Credit Analyst’s job is to determine the creditworthiness of any individual/firm/project, He needs to understand the financial background, compile historical information, search for gray areas, if any, and try to make a correct judgement about the financial viability of the project. He also needs to understand the peculiarities of the industry and any updates in which the company operates.
- A major chunk of time is spent at the desk researching, analyzing and reporting financial and operational data leading to credit assessment.
- Several cases are usually processed simultaneously, hence you maybe working on two or more separate analyses on any given day.
- Meetings with clients / internal teams / travelling to company sites take up a lot of time as well. Preparing materials like reports or notes needed for these meetings is also part of the analyst’s job.
- Analysts may also need to do some administrative tasks like arranging logistics for site visits or preparing internal memos etc.
- Analysts might have to spend some time answering phone queries of their clients or explain terms which are not easy for laymen to understand.
- A Credit Analyst typically has better work hours compared to other financial analyst profiles (like in IB or ER). You don’t usually need to put in very long hours or all-nighters, however, it might differ in exceptional cases.
Salary and perks:
- The starting salary for Credit Analysts is around INR 5-7 Lakhs per annum. Bonuses may be available, but are not the norm
- Perks include traveling to client sites and exposure to rating boards that comprise the bigwigs of Credit Analysis
As per the client’s requirements, or for meeting deadline, you may be required to put in some extra hours of time. Since it requires liasioning with different clients, Credit Analysts have to be vigilant and need to hone their communication skills. While juggling various duties, time management is equally essential.