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Career and Education Opportunities for Credit Analysts in Charleston, West Virginia

Many educational and employment opportunities exist for credit analysts in the Charleston, West Virginia area. About 160 people are currently employed as credit analysts in West Virginia. By 2016, this is expected to shrink by 9% to about 140 people employed. 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.

Credit analysts earn approximately $19 per hour or $41,230 per year on average in West Virginia. Nationally they average about $26 per hour or $55,250 annually. Incomes for credit analysts are not quite as good as in the overall category of Accounting and Auditing in West Virginia, and not quite as good as the overall Accounting and Auditing category nationally. Credit analysts work in a variety of jobs, including: financial analyst, escrow representative, and underwriter.

There are four schools within twenty-five miles of Charleston where you can study to be a credit analyst, among seventeen schools of higher education total in the Charleston area. Given that the most common education level for credit analysts is a Bachelor's degree, 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 Charleston 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 Charleston - Charleston, WV

University of Charleston, 2300 MacCorkle Avenue, SE, Charleston, WV 25304. University of Charleston is a small university located in Charleston, West Virginia. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,431 students and an admission rate of 66%. University of Charleston has 2 areas of study related to Credit Analyst. They are:

  • Accounting, associate's degree and bachelor's degree which graduated two and eight students respectively in 2008.
  • Finance, bachelor's degree which graduated 2 students in 2008.

West Virginia State Community and Technical College - Institute, WV

West Virginia State Community and Technical College, 103 Cole Complex, Institute, WV 25112-1000. West Virginia State Community and Technical College is a small college located in Institute, West Virginia. It is a public school with primarily 2-year programs and has 1,741 students. West Virginia State Community and Technical College has an associate's degree program in Finance which graduated two students in 2008.

West Virginia State University - Institute, WV

West Virginia State University, Rte 25, Institute, WV 25112-1000. West Virginia State University is a small university located in Institute, West Virginia. It is a public school with primarily 4-year or above programs. It has 3,347 students and an admission rate of 57%. West Virginia State University has a postbaccalaureate certificate program in Accounting which graduated one student in 2008.

West Virginia University Institute of Technology - Montgomery, WV

West Virginia University Institute of Technology, 405 Fayette Pke, Montgomery, WV 25136. West Virginia University Institute of Technology is a small university located in Montgomery, West Virginia. It is a public school with primarily 4-year or above programs. It has 1,185 students and an admission rate of 46%. West Virginia University Institute of Technology has a bachelor's degree program in Accounting which graduated five students in 2008.

LOCATION INFORMATION: Charleston, West Virginia

Charleston, West Virginia
Charleston, West Virginia photo by Malepheasant

Charleston is situated in Kanawha County, West Virginia. It has a population of over 50,302, which has shrunk by 5.8% over the last ten years. The cost of living index in Charleston, 84, is well below the national average. New single-family homes in Charleston are priced at $268,400 on average, which is far greater than the state average. In 2008, thirty-four new homes were constructed in Charleston, up from twenty-seven the previous year.

The three most popular industries for women in Charleston are health care, educational services, and public administration. For men, it is professional, scientific, and technical services, health care, and public administration. The average travel time to work is about 16 minutes. More than 32.6% of Charleston residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 15.0%, is higher than the state average.

The unemployment rate in Charleston is 7.7%, which is the same as West Virginia's average of 7.7%. About 16.7% of Charleston's residents are below the poverty line, which is better than the state average.

The percentage of Charleston residents that are affiliated with a religious congregation, 34.5%, is less than both the national and state average. Starcher Baptist Church, Southeast Church of the Nazarene and South Ruffner Presbyterian Church are among the churches located in Charleston. The largest religious groups are the American Baptist Churches in the USA, the United Methodist Church and the Catholic Church.

Charleston is home to the John F Kennedy Center and the Kanawha County Courthouse as well as Watt Powell Stadium and Ruffner Memorial Park. Shopping centers in the area include Patrick Street Plaza Shopping Center, Laidley Court Shopping Center and Plaza East Shopping Center. Visitors to Charleston can choose from Days Inn Charleston East WV, Motel 6 and Fairfield Inn Charleston for temporary stays in the area.