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Career and Education Opportunities for Credit Analysts in Albuquerque, New Mexico

Credit analysts can find both educational opportunities and jobs in the Albuquerque, New Mexico area. The national trend for credit analysts sees this job pool growing by about 15.0% over the next eight years. 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 approximately $23 hourly or $49,280 annually on average in New Mexico. Nationally they average about $26 per hour or $55,250 per year. Incomes for credit analysts are not quite as good as in the overall category of Accounting and Auditing in New Mexico, and not quite as good as the overall Accounting and Auditing category nationally. Jobs in this field include: risk analyst, credit risk analyst, and financing analyst.

There are seventeen schools of higher education in the Albuquerque area, including six within twenty-five miles of Albuquerque 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

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 Albuquerque 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 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.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Credit Analyst Training

Central New Mexico Community College - Albuquerque, NM

Central New Mexico Community College, 525 Buena Vista SE, Albuquerque, NM 87106. Central New Mexico Community College is a large college located in Albuquerque, New Mexico. It is a public school with primarily 2-year programs and has 24,690 students. Central New Mexico Community College has one to two year, associate's degree, and two to four year programs in Accounting which graduated four, fifty-nine, and twenty-two students respectively in 2008.

University of Phoenix-New Mexico Campus - Albuquerque, NM

University of Phoenix-New Mexico Campus, 5700 Pasadena NE, Albuquerque, NM 87113-1570. University of Phoenix-New Mexico Campus is a small university located in Albuquerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 3,303 students. University of Phoenix-New Mexico Campus has associate's degree, bachelor's degree, and master's degree programs in Accounting which graduated three, forty, and five students respectively in 2008.

University of New Mexico-Main Campus - Albuquerque, NM

University of New Mexico-Main Campus, , Albuquerque, NM 87131-0001. University of New Mexico-Main Campus is a large university located in Albuquerque, New Mexico. It is a public school with primarily 4-year or above programs. It has 24,105 students and an admission rate of 71%. University of New Mexico-Main Campus has a master's degree program in Accounting which graduated thirty-four students in 2008.

National American University-Albuquerque - Albuequerque, NM

National American University-Albuquerque, 4775 Indian School Road NE, Suite 200, Albuequerque, NM 87110-3976. National American University-Albuquerque is a small university located in Albuequerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 360 students. National American University-Albuquerque has an associate's degree and a bachelor's degree program in Accounting which graduated zero and five students respectively in 2008.

IIA College - Albuquerque, NM

IIA College, 4201 Central Ave Nw-Ste J, Albuquerque, NM 87105. IIA College is a small college located in Albuquerque, New Mexico. It is a private for-profit school with primarily 4-year or above programs and has 315 students. IIA College has an associate's degree program in Accounting which graduated one student in 2008.

College of Santa Fe at Albuquerque - Albuquerque, NM

College of Santa Fe at Albuquerque, 4501 Indian School Rd NE, Albuquerque, NM 87110. College of Santa Fe at Albuquerque is a small college located in Albuquerque, New Mexico. It is a private not-for-profit school with primarily 4-year or above programs. It has 761 students and an admission rate of 100%. College of Santa Fe at Albuquerque has a bachelor's degree program in Accounting which graduated nineteen students in 2008.

LOCATION INFORMATION: Albuquerque, New Mexico

Albuquerque, New Mexico
Albuquerque, New Mexico photo by Debernardi

Albuquerque is situated in Bernalillo County, New Mexico. It has a population of over 521,999, which has grown by 16.4% in the past ten years. The cost of living index in Albuquerque, 89, is well below the national average. New single-family homes in Albuquerque cost $176,100 on average, which is above the state average. In 2008, 1,067 new homes were built in Albuquerque, down from 2,096 the previous year.

The three big industries for women in Albuquerque are health care, educational services, and accommodation and food services. For men, it is construction, professional, scientific, and technical services, and educational services. The average commute to work is about 20 minutes. More than 31.8% of Albuquerque residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.4%, is higher than the state average.

The unemployment rate in Albuquerque is 6.9%, which is less than New Mexico's average of 7.5%.

The percentage of Albuquerque residents that are affiliated with a religious congregation, 54.7%, is more than the national average but less than the state average. Heights Seventh Day Adventist Church, Hope Church and Baptist Student Union are some of the churches located in Albuquerque. The most common religious groups are the Catholic Church, the Southern Baptist Convention and the Non-Charismatic Churches Independent.

Albuquerque is home to the Menaul School Historic District and the Volcano Ranch as well as Cutler Park and Eunice Kaloch Park. Shopping centers in the area include Del Norte Parkade Shopping Center, Westway Shopping Center and Winrock Shopping Center. Visitors to Albuquerque can choose from Winrock Inn-Best Western, New Mexico State Government - Health Department- Behavioral Health Services Divi and Motel 6 for temporary stays in the area.