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Career and Education Opportunities for Credit Analysts in Chattanooga, Tennessee

There are many career and education opportunities for credit analysts in the Chattanooga, Tennessee area. There are currently 1,170 jobs for credit analysts in Tennessee and this is projected to grow 16% to about 1,360 jobs by 2016. This is better than the nation as a whole, where employment opportunities for credit analysts are expected to grow by about 15.0%. 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 per hour or $49,610 per year on average in Tennessee. In the U.S. as a whole, their income is about $26 per hour or $55,250 per year on average. Credit analysts earn less than people working in the category of Accounting and Auditing generally in Tennessee and less than people in the Accounting and Auditing category nationally. Credit analysts work in a variety of jobs, including: credit representative, credit specialist, and credit and collections analyst.

The Chattanooga area is home to twenty schools of higher education, including four within twenty-five miles of Chattanooga where you can get a degree as a credit analyst. The most common level of education for credit analysts is a Bachelor's degree. 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 Chattanooga 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

Tennessee Temple University - Chattanooga, TN

Tennessee Temple University, 1815 Union Ave, Chattanooga, TN 37404. Tennessee Temple University is a small university located in Chattanooga, Tennessee. It is a private not-for-profit school with primarily 4-year or above programs. It has 706 students and an admission rate of 24%. Tennessee Temple University has a bachelor's degree program in Finance which graduated three students in 2008.

The University of Tennessee at Chattanooga - Chattanooga, TN

The University of Tennessee at Chattanooga, 615 McCallie Ave, Chattanooga, TN 37403-2598. The University of Tennessee at Chattanooga is a medium sized university located in Chattanooga, Tennessee. It is a public school with primarily 4-year or above programs. It has 9,807 students and an admission rate of 79%. The University of Tennessee at Chattanooga has a master's degree program in Accounting which graduated six students in 2008.

Lee University - Cleveland, TN

Lee University, 1120 N Ocoee St, Cleveland, TN 37311. Lee University is a small university located in Cleveland, Tennessee. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,147 students and an admission rate of 64%. Lee University has a bachelor's degree program in Accounting which graduated one student in 2008.

Southern Adventist University - Collegedale, TN

Southern Adventist University, 4881 Taylor Cir, Collegedale, TN 37315-0370. Southern Adventist University is a small university located in Collegedale, Tennessee. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,731 students and an admission rate of 70%. Southern Adventist University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, associate's degree, bachelor's degree, and master's degree which graduated one, ten, and two students respectively in 2008.
  • Finance, bachelor's degree which graduated 4 students in 2008.

LOCATION INFORMATION: Chattanooga, Tennessee

Chattanooga, Tennessee
Chattanooga, Tennessee photo by Avala

Chattanooga is situated in Hamilton County, Tennessee. It has a population of over 170,880, which has grown by 9.9% in the past ten years. The cost of living index in Chattanooga, 85, is well below the national average. New single-family homes in Chattanooga are priced at $141,100 on average, which is below the state average. In 2008, two hundred sixty-two new homes were built in Chattanooga, down from four hundred forty-one the previous year.

The top three industries for women in Chattanooga are health care, educational services, and finance and insurance. For men, it is construction, accommodation and food services, and health care. The average commute to work is about 20 minutes. More than 21.5% of Chattanooga residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.5%, is higher than the state average.

The unemployment rate in Chattanooga is 9.5%, which is less than Tennessee's average of 10.2%.

The percentage of Chattanooga residents that are affiliated with a religious congregation, 58.2%, is more than both the national and state average. Stuart Heights Baptist Church, Kings Point Church and Stanley United Methodist Church are some of the churches located in Chattanooga. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Non-Charismatic Churches Independent.

Chattanooga is home to the Creeks Bend Golf Club and the Concord Golf Course as well as Warner Park and Ross Landing City Park. Shopping malls in the area include Northgate Mall, Northgate Crossing Shopping Center and Lee Plaza East Shopping Center. Visitors to Chattanooga can choose from Holiday Inn Express Hotel & Suites, Crystal Air Sport Motel and Hampton Inn Chattanooga I-75 North for temporary stays in the area.