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Career and Education Opportunities for Credit Analysts in New Mexico

New Mexico has a population of 2,009,671, which has grown by 10.48% over the past decade. Nicknamed the "The Land of Enchantment," its capital is Santa Fe, though its largest city is Albuquerque.

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 about $23 per hour or $49,280 per year on average in New Mexico and about $26 hourly 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 New Mexico, 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 specialist, financial analyst, and credit risk analyst.

In 2008, there were a total of 1,117,433 jobs in New Mexico. The average annual income was $33,389 in 2008, up from $32,093 the preceding year. The unemployment rate in New Mexico was 7.2% in 2009, which has grown by 2.7% since the previous year. Approximately 23.5% of New Mexico residents have college degrees, which is lower than the national average.

The top industries in New Mexico include casinos (except casino hotels), other nonmetallic mineral mining, and all other miscellaneous ambulatory health care services. Notable tourist attractions include the National Hispanic Cultural Center, the Albuquerque City Government, and the Hispanic Cultural Foundation.

CITIES WITH Credit Analyst OPPORTUNITIES IN New Mexico


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 New Mexico 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: New Mexico

New Mexico
New Mexico photo by karol m

New Mexico has a population of 2,009,671, which has grown by 10.48% over the past decade. Nicknamed the "The Land of Enchantment," its capital is Santa Fe, though its largest city is Albuquerque. In 2008, there were a total of 1,117,433 jobs in New Mexico. The average annual income was $33,389 in 2008, up from $32,093 the preceding year. The unemployment rate in New Mexico was 7.2% in 2009, which has grown by 2.7% since the previous year. About 23.5% of New Mexico residents have college degrees, which is lower than the national average.

The top industries in New Mexico include casinos (except casino hotels), other nonmetallic mineral mining, and all other miscellaneous ambulatory health care services. Notable tourist destinations include the Albuquerque City Government, the Flowers by ZACH, and the Rattlesnake Museum & Gift Shop.