Credit managers are employed by credit-providing institutions, such as credit card companies, and provide assessment over loan/credit card applications – the job of a credit manager is to ensure that a credit applicant meets all requirements and is a prospective candidate who’ll repay the loan in due time. The credit manager must analyze various factors about the applicant, such as whether they’re paying their bills on a timely basis, if they’ve taken out any previous loans, and if they’ve got a long-standing job with a solid salary.
There aren’t any formal requirements for becoming a credit manager, though many companies have their own set of rules and demands, and it’s common for credit card companies to require college/university education from their applicants. A degree in economics or finances is usually highly preferred by most companies, though this isn’t a universal rule as it’s not rare for companies to make exceptions for prospective candidates. Most of the important skills related to the job are taught over the course of employment.
A credit manager tends to be compensated relatively highly, compared to the other employees in the industry – the annual salary for the position ranges between $70,000 and $95,000, and in some cases credit managers have reported even higher regular earnings, going up to $110,000. Credit managers tend to see less workload than their colleagues too, making the job a very prospective and attractive one – though also creating a high level of competition, making it rather hard to find employment in the position.