Career and Education Opportunities for Credit Analysts in Rapid City, South Dakota
Credit analysts can find many career and educational opportunities in the Rapid City, South Dakota area. About 410 people are currently employed as credit analysts in South Dakota. By 2016, this is expected to grow by 16% to 480 people employed. This is better than the national trend for credit analysts, which 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.
Income for credit analysts is about $23 per hour or $48,860 annually on average in South Dakota. Nationally, their income is about $26 per hour or $55,250 annually. Credit analysts earn more than people working in the category of Accounting and Auditing generally in South Dakota and less than people in the Accounting and Auditing category nationally. People working as credit analysts can fill a number of jobs, such as: credit administrator, credit negotiator, and credit assessment analyst.
There are three schools within twenty-five miles of Rapid City where you can study to be a credit analyst, among six schools of higher education total in the Rapid City area. Given that the most common education level for credit analysts is a Bachelor's degree, 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 Rapid City 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.
- 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 Dakota Technical Institute - Rapid City, SD
Western Dakota Technical Institute, 800 Mickelson Dr, Rapid City, SD 57703-4018. Western Dakota Technical Institute is a small school located in Rapid City, South Dakota. It is a public school with primarily 2-year programs. It has 959 students and an admission rate of 97%. Western Dakota Technical Institute has an associate's degree program in Accounting which graduated fifteen students in 2008.
National American University-Rapid City - Rapid City, SD
National American University-Rapid City, 321 Kansas City Street, Rapid City, SD 57701-3692. National American University-Rapid City is a small university located in Rapid City, South Dakota. It is a private for-profit school with primarily 4-year or above programs and has 1,644 students. National American University-Rapid City has an associate's degree and a bachelor's degree program in Accounting which graduated one and thirteen students respectively in 2008.
National American University-Ellsworth AFB Extension - Ellsworth AFB, SD
National American University-Ellsworth AFB Extension, 1000 Ellsworth Street Suite 2400-B, Ellsworth AFB, SD 57706. National American University-Ellsworth AFB Extension is a small university located in Ellsworth AFB, South Dakota. It is a private for-profit school with primarily 4-year or above programs and has 323 students. National American University-Ellsworth AFB Extension has a bachelor's degree program in Accounting which graduated one student in 2008.
LOCATION INFORMATION: Rapid City, South Dakota
Rapid City is situated in Pennington County, South Dakota. It has a population of over 65,491, which has grown by 9.9% over the last ten years. The cost of living index in Rapid City, 84, is well below the national average. New single-family homes in Rapid City are priced at $147,700 on average, which is near the state average. In 2008, one hundred ninety-eight new homes were constructed in Rapid City, down from two hundred fifty-three the previous year.
The three big industries for women in Rapid City are health care, educational services, and accommodation and food services. For men, it is construction, accommodation and food services, and public administration. The average commute to work is about 16 minutes. More than 26.7% of Rapid City residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 8.8%, is higher than the state average.
The unemployment rate in Rapid City is 5.7%, which is greater than South Dakota's average of 4.5%.
The percentage of Rapid City residents that are affiliated with a religious congregation, 62.8%, is more than the national average but less than the state average. The most common religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the Lutheran Church.
Rapid City is home to the Lazy J RV Park and Campground and the Pioneer Museum as well as College Park and Dinosaur Park. Shopping malls in the area include Haines Station Shopping Center, Baken Park Shopping Center and Baken Park Shopping Center. Visitors to Rapid City can choose from Lazy U Motel, Stardust Motel and Motel Town House for temporary stays in the area.