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Career and Education Opportunities for Credit Analysts in Columbus, Ohio

Many educational and employment opportunities exist for credit analysts in the Columbus, Ohio area. There are currently 2,210 working credit analysts in Ohio; this should shrink by 5% to 2,090 working credit analysts in the state by 2016. 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.

The income of a credit analyst is about $24 hourly or $50,730 yearly on average in Ohio. In the U.S. as a whole, their income is about $26 hourly or $55,250 annually on average. Incomes for credit analysts are not quite as good as in the overall category of Accounting and Auditing in Ohio, and not quite as good as the overall Accounting and Auditing category nationally. Credit analysts work in a variety of jobs, including: escrow representative, credit manager, and factorer.

There are nine schools within twenty-five miles of Columbus where you can study to be a credit analyst, among sixty-three schools of higher education total in the Columbus area. Credit analysts usually hold a Bachelor's degree, so 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 Columbus 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.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • 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.
  • 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

Mount Vernon Nazarene University - Mount Vernon, OH

Mount Vernon Nazarene University, 800 Martinsburg Rd, Mount Vernon, OH 43050-9500. Mount Vernon Nazarene University is a small university located in Mount Vernon, Ohio. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,558 students and an admission rate of 79%. Mount Vernon Nazarene University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree.
  • Finance, bachelor's degree and master's degree which graduated one and zero students respectively in 2008.

Otterbein College - Westerville, OH

Otterbein College, One Otterbein College, Westerville, OH 43081. Otterbein College is a small college located in Westerville, Ohio. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,131 students and an admission rate of 82%. Otterbein College has a bachelor's degree program in Accounting.

Ohio Dominican University - Columbus, OH

Ohio Dominican University, 1216 Sunbury Road, Columbus, OH 43219. Ohio Dominican University is a small university located in Columbus, Ohio. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,117 students and an admission rate of 68%. Ohio Dominican University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree.
  • Finance, bachelor's degree which graduated 1 student in 2008.

Capital University - Columbus, OH

Capital University, 1 College and Main, Columbus, OH 43209-2394. Capital University is a small university located in Columbus, Ohio. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,632 students and an admission rate of 77%. Capital University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree which graduated 14 students in 2008.
  • Finance, bachelor's degree which graduated 7 students in 2008.

Ohio Wesleyan University - Delaware, OH

Ohio Wesleyan University, 61 S Sandusky Street, Delaware, OH 43015-2370. Ohio Wesleyan University is a small university located in Delaware, Ohio. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,952 students and an admission rate of 64%. Ohio Wesleyan University has a bachelor's degree program in Accounting.

Central Ohio Technical College - Newark, OH

Central Ohio Technical College, 1179 University Drive, Newark, OH 43055-1767. Central Ohio Technical College is a small college located in Newark, Ohio. It is a public school with primarily 2-year programs and has 3,584 students. Central Ohio Technical College has an associate's degree program in Accounting which graduated eight students in 2008.

Franklin University - Columbus, OH

Franklin University, 201 S Grant Ave, Columbus, OH 43215-5399. Franklin University is a medium sized university located in Columbus, Ohio. It is a private not-for-profit school with primarily 4-year or above programs and has 7,823 students. Franklin University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, associate's degree and bachelor's degree which graduated thirteen and seven students respectively in 2008.
  • Finance, associate's degree and bachelor's degree which graduated seven and five students respectively in 2008.

Everest Institute-Gahanna - Gahanna, OH

Everest Institute-Gahanna, 825 Tech Center Dr, Gahanna, OH 43230. Everest Institute-Gahanna is a small school located in Gahanna, Ohio. It is a private for-profit school with primarily less-than 2-year programs. It has 647 students and an admission rate of 61%. Everest Institute-Gahanna has a less than one year program in Accounting which graduated sixteen students in 2008.

Ohio State University-Main Campus - Columbus, OH

Ohio State University-Main Campus, 190 N. Oval Mall, Columbus, OH 43210. Ohio State University-Main Campus is a large university located in Columbus, Ohio. It is a public school with primarily 4-year or above programs. It has 53,715 students and an admission rate of 62%. Ohio State University-Main Campus has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree, master's degree, and doctor's degree which graduated forty-five, eighty-nine, and one students respectively in 2008.
  • Finance, bachelor's degree which graduated 55 students in 2008.

LOCATION INFORMATION: Columbus, Ohio

Columbus, Ohio
Columbus, Ohio photo by Xnatedawgx

Columbus is located in Franklin County, Ohio. It has a population of over 754,885, which has grown by 6.1% in the past ten years. The cost of living index in Columbus, 82, is well below the national average. New single-family homes in Columbus cost $169,200 on average, which is well below the state average. In 2008, six hundred eighty-six new homes were constructed in Columbus, down from 1,008 the previous year.

The three big industries for women in Columbus are health care, educational services, and finance and insurance. For men, it is accommodation and food services, professional, scientific, and technical services, and construction. The average travel time to work is about 22 minutes. More than 29.0% of Columbus residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 9.2%, is higher than the state average.

The unemployment rate in Columbus is 8.5%, which is less than Ohio's average of 10.0%.

The percentage of Columbus residents that are affiliated with a religious congregation, 37.6%, is less than both the national and state average. Hebrew Baptist Church, Heritage Temple Freewill Baptist Church and Higher Ground Always Abounding Assembly Church are all churches located in Columbus. The largest religious groups are the Catholic Church, the United Methodist Church and the Evangelical Lutheran Church in America.

Columbus is home to the Busch Corporate Center Industrial Park and the J C Penney Catalog Outlet Store as well as Nafzger Park and Lower Scioto Park. Shopping centers in the area include Indianola Shopping Center, Ohio Stater Mall Shopping Center and Shapter Shopping Center. Visitors to Columbus can choose from Drury Inn & Suites Convention Center, Best Western Clarmont Inn and Crowne Plaza Downtown for temporary stays in the area.