Career and Education Opportunities for Credit Analysts in Utah
Utah has a population of 2,784,572, which has grown by 24.69% over the past decade. Nicknamed the "Beehive State," Utah's capital and largest city is Salt Lake City.
About 420 people are currently employed as credit analysts in Utah. By 2016, this is expected to grow by 13% to 480 people employed. 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.
The income of a credit analyst is about $23 hourly or $49,830 per year on average in Utah. In the U.S. as a whole, their income is about $26 per hour or $55,250 yearly on average. Incomes for credit analysts are better than in the overall category of Accounting and Auditing in Utah, and not quite as good as the overall Accounting and Auditing category nationally. Jobs in this field include: underwriter, credit specialist, and risk analyst.
In 2008, there were a total of 1,702,493 jobs in Utah. The average annual income was $32,050 in 2008, up from $31,800 the preceding year. The unemployment rate in Utah was 6.6% in 2009, which has grown by 2.9% since the previous year. Approximately 26.1% of Utah residents have college degrees, which is higher than the national average.
The top industries in Utah include activities related to credit intermediation, nonferrous metal production, and sporting goods manufacturing. Notable tourist destinations include the University Health Care, the Utah Museum of Natural History, and the Utah Museum of Arts & History.
CITIES WITH Credit Analyst OPPORTUNITIES IN Utah
JOB DESCRIPTION: Credit Analyst
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.
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.
Similar jobs with educational opportunities in Utah 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.
LOCATION INFORMATION: Utah
Utah has a population of 2,784,572, which has grown by 24.69% in the last 10 years. Nicknamed the "Beehive State," Utah's capital and biggest city is Salt Lake City. In 2008, there were a total of 1,702,493 jobs in Utah. The average annual income was $32,050 in 2008, up from $31,800 in 2007. The unemployment rate in Utah was 6.6% in 2009, which has grown by 2.9% since the previous year. Approximately 26.1% of Utah residents have college degrees, which is higher than the national average.
The top industries in Utah include activities related to credit intermediation, nonferrous metal production, and sporting goods manufacturing. Notable tourist destinations include the Utah State Government, the Hogle Zoo, and the Utah Museum of Natural History.