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Career and Education Opportunities for Credit Analysts in Lubbock, Texas

For those living in the Lubbock, Texas area, there are many career and education opportunities for credit analysts. There are currently 5,070 jobs for credit analysts in Texas and this is projected to grow by 6% to about 5,360 jobs by 2016. This is not quite as good as 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.

The income of a credit analyst is about $25 per hour or $53,520 yearly on average in Texas. In the U.S. as a whole, their income is about $26 hourly or $55,250 per year on average. Earnings for credit analysts are not quite as good as earnings in the general category of Accounting and Auditing in Texas and not quite as good as general Accounting and Auditing category earnings nationally. Jobs in this field include: credit specialist, financing analyst, and underwriter.

There are two schools within twenty-five miles of Lubbock where you can study to be a credit analyst, among nine schools of higher education total in the Lubbock area. Credit analysts usually hold a Bachelor's degree, so 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 Lubbock 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.
  • 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.
  • 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

Texas Tech University - Lubbock, TX

Texas Tech University, Broadway and University Avenue, Lubbock, TX 79409-5005. Texas Tech University is a large university located in Lubbock, Texas. It is a public school with primarily 4-year or above programs. It has 28,422 students and an admission rate of 72%. Texas Tech University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated eighteen and sixty-two students respectively in 2008.
  • Finance, bachelor's degree which graduated 19 students in 2008.

Lubbock Christian University - Lubbock, TX

Lubbock Christian University, 5601 19th Street, Lubbock, TX 79407-2099. Lubbock Christian University is a small university located in Lubbock, Texas. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,868 students and an admission rate of 67%. Lubbock Christian University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree which graduated 6 students in 2008.
  • Finance, bachelor's degree which graduated 7 students in 2008.

LOCATION INFORMATION: Lubbock, Texas

Lubbock, Texas
Lubbock, Texas photo by Voltin

Lubbock is situated in Lubbock County, Texas. It has a population of over 220,483, which has grown by 10.5% over the last ten years. The cost of living index in Lubbock, 79, is well below the national average. New single-family homes in Lubbock are priced at $171,700 on average, which is below the state average. In 2008, nine hundred twenty-nine new homes were constructed in Lubbock, up from eight hundred eighty the previous year.

The top three industries for women in Lubbock are health care, educational services, and accommodation and food services. For men, it is educational services, construction, and accommodation and food services. The average commute to work is about 16 minutes. More than 26.6% of Lubbock residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 9.3%, is higher than the state average.

The unemployment rate in Lubbock is 5.3%, which is less than Texas's average of 8.1%.

The percentage of Lubbock residents that are affiliated with a religious congregation, 59.7%, is more than both the national and state average. Pentecostal Holiness Church, Philia Temple Church of God and Christ and Pilgrim Baptist Church are all churches located in Lubbock. The most common religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Lubbock is home to the South Overton Residential Historic District and the Kress Building as well as Lowery Field and Rocky Johnson Field. Visitors to Lubbock can choose from Barcelonacourt of Lubbock, Circus Inn and Carriage House Inn & Suites for temporary stays in the area.