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Career and Education Opportunities for Credit Analysts in Knoxville, Tennessee

There is a wide variety of career and education opportunities for credit analysts in the Knoxville, Tennessee area. There are currently 1,170 jobs for credit analysts in Tennessee and this is projected to grow 16% to 1,360 jobs by 2016. 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. 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.

A person working as a credit analyst can expect to earn about $23 per hour or $49,610 annually on average in Tennessee and about $26 hourly or $55,250 yearly on average in the U.S. as a whole. Incomes for credit analysts are not quite as good as in the overall category of Accounting and Auditing in Tennessee, and not quite as good as the overall Accounting and Auditing category nationally. People working as credit analysts can fill a number of jobs, such as: credit specialist, risk analyst, and analyst.

There are fifteen schools of higher education in the Knoxville area, including three within twenty-five miles of Knoxville where you can get a degree to start your career as a credit analyst. Given that the most common education level for credit analysts is a Bachelor's degree, it will take about four years to learn 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 Knoxville 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 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

South College - Knoxville, TN

South College, 3904 Lonas Road, Knoxville, TN 37909-0000. South College is a small college located in Knoxville, Tennessee. It is a private for-profit school with primarily 4-year or above programs. It has 850 students and an admission rate of 100%. South College has an associate's degree program in Accounting which graduated one student in 2008.

Carson-Newman College - Jefferson City, TN

Carson-Newman College, 1646 S Russell Ave, Jefferson City, TN 37760. Carson-Newman College is a small college located in Jefferson City, Tennessee. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,032 students and an admission rate of 71%. Carson-Newman College has a bachelor's degree program in Accounting which graduated six students in 2008.

The University of Tennessee - Knoxville, TN

The University of Tennessee, Circle Park, Knoxville, TN 37996. The University of Tennessee is a large university located in Knoxville, Tennessee. It is a public school with primarily 4-year or above programs. It has 30,406 students and an admission rate of 71%. The University of Tennessee has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated three and fifty-four students respectively in 2008.
  • Finance, bachelor's degree which graduated 8 students in 2008.

LOCATION INFORMATION: Knoxville, Tennessee

Knoxville, Tennessee
Knoxville, Tennessee photo by Huntster

Knoxville is located in Knox County, Tennessee. It has a population of over 184,802, which has grown by 6.3% in the past ten years. The cost of living index in Knoxville, 84, is well below the national average. New single-family homes in Knoxville are valued at $105,300 on average, which is well below the state average. In 2008, two hundred forty-one new homes were built in Knoxville, down from six hundred twenty-seven the previous year.

The three big industries for women in Knoxville are health care, educational services, and accommodation and food services. For men, it is educational services, construction, and accommodation and food services. The average travel time to work is about 20 minutes. More than 24.6% of Knoxville residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 9.5%, is higher than the state average.

The unemployment rate in Knoxville is 9.0%, which is less than Tennessee's average of 10.2%.

The percentage of Knoxville residents that are affiliated with a religious congregation, 62.0%, is more than both the national and state average. Lincoln Park United Methodist Church, Springhill Baptist Church and Lincoln Park Baptist Church are all churches located in Knoxville. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.

Knoxville is home to the Eastern State Hospital Farm and the Berry Hall as well as Volunteer Park and Neyland Stadium. Shopping malls in the area include Clinton Plaza Shopping Center, Walker Springs Plaza Shopping Center and Northgate Plaza Shopping Center. Visitors to Knoxville can choose from Homewood Suites Knoxville West, Days Inn and Days Inn Knoxville West for temporary stays in the area.