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Career and Education Opportunities for Credit Analysts in Midland, Texas

Credit analysts can find both educational opportunities and jobs in the Midland, Texas area. There are currently 5,070 working credit analysts in Texas; this should grow 6% to about 5,360 working credit analysts in the state by 2016. This is not quite as good as 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.

A person working as a credit analyst can expect to earn about $25 per hour or $53,520 per year on average in Texas and about $26 hourly or $55,250 yearly on average in the U.S. as a whole. Credit analysts earn less than people working in the category of Accounting and Auditing generally in Texas and less than people in the Accounting and Auditing category nationally. People working as credit analysts can fill a number of jobs, such as: underwriter, credit and collections analyst, and credit specialist.

The Midland area is home to five schools of higher education, including three within twenty-five miles of Midland where you can get a degree 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 Midland 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

The University of Texas of the Permian Basin - Odessa, TX

The University of Texas of the Permian Basin, 4901 E University, Odessa, TX 79762-0001. The University of Texas of the Permian Basin is a small university located in Odessa, Texas. It is a public school with primarily 4-year or above programs. It has 3,560 students and an admission rate of 98%. The University of Texas of the Permian Basin has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated thirty-six and one students respectively in 2008.
  • Finance, bachelor's degree which graduated 20 students in 2008.

American Commercial College-Odessa - Odessa, TX

American Commercial College-Odessa, 5119 Twin Towers, Odessa, TX 79762. American Commercial College-Odessa is a small college located in Odessa, Texas. It is a private for-profit school with primarily less-than 2-year programs and has 77 students. American Commercial College-Odessa has a less than one year program in Accounting which graduated thirteen students in 2008.

Midland College - Midland, TX

Midland College, 3600 N Garfield, Midland, TX 79705. Midland College is a medium sized college located in Midland, Texas. It is a public school with primarily 4-year or above programs and has 4,372 students. Midland College has an associate's degree program in Accounting.

LOCATION INFORMATION: Midland, Texas

Midland, Texas
Midland, Texas photo by Billy_Hathorn

Midland is situated in Midland County, Texas. It has a population of over 106,561, which has grown by 12.2% over the last ten years. The cost of living index in Midland, 80, is well below the national average. New single-family homes in Midland cost $117,500 on average, which is far less than the state average. In 2008, four hundred eighty-three new homes were built in Midland, down from five hundred fourteen the previous year.

The three big industries for women in Midland are health care, educational services, and mining, quarrying, and oil and gas extraction. For men, it is mining, quarrying, and oil and gas extraction, construction, and health care. The average commute to work is about 17 minutes. More than 27.2% of Midland residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.0%, is lower than the state average.

The unemployment rate in Midland is 5.7%, which is less than Texas's average of 8.1%.

The percentage of Midland residents that are affiliated with a religious congregation, 61.5%, is more than both the national and state average. Alamo Heights Church, Ellis Chapel North Church and Primera Iglesia Bautista Church are among the churches located in Midland. The most common religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Midland is home to the Windmill Number Three and the Ranchland Hills Country Club as well as Tolbert Park and Doug Russell Park. Visitors to Midland can choose from Best Inn & Suites - Harrys Bar & Grill, Bradford Inn and Budget Inn for temporary stays in the area.