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Career and Education Opportunities for Credit Analysts in Essex, Vermont

Credit analysts can find both educational opportunities and jobs in the Essex, Vermont area. The national trend for credit analysts 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 $24 hourly or $49,920 annually on average in Vermont. In the U.S. as a whole, their income is about $26 per hour 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 Vermont and not quite as good as general Accounting and Auditing category earnings nationally. People working as credit analysts can fill a number of jobs, such as: underwriter, risk analyst, and credit specialist.

There are fourteen schools of higher education in the Essex area, including three within twenty-five miles of Essex where you can get a degree to start your career as a credit analyst. Credit analysts usually hold a Bachelor's degree, so you can expect to spend about four years studying 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 Essex 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 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.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Credit Analyst Training

Saint Michaels College - Colchester, VT

Saint Michaels College, One Winooski Park, Colchester, VT 05439. Saint Michaels College is a small college located in Colchester, Vermont. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,428 students and an admission rate of 69%. Saint Michaels College has a bachelor's degree program in Accounting which graduated one student in 2008.

Champlain College - Burlington, VT

Champlain College, 163 S. Willard St, Burlington, VT 05401. Champlain College is a small college located in Burlington, Vermont. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,907 students and an admission rate of 73%. Champlain College has less than one year, associate's degree, and bachelor's degree programs in Accounting which graduated seventeen, four, and twenty-six students respectively in 2008.

Community College of Vermont - Waterbury, VT

Community College of Vermont, 103 South Main Street, Waterbury, VT 05676-0120. Community College of Vermont is a medium sized college located in Waterbury, Vermont. It is a public school with primarily 2-year programs and has 5,550 students. Community College of Vermont has an associate's degree program in Accounting which graduated two students in 2008.

LOCATION INFORMATION: Essex, Vermont

Essex, Vermont
Essex, Vermont photo by Fancy-cats-are-happy-cats

Essex is situated in Chittenden County, Vermont. It has a population of over 19,649, which has grown by 5.5% over the last ten years. The cost of living index in Essex, 95, is below the national average. New single-family homes in Essex cost $228,000 on average, which is below the state average. In 2008, six new homes were built in Essex, down from thirteen the previous year.

The three big industries for women in Essex are educational services, health care, and computer and electronic products. For men, it is computer and electronic products, educational services, and construction. The average travel time to work is about 19 minutes. More than 45.6% of Essex residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 17.1%, is higher than the state average.

The unemployment rate in Essex is 4.8%, which is less than Vermont's average of 5.9%. About 2.6% of Essex's residents are below the poverty line, which is better than the state average.

The percentage of Essex residents that are affiliated with a religious congregation, 39.8%, is less than both the national and state average. Federated Church, Covenant Community Church and Essex Alliance Church are among the churches located in Essex. The largest religious groups are the Catholic Church, the United Church of Christ and the United Methodist Church.

Essex is home to the Essex Free Library and the Essex Town Hall.