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Career and Education Opportunities for Credit Analysts in West Valley City, Utah

If you want to be a credit analyst, the West Valley City, Utah area offers many opportunities both for education and employment. Currently, 420 people work as credit analysts in Utah. This is expected to grow by 13% to about 480 people 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. 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.

The income of a credit analyst is about $23 hourly or $49,830 annually on average in Utah. In the U.S. as a whole, their income is about $26 per hour or $55,250 per year on average. Compared with people working in the overall category of Accounting and Auditing, people working as credit analysts in Utah earn more. They earn less than people working in the overall category of Accounting and Auditing nationally. People working as credit analysts can fill a number of jobs, such as: underwriter, credit and collections analyst, and credit administrator.

The West Valley City area is home to thirty-three schools of higher education, including ten within twenty-five miles of West Valley City where you can get a degree as a credit analyst. The most common level of education 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 West Valley City 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

University of Phoenix-Utah Campus - Salt Lake City, UT

University of Phoenix-Utah Campus, 5373 S. Green Street, Salt Lake City, UT 84123-4617. University of Phoenix-Utah Campus is a small university located in Salt Lake City, Utah. It is a private for-profit school with primarily 4-year or above programs and has 2,867 students. University of Phoenix-Utah Campus has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated fifty-one and fifteen students respectively in 2008.
  • Finance, bachelor's degree which graduated 28 students in 2008.

Utah Career College - West Jordan, UT

Utah Career College, 1902 W 7800 S, West Jordan, UT 84088. Utah Career College is a small college located in West Jordan, Utah. It is a private for-profit school with primarily 4-year or above programs. It has 593 students and an admission rate of 95%. Utah Career College has an associate's degree program in Accounting.

Stevens-Henager College - Murray, UT

Stevens-Henager College, 383 W Vine St, Murray, UT 84123-5671. Stevens-Henager College is a small college located in Murray, Utah. It is a private for-profit school with primarily 4-year or above programs and has 823 students. Stevens-Henager College has a bachelor's degree program in Accounting which graduated thirteen students in 2008.

University of Utah - Salt Lake City, UT

University of Utah, 201 Presidents Circle, Salt Lake City, UT 84112-9008. University of Utah is a large university located in Salt Lake City, Utah. It is a public school with primarily 4-year or above programs. It has 28,211 students and an admission rate of 81%. University of Utah has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated 161 and sixty-four students respectively in 2008.
  • Finance, bachelor's degree and master's degree which graduated 230 and twenty-two students respectively in 2008.

Davis Applied Technology College - Kaysville, UT

Davis Applied Technology College, 550 E 300 S, Kaysville, UT 84037-2699. Davis Applied Technology College is a small college located in Kaysville, Utah. It is a public school with primarily 2-year programs and has 2,750 students. Davis Applied Technology College has a one to two year program in Accounting which graduated three students in 2008.

Everest College-West Valley City - West Valley City, UT

Everest College-West Valley City, 3280 W 3500 S, West Valley City, UT 84119-2632. Everest College-West Valley City is a small college located in West Valley City, Utah. It is a private for-profit school with primarily 4-year or above programs. It has 161 students and an admission rate of 75%. Everest College-West Valley City has an associate's degree program in Accounting which graduated eight students in 2008.

Latter-day Saints Business College - Salt Lake City, UT

Latter-day Saints Business College, 95 North 300 West, Salt Lake City, UT 84101-3500. Latter-day Saints Business College is a small college located in Salt Lake City, Utah. It is a private not-for-profit school with primarily 2-year programs and has 1,383 students. Latter-day Saints Business College has an associate's degree program in Accounting which graduated twenty-eight students in 2008.

Brigham Young University - Provo, UT

Brigham Young University, Main Campus, Provo, UT 84602. Brigham Young University is a large university located in Provo, Utah. It is a private not-for-profit school with primarily 4-year or above programs. It has 34,227 students and an admission rate of 69%. Brigham Young University has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated 188 and 101 students respectively in 2008.
  • Finance, bachelor's degree which graduated 189 students in 2008.

Westminster College - Salt Lake City, UT

Westminster College, 1840 South 1300 East, Salt Lake City, UT 84105. Westminster College is a small college located in Salt Lake City, Utah. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,837 students and an admission rate of 81%. Westminster College has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and postbaccalaureate certificate which graduated one and six students respectively in 2008.
  • Finance, bachelor's degree and postbaccalaureate certificate which graduated zero and two students respectively in 2008.

Salt Lake Community College - Salt Lake City, UT

Salt Lake Community College, 4600 S Redwood Rd, Salt Lake City, UT 84123. Salt Lake Community College is a large college located in Salt Lake City, Utah. It is a public school with primarily 2-year programs and has 29,539 students. Salt Lake Community College has a one to two year and an associate's degree program in Finance which graduated one and seven students respectively in 2008.

LOCATION INFORMATION: West Valley City, Utah

West Valley City, Utah
West Valley City, Utah photo by Joe Tordiff

West Valley City is situated in Salt Lake County, Utah. It has a population of over 123,447, which has grown by 13.4% in the past ten years. The cost of living index in West Valley City, 87, is well below the national average. New single-family homes in West Valley City are valued at $108,600 on average, which is far less than the state average. In 2008, ninety-eight new homes were constructed in West Valley City, down from two hundred thirty-five the previous year.

The three most popular industries for women in West Valley City are finance and insurance, health care, and educational services. For men, it is construction, accommodation and food services, and administrative and support and waste management services. The average travel time to work is about 23 minutes. More than 11.4% of West Valley City residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 2.8%, is lower than the state average.

The unemployment rate in West Valley City is 8.3%, which is greater than Utah's average of 6.3%.

The percentage of West Valley City residents that are affiliated with a religious congregation, 67.5%, is more than the national average but less than the state average. The Church of Jesus Christ of Latter Day Saints, Atonement Lutheran Church and Saints Peter and Paul Catholic Church are some of the churches located in West Valley City. The most common religious groups are the LDS (Mormon) Church, the Catholic Church and the Southern Baptist Convention.

West Valley City is home to the Valley Indoor Market Place and the Mini Warehouse Condominium. Shopping malls in the area include Redwood Shopping Center, Valley Fair Mall and Granger Shopping Center.