Career and Education Opportunities for Credit Analysts in Columbia, South Carolina
Many educational and employment opportunities exist for credit analysts in the Columbia, South Carolina area. The national trend for credit analysts 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 $23 hourly or $48,340 annually on average in South Carolina. In the U.S. as a whole, their income is about $26 hourly or $55,250 per year on average. Credit analysts earn more than people working in the category of Accounting and Auditing generally in South Carolina and less than people in the Accounting and Auditing category nationally. Jobs in this field include: financial analyst, financing analyst, and credit risk analyst.
There are six schools within twenty-five miles of Columbia where you can study to be a credit analyst, among twenty schools of higher education total in the Columbia area. Credit analysts usually hold a Bachelor's degree, so 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 Columbia 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.
- Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
- 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
University of South Carolina-Columbia - Columbia, SC
University of South Carolina-Columbia, , Columbia, SC 29208. University of South Carolina-Columbia is a large university located in Columbia, South Carolina. It is a public school with primarily 4-year or above programs. It has 27,500 students and an admission rate of 59%. University of South Carolina-Columbia has 2 areas of study related to Credit Analyst. They are:
- Accounting, bachelor's degree and master's degree which graduated ten and fifty-three students respectively in 2008.
- Finance, bachelor's degree which graduated 44 students in 2008.
Columbia College - Columbia, SC
Columbia College, 1301 Columbia College Dr, Columbia, SC 29203. Columbia College is a small college located in Columbia, South Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,405 students and an admission rate of 77%. Columbia College has a bachelor's degree program in Accounting which graduated one student in 2008.
South University - Columbia, SC
South University, 9 Science Court, Columbia, SC 29203. South University is a small university located in Columbia, South Carolina. It is a private for-profit school with primarily 4-year or above programs. It has 1,099 students and an admission rate of 60%. South University has an associate's degree program in Accounting which graduated one student in 2008.
Midlands Technical College - West Columbia, SC
Midlands Technical College, 1260 Lexington Drive, West Columbia, SC 29170-2176. Midlands Technical College is a large college located in West Columbia, South Carolina. It is a public school with primarily 2-year programs and has 11,157 students. Midlands Technical College has an associate's degree program in Accounting which graduated forty-three students in 2008.
Orangeburg Calhoun Technical College - Orangeburg, SC
Orangeburg Calhoun Technical College, 3250 Saint Matthews Rd, Orangeburg, SC 29118-8299. Orangeburg Calhoun Technical College is a small college located in Orangeburg, South Carolina. It is a public school with primarily 2-year programs and has 2,605 students. Orangeburg Calhoun Technical College has a less than one year and an associate's degree program in Accounting which graduated two and fifteen students respectively in 2008.
Benedict College - Columbia, SC
Benedict College, 1600 Harden Street, Columbia, SC 29204-1086. Benedict College is a small college located in Columbia, South Carolina. It is a private not-for-profit school with primarily 4-year or above programs and has 2,892 students. Benedict College has a bachelor's degree program in Accounting which graduated sixteen students in 2008.
LOCATION INFORMATION: Columbia, South Carolina
Columbia is located in Richland County, South Carolina. It has a population of over 127,029, which has grown by 9.2% over the last ten years. The cost of living index in Columbia, 86, is well below the national average. New single-family homes in Columbia cost $142,700 on average, which is well below the state average. In 2008, four hundred thirty-four new homes were built in Columbia, down from seven hundred the previous year.
The three most popular industries for women in Columbia are educational services, health care, and public administration. For men, it is educational services, public administration, and accommodation and food services. The average commute to work is about 18 minutes. More than 35.7% of Columbia residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 14.3%, is higher than the state average.
The unemployment rate in Columbia is 16.1%, which is greater than South Carolina's average of 12.0%.
The percentage of Columbia residents that are affiliated with a religious congregation, 41.6%, is less than both the national and state average. Progressive Church, Bishop Memorial African Methodist Episcopal Church and Lutheran Seminary are among the churches located in Columbia. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.
Columbia is home to the Booker T Washington Center and the Longstreet Annex as well as Irwin Park and Columbia Historic District II. Shopping centers in the area include Five Points Shopping Center, Market Place Shopping Center and Columbiana Centre Shopping Center. Visitors to Columbia can choose from Marriott Columbia, Hampton Inn Columbia-SE-Fort Jackson and Embassy Suites Hotel for temporary stays in the area.