Average Credit Analysts Salary in New York-Newark-Jersey City, NY-NJ
Credit Analysts in the New York-Newark-Jersey City, NY-NJ metropolitan area earn a substantial average annual salary of $148,610. This figure significantly outpaces the national average of $98,110, reflecting the region's dynamic financial sector and high demand for specialized financial expertise. The concentration of major financial institutions and corporate headquarters in this area directly influences the compensation offered to skilled credit professionals.
Executive Summary
- Average Salary: $148,610 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $231,560.
- Outlook: The job market for Credit Analysts in the New York-Newark-Jersey City, NY-NJ area appears robust, supported by a local workforce of 7,820 professionals. The Location Quotient of 1.91 indicates a concentration of these roles nearly double the national average, suggesting a strong and sustained demand for credit analysis expertise within this specific region.
Salary Overview
The average Credit Analysts in New York-Newark-Jersey City, NY-NJ earns+51.5%above the national average.
$71.5
$2,858
$12,384
Credit Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Credit Analysts in a major financial hub like New York-Newark-Jersey City have experienced consistent growth over the past four years. Factors such as inflation, increasing complexity in financial markets, and a steady demand for skilled analysts typically drive upward salary trends in such competitive environments.
Credit Analysts Salary Distribution in New York-Newark-Jersey City, NY-NJ
Salary progression for Credit Analysts in New York-Newark-Jersey City, NY-NJ typically scales with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with extensive experience and specialized skills can command salaries in the upper percentiles. The significant gap between entry-level and senior roles underscores the career advancement opportunities and increased earning potential available as one gains expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $78,570 | $37.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $111,458 | $53.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $133,180 | $64 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $185,763 | $89.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $231,560 | $111.3 |
Detailed Credit Analysts Market Analysis
Relocation Context
Nominal Salary
$148,610
Gross Pay
Real Wage (Purchasing Power)
$148,610
Adjusted for COL (100)
The nominal average salary of $148,610 in New York-Newark-Jersey City, NY-NJ is perfectly aligned with the national average Cost of Living Index of 100. This means that while the salary is exceptionally high compared to the national average, the cost of living in this metropolitan area does not diminish its purchasing power relative to the rest of the country, offering a strong financial standing for Credit Analysts.
Job Market Context
7,820
Total Jobs
0.836
Per 1K Jobs
1.91
Location Quotient
New York-Newark-Jersey City, NY-NJ has 1.9x the national concentration of Credit Analysts jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
With a Location Quotient of 1.91, the New York-Newark-Jersey City, NY-NJ area exhibits a significantly higher concentration of Credit Analyst roles than the national average. This suggests a highly competitive job market where employers actively seek out talent, but also indicates a rich ecosystem of opportunities for professionals in this field.
Nearby Job Markets
Nearby Cities for Credit Analysts
| City | Salary | Dist. |
|---|---|---|
| Kiryas Joel-Poughkeepsie-Newburgh, NY Credit Analysts Salary | $99,640↓ 33% | 44 mi |
| Trenton-Princeton, NJ Credit Analysts Salary | $101,830↓ 31% | 52 mi |
| Bridgeport-Stamford-Danbury, CT Credit Analysts Salary | $111,120↓ 25% | 54 mi |
| New Haven, CT Credit Analysts Salary | $91,220↓ 39% | 70 mi |
| Waterbury-Shelton, CT Credit Analysts Salary | $81,850↓ 45% | 77 mi |
Comparing salaries near New York-Newark-Jersey City, NY-NJ
Hiring Credit Analystss?
Frequently Asked Questions
How much does a Credit Analysts make in New York-Newark-Jersey City, NY-NJ?
The median annual salary for a Credit Analysts in New York-Newark-Jersey City, NY-NJ is $148,610. This typically ranges from $78,570 for entry-level positions to $231,560 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York-Newark-Jersey City, NY-NJ is 51.5% higher than the national median of $98,110.
Is New York-Newark-Jersey City, NY-NJ a lucrative place for Credit Analysts?
Yes, it is a highly lucrative place for Credit Analysts.The average salary of $148,610 is substantially higher than the national average, and the cost of living is on par with the national average, indicating strong purchasing power.
Is New York-Newark-Jersey City, NY-NJ a good place to live for Credit Analysts?
The Cost of Living Index in New York-Newark-Jersey City, NY-NJ is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York-Newark-Jersey City, NY-NJ?
Some top paying nearby cities include Kiryas Joel-Poughkeepsie-Newburgh, NY ($99,640) and Trenton-Princeton, NJ.
How does the Credit Analyst salary in NY-NJ compare to the national average?
The average annual salary for Credit Analysts in the New York-Newark-Jersey City, NY-NJ area is $148,610, which is approximately 51% higher than the national average of $98,110.
What is the concentration of Credit Analysts in the NY-NJ area?
The concentration, measured by the Location Quotient, is 1.91, meaning there are nearly twice as many Credit Analysts per worker in this region compared to the national average.
Does the high salary in NY-NJ come with a higher cost of living?
No, the Cost of Living Index for New York-Newark-Jersey City, NY-NJ is 100, which is the national average. This means the higher salary offers greater real value.
How many Credit Analysts work in the NY-NJ area?
There are approximately 7,820 Credit Analysts employed in the New York-Newark-Jersey City, NY-NJ metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 7,820 employees in the New York-Newark-Jersey City, NY-NJ area with a job density of 0.836 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Credit Analysts Salaries by State
Top Jobs in New York-Newark-Jersey City, NY-NJ
- All Occupations Salary in New York-Newark-Jersey City, NY-NJ
- Office and Administrative Support Occupations Salary in New York-Newark-Jersey City, NY-NJ
- Healthcare Support Occupations Salary in New York-Newark-Jersey City, NY-NJ
- Sales and Related Occupations Salary in New York-Newark-Jersey City, NY-NJ
- Business and Financial Operations Occupations Salary in New York-Newark-Jersey City, NY-NJ
- Transportation and Material Moving Occupations Salary in New York-Newark-Jersey City, NY-NJ
- Food Preparation and Serving Related Occupations Salary in New York-Newark-Jersey City, NY-NJ
- Management Occupations Salary in New York-Newark-Jersey City, NY-NJ
- Educational Instruction and Library Occupations Salary in New York-Newark-Jersey City, NY-NJ
- Home Health and Personal Care Aides Salary in New York-Newark-Jersey City, NY-NJ
- Browse All Jobs in New York-Newark-Jersey City, NY-NJ →
Semantic Salary Analysis for Credit Analysts • Data source: BLS OEWS 2024 •Jobs in New York-Newark-Jersey City, NY-NJ