#CreditAnalyst #EntryLevelPosition #Salary
š¤ Is $21/hr low for an entry level Credit Analyst position?
If you’re wondering whether a $21 per hour salary is competitive for an entry level Credit Analyst position, you’re not alone. Salary expectations can vary based on factors such as location, industry, and level of experience. In this article, we’ll explore the average salary for entry level Credit Analysts, factors that can impact pay, and tips for negotiating your salary.
## Understanding the Average Salary for Entry Level Credit Analysts
When evaluating whether $21/hr is low for an entry level Credit Analyst position, it’s essential to consider the average salary for this role. According to Glassdoor, the national average salary for an entry level Credit Analyst is around $45,000 per year, or approximately $22 per hour. Keep in mind that this figure can fluctuate depending on the specific job market and regional cost of living.
## Factors that Impact Credit Analyst Salaries
Several factors can influence the salary range for entry level Credit Analysts, including:
### 1. Location
– Salaries for Credit Analysts can vary significantly by location. For example, positions in major metropolitan areas like New York City or San Francisco may offer higher pay to offset the higher cost of living.
### 2. Industry
– The industry in which the Credit Analyst is employed can also impact salary. For instance, working in finance or banking may yield a higher salary compared to a position within a non-profit organization.
### 3. Educational Background
– Individuals with advanced degrees or industry certifications may command a higher salary, even at the entry level.
### 4. Experience
– While entry level positions typically offer lower pay, candidates with prior internships, relevant work experience, or specialized skills may qualify for a higher starting salary.
## Tips for Evaluating and Negotiating Salary Offers
If you’ve received a job offer for an entry level Credit Analyst position at $21/hr and want to ensure it’s fair, consider the following tips for evaluating and negotiating your salary:
### 1. Research Comparable Salaries
– Use online resources like Glassdoor, Indeed, and the Bureau of Labor Statistics to research the average salary range for Credit Analysts based on location, industry, and experience level.
### 2. Consider the Cost of Living
– Take into account the cost of living in the area where the job is located. Use cost of living calculators to compare your potential salary to the average expenses in that area.
### 3. Leverage Your Skills and Education
– Highlight any relevant internships, coursework, or certifications that may justify a higher starting salary.
### 4. Practice Salary Negotiation
– If you believe the $21/hr offer is low based on your research and qualifications, consider negotiating with the employer. Practice your negotiation points and be prepared to make a compelling case for a higher salary.
## Conclusion
While $21/hr may seem low for an entry level Credit Analyst position, it’s essential to consider the broader context of average salaries, location, industry, and personal qualifications. By conducting thorough research and effectively negotiating your salary, you can ensure that you’re being fairly compensated for your skills and expertise. Keep in mind that salary expectations can vary widely, and ultimately, the most important factor is finding a role that aligns with your career goals and offers potential for growth and advancement.
You are only $1.29 off from SeaTac, Washington minimum wage ($19.71)
Must be Canada
All depends on the role, size of the company, and location.
If itās in the US, thatās extremely low and disrespectful.
Itās not the highest, but in a tough market itās easier to accept this position and keep applying than to just keep applying. My $.02
I had two credit analyst positions offered out of college for $30 and $24 an hour from credit unions.
I was paid $60k annually with 3% bonus at a credit union. Massachusetts
$21 is low for a shift lead at mcdonalds
Dependsā¦.if this is credit analyst for āBobs hvacā that simply pulls credit reports and approves merely based on credit score or something so basic you do not even need technical skills itās may be ok ($40,000) depending location.
If this is cred anal or corp cred anal in major cityā¦.its pretty low but maybe usable as stepping stone.Ā
U really need display job ad to determine. To be honest, at entry level Iām not 100% trusting inexperienced analyst with much $$$approval and will always have there work double checked costing me $$& until they prove their ability to identify poor credits
Honestly depends on the size of the bank and where youāre located. My starting comp as a credit analyst 3 years ago at a community bank (less than $500M) in a small midwestern town was $40k.
This gotta be in west Africa or smth š
it’s a pretty good salary for third world countries. and i’m not kidding. you can have a more than decent life with this, in a third world country.
Ik credit analyst interns who make 40 and bonuses
yea thats like laughable
Commercial or residential?
Is this an internship or a fulltime job
I make 20/hr as an intern for an RIAā¦
laughably low.
There are people who stock shelves at Walmart for $20.
I made about $30 for corporate credit analyst, so yeah.
WTF
Iām a senior in college and have a job lined up for that at $34 an hour
Iām an entry level credit analyst at $36 an hour. MCOL city