To become a credit analyst you have to follow the steps that will teach how you can have a career in this field. Depending on the company, this job can be an entry level where even fresh college graduates can join. In some companies however, they require applicants to have some experience gained from another or the same industry.
Get a business degree
As long as you are a graduate of a four year course you can apply as a credit analyst. But there are companies that look only for business course graduates so having a degree in this field can increase your chances. As a credit analyst you will be required to understand basic financial terms that must be put in writing when you make your report.
Learn how to write reports
A credit analyst is required to write a report regarding a particular assignment. The head of the credit unit as well as other departments will make a decision based on the report submitted. Therefore the credit analyst must not only be able to submit an accurate report but also one that is well-written.
Apply to companies
Banks and financial institutions are the companies that have continuing need for credit analysts. They also have a corporate ladder where you can be promoted to handle bigger responsibilities later on. But there are also companies where a credit analyst career can be pursued. When it comes to looking for companies to join, you can do an online search of big companies.
By visiting websites of companies and checking on the available career opportunities you can narrow down your choices. Regularly checking on college job boards and classified ads of newspapers can also help in getting you hired faster. It would also be a big help in landing a job if you can join an apprenticeship program related to credit analyst work.
Be ready to do heavy fieldwork
The job of a credit analyst can require you to do a lot of fieldwork. Depending on the company you are employed, you can be made to conduct background investigation, skip tracing, and other fieldwork aside from the usual job of a credit analyst. This is because some companies also include in the job criteria of a credit analyst the job of a credit investigator.
If you are already employed and want to make a career shift to become a credit analyst, you have to possess the basic requirements of the company. Asking to be transferred in a department where the job is related to that of a credit analyst is your first step.