.
LOCATION INFORMATION: Reno, Nevada
Reno is situated in Washoe County, Nevada. It has a population of over 217,016, which has grown by 20.2% over the last ten years. The cost of living index in Reno, 93, is below the national average. New single-family homes in Reno are priced at $202,100 on average, which is well above the state average. In 2008, six hundred thirty-seven new homes were built in Reno, down from nine hundred ninety-seven the previous year.
The three big industries for women in Reno are arts, entertainment, and recreation, health care, and accommodation and food services. For men, it is arts, entertainment, and recreation, construction, and accommodation and food services. The average commute to work is about 18 minutes. More than 25.0% of Reno residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 8.4%, is higher than the state average.
The unemployment rate in Reno is 11.8%, which is less than Nevada's average of 12.6%.
The percentage of Reno residents that are affiliated with a religious congregation, 27.9%, is less than both the national and state average. The most common religious groups are the Catholic Church, the LDS (Mormon) Church and the Southern Baptist Convention.
Reno is home to the Short Ranch and the Keystone Square as well as Wilkinson Park and Paradise Park. Shopping centers in the area include Miraloma Park Shopping Center, Village Shopping Center and University Village East Shopping Center. Visitors to Reno can choose from Oxford Motel, Atlantis Casino Resort and Wayside Motel & Apartments for temporary stays in the area.