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Career and Education Opportunities for Credit Analysts in Madison, Wisconsin

Many educational and employment opportunities exist for credit analysts in the Madison, Wisconsin area. About 980 people are currently employed as credit analysts in Wisconsin. By 2016, this is expected to shrink by 4% to about 940 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. 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.

A person working as a credit analyst can expect to earn about $21 hourly or $45,720 yearly on average in Wisconsin and about $26 per hour or $55,250 per year on average in the U.S. as a whole. Compared with people working in the overall category of Accounting and Auditing, people working as credit analysts in Wisconsin earn less. They earn less than people working in the overall category of Accounting and Auditing nationally. Credit analysts work in a variety of jobs, including: loan review analyst, escrow representative, and credit and collections analyst.

There are thirteen schools of higher education in the Madison area, including four within twenty-five miles of Madison where you can get a degree to start your career as a credit analyst. Credit analysts usually hold a Bachelor's degree, so 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 Madison 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.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • 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.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • 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.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • 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 Wisconsin-Madison - Madison, WI

University of Wisconsin-Madison, 500 Lincoln Dr, Madison, WI 53706-1380. University of Wisconsin-Madison is a large university located in Madison, Wisconsin. It is a public school with primarily 4-year or above programs. It has 41,581 students and an admission rate of 63%. University of Wisconsin-Madison has 2 areas of study related to Credit Analyst. They are:

  • Accounting, bachelor's degree and master's degree which graduated twenty-five and sixty-eight students respectively in 2008.
  • Finance, bachelor's degree and master's degree which graduated fifty-one and thirty-six students respectively in 2008.

Blackhawk Technical College - Janesville, WI

Blackhawk Technical College, 6004 County Road G, Janesville, WI 53547-5009. Blackhawk Technical College is a small college located in Janesville, Wisconsin. It is a public school with primarily 2-year programs and has 2,755 students. Blackhawk Technical College has an associate's degree program in Accounting which graduated twelve students in 2008.

Edgewood College - Madison, WI

Edgewood College, 1000 Edgewood College Drive, Madison, WI 53711-1997. Edgewood College is a small college located in Madison, Wisconsin. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,544 students and an admission rate of 76%. Edgewood College has a bachelor's degree program in Accounting which graduated two students in 2008.

Madison Area Technical College - Madison, WI

Madison Area Technical College, 3550 Anderson St, Madison, WI 53704. Madison Area Technical College is a large college located in Madison, Wisconsin. It is a public school with primarily 4-year or above programs and has 14,553 students. Madison Area Technical College has 2 areas of study related to Credit Analyst. They are:

  • Accounting, associate's degree which graduated 85 students in 2008.
  • Finance, associate's degree which graduated 15 students in 2008.

LOCATION INFORMATION: Madison, Wisconsin

Madison, Wisconsin
Madison, Wisconsin photo by Dori

Madison is situated in Dane County, Wisconsin. It has a population of over 231,916, which has grown by 11.5% in the past ten years. The cost of living index in Madison, 86, is well below the national average. New single-family homes in Madison are valued at $243,800 on average, which is near the state average. In 2008, one hundred forty-eight new homes were constructed in Madison, down from three hundred seventy-four the previous year.

The top three industries for women in Madison are educational services, health care, and finance and insurance. For men, it is educational services, professional, scientific, and technical services, and accommodation and food services. The average travel time to work is about 18 minutes. More than 48.2% of Madison residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 20.9%, is higher than the state average.

The unemployment rate in Madison is 5.2%, which is less than Wisconsin's average of 7.7%.

The percentage of Madison residents that are affiliated with a religious congregation, 52.5%, is more than the national average but less than the state average. Gates of Heaven Synagogue, Abundant Life Church and Grace Episcopal Church are some of the churches located in Madison. The most common religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.

Madison is home to the Allen Centennial Gardens and the Annie C Stewart Memorial Fountain as well as Bordner Park and Brigham Park. Shopping centers in the area include Brookwood Village Shopping Center, Whitney Square Shopping Center and Walnut Grove Shopping Center. Visitors to Madison can choose from Comfort Inn Madison, Howard Johnson-Plaza Hotel and Country Inn Sts Madison for temporary stays in the area.