Career and Education Opportunities for Credit Analysts in Huntington, West Virginia
If you want to be a credit analyst, the Huntington, West Virginia area offers many opportunities both for education and employment. There are currently 160 jobs for credit analysts in West Virginia and this is projected to shrink 9% to about 140 jobs 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%. 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.
Credit analysts earn about $19 per hour or $41,230 yearly on average in West Virginia and about $26 per hour or $55,250 annually on average nationally. Credit analysts earn less than people working in the category of Accounting and Auditing generally in West Virginia and less than people in the Accounting and Auditing category nationally. People working as credit analysts can fill a number of jobs, such as: credit specialist, financing analyst, and risk analyst.
There are seven schools within twenty-five miles of Huntington where you can study to be a credit analyst, among seventeen schools of higher education total in the Huntington area. 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
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 Huntington 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
Shawnee State University - Portsmouth, OH
Shawnee State University, 940 Second St, Portsmouth, OH 45662. Shawnee State University is a small university located in Portsmouth, Ohio. It is a public school with primarily 4-year or above programs and has 3,976 students. Shawnee State University has an associate's degree program in Accounting which graduated five students in 2008.
Gallipolis Career College - Gallipolis, OH
Gallipolis Career College, 1176 Jackson Pke, Suite 312, Gallipolis, OH 45631-2600. Gallipolis Career College is a small college located in Gallipolis, Ohio. It is a private for-profit school with primarily 2-year programs and has 140 students. Gallipolis Career College has a one to two year and an associate's degree program in Accounting which graduated zero and four students respectively in 2008.
Daymar College - New Boston, OH
Daymar College, 3879 Rhodes Ave., New Boston, OH 45662-4900. Daymar College is a small college located in New Boston, Ohio. It is a private for-profit school with primarily 2-year programs and has 121 students. Daymar College has an associate's degree program in Accounting.
Marshall University - Huntington, WV
Marshall University, 1 John Marshall Dr, Huntington, WV 25755. Marshall University is a large university located in Huntington, West Virginia. It is a public school with primarily 4-year or above programs. It has 13,656 students and an admission rate of 87%. Marshall University has 2 areas of study related to Credit Analyst. They are:
- Accounting, bachelor's degree which graduated 42 students in 2008.
- Finance, bachelor's degree which graduated 35 students in 2008.
Southern West Virginia Community and Technical College - Mount Gay, WV
Southern West Virginia Community and Technical College, Dempsey Branch Road, Mount Gay, WV 25637. Southern West Virginia Community and Technical College is a small college located in Mount Gay, West Virginia. It is a public school with primarily 2-year programs and has 2,258 students. Southern West Virginia Community and Technical College has an associate's degree program in Accounting which graduated thirteen students in 2008.
Marshall Community and Technical College - Huntington, WV
Marshall Community and Technical College, 1 John Marshall Way, Huntington, WV 25755. Marshall Community and Technical College is a small college located in Huntington, West Virginia. It is a public school with primarily 2-year programs and has 2,533 students. Marshall Community and Technical College has an associate's degree program in Finance which graduated three students in 2008.
Huntington Junior College - Huntington, WV
Huntington Junior College, 900 Fifth Ave, Huntington, WV 25701. Huntington Junior College is a small college located in Huntington, West Virginia. It is a private for-profit school with primarily 2-year programs and has 774 students. Huntington Junior College has an associate's degree program in Accounting which graduated four students in 2008.
LOCATION INFORMATION: Huntington, West Virginia
Huntington is situated in Cabell County, West Virginia. It has a population of over 49,185, which has shrunk by 4.4% over the last ten years. The cost of living index in Huntington, 84, is well below the national average. New single-family homes in Huntington cost $195,100 on average, which is far greater than the state average. In 2008, sixteen new homes were built in Huntington, down from thirty-five the previous year.
The top three industries for women in Huntington are health care, educational services, and accommodation and food services. For men, it is health care, educational services, and construction. The average travel time to work is about 18 minutes. More than 22.4% of Huntington residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 9.8%, is higher than the state average.
The unemployment rate in Huntington is 7.7%, which is the same as West Virginia's average of 7.7%. About 24.7% of Huntington's residents are below the poverty line, which is worse than the state average.
The percentage of Huntington residents that are affiliated with a religious congregation, 42.7%, is less than the national average but more than the state average. Glorious Church of God in Christ, South Side United Methodist Church and Good Samaritan United Methodist Church are some of the churches located in Huntington. The largest religious groups are the American Baptist Churches in the USA, the United Methodist Church and the Catholic Church.
Huntington is home to the Northcott Hall and the Foster Memorial Home as well as Holderby Commons and United States Post Office and Courthouse Historic District. Shopping malls in the area include Westland Plaza Shopping Center, Fairfield Plaza Shopping Center and Huntington Plaza Shopping Center. Visitors to Huntington can choose from Super 8, Cabell Huntington Hospital and Garden Park for temporary stays in the area.