Credit managers, sometimes referred to as financial clerks, are responsible for the administrative aspects of financial transactions in a variety of settings including banking, health care and government agencies. They may work closely with customers at financial institutions, but their chief duties are comprised of using computer software to process credit requests, authorize lines of credit and keep records for financial and legal reasons.
Credit Manager Education
After obtaining a high school diploma, training at a vocational school or an associate degree may help applicants gain a foothold in securing a position as a credit manager. Employers in finance and banking may prefer candidates who have a bachelor's degree or higher in finance, administration or business. Most credit managers will receive on-the-job training for up to two years, and some may need to be licensed by the state in order to provide specific services to clients.
Credit Manager Job Market
Employment opportunities for credit managers are expected to increase by 11 percent between 2012 and 2022, which is about as fast as the national average for all occupations. Employment growth will be the fastest in medical fields as the consumer demand for health care services increases. Changes in insurance programs may also lead to more available positions at insurance companies as well as hospitals and government agencies related to health care.
Positions in finance and banking may not experience growth as quickly as those in the medical field due to more institutions using automated account services. Credit managers who deal in real estate-related transactions may also experience an increase in job growth from previous years, but this will follow trends in the overall real estate market, which varies by locale.
Credit Manager Salary
The national median salary for a credit manager is $35,000. Depending on the size of the financial institution, a credit manager may make upwards of $50,000 per year.