Popular Careers

Career Development

Career development resources for aspiring professionals.

Career Change Center

Career change guides, tutorials and resources for professionals in transition.

Job Search Resources

Job search resources, websites, guides and directories for job seekers.


Career and Education Opportunities for Credit Analysts in Sioux Falls, South Dakota

Sioux Falls, South Dakota provides a wide variety of opportunities, both career and educational, for credit analysts. 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 yearly on average in South Dakota. Nationally, their income is about $26 hourly or $55,250 annually. Earnings for credit analysts are better than earnings in the general category of Accounting and Auditing in South Dakota and not quite as good as general Accounting and Auditing category earnings nationally. Credit analysts work in a variety of jobs, including: credit manager, escrow representative, and credit representative.

There are ten schools of higher education in the Sioux Falls area, including six within twenty-five miles of Sioux Falls where you can get a degree to start your career as a credit analyst. 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

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 Sioux Falls 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.

EDUCATIONAL OPPORTUNITIES: Credit Analyst Training

Southeast Technical Institute - Sioux Falls, SD

Southeast Technical Institute, 2320 N Career Ave, Sioux Falls, SD 57107-1301. Southeast Technical Institute is a small school located in Sioux Falls, South Dakota. It is a public school with primarily 2-year programs and has 2,138 students. Southeast Technical Institute has an associate's degree program in Accounting which graduated seventeen students in 2008.

Colorado Technical University of Sioux Falls - Sioux Falls, SD

Colorado Technical University of Sioux Falls, 3901 W 59th St, Sioux Falls, SD 57108-2272. Colorado Technical University of Sioux Falls is a small university located in Sioux Falls, South Dakota. It is a private for-profit school with primarily 4-year or above programs and has 1,080 students. Colorado Technical University of Sioux Falls has 2 areas of study related to Credit Analyst. They are:

  • Accounting, associate's degree and bachelor's degree which graduated fifteen and eight students respectively in 2008.
  • Finance, bachelor's degree which graduated 4 students in 2008.

National American University-Sioux Falls - Sioux Falls, SD

National American University-Sioux Falls, Vista Park Office Building Suite 100, 2801 South Kiwanis Ave, Sioux Falls, SD 57105-4293. National American University-Sioux Falls is a small university located in Sioux Falls, South Dakota. It is a private for-profit school with primarily 4-year or above programs and has 391 students. National American University-Sioux Falls has an associate's degree and a bachelor's degree program in Accounting which graduated one and zero students respectively in 2008.

Kilian Community College - Sioux Falls, SD

Kilian Community College, 300 E. 6th Street, Sioux Falls, SD 57103-7020. Kilian Community College is a small college located in Sioux Falls, South Dakota. It is a private not-for-profit school with primarily 2-year programs and has 330 students. Kilian Community College has an associate's degree program in Accounting.

University of Sioux Falls - Sioux Falls, SD

University of Sioux Falls, 1101 W 22nd St, Sioux Falls, SD 57105-1699. University of Sioux Falls is a small university located in Sioux Falls, South Dakota. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,564 students and an admission rate of 97%. University of Sioux Falls has a bachelor's degree program in Accounting which graduated eleven students in 2008.

Augustana College - Sioux Falls, SD

Augustana College, 2001 S Summit Ave, Sioux Falls, SD 57197-0001. Augustana College is a small college located in Sioux Falls, South Dakota. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,754 students and an admission rate of 81%. Augustana College has a bachelor's degree program in Accounting which graduated two students in 2008.

LOCATION INFORMATION: Sioux Falls, South Dakota

Sioux Falls, South Dakota
Sioux Falls, South Dakota photo by AlexiusHoratius

Sioux Falls is located in Minnehaha County, South Dakota. It has a population of over 154,997, which has grown by 25.0% over the last ten years. The cost of living index in Sioux Falls, 81, is well below the national average. New single-family homes in Sioux Falls cost $149,700 on average, which is above the state average. In 2008, five hundred eighty-six new homes were built in Sioux Falls, down from 1,000 the previous year.

The three big industries for women in Sioux Falls are health care, finance and insurance, and educational services. For men, it is construction, finance and insurance, and accommodation and food services. The average commute to work is about 16 minutes. More than 27.8% of Sioux Falls residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.6%, is lower than the state average.

The unemployment rate in Sioux Falls is 5.1%, which is greater than South Dakota's average of 4.5%.

The percentage of Sioux Falls residents that are affiliated with a religious congregation, 66.8%, is more than both the national and state average. Messiah Church, Sunnycrest Church and First Convenant Church are some of the churches located in Sioux Falls. The most prominent religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.

Sioux Falls is home to the Elmwood Golf Course and the Cactus Hills Country Club as well as Pioneers of Minnehaha County Monument and Picasso Park. Visitors to Sioux Falls can choose from Kelly Inn, Fairfield Inn Sioux Falls and Albert House for temporary stays in the area.