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Average Credit Analysts Salary in Ohio

In Ohio, Credit Analysts earn an average annual salary of $79,970, which is notably below the national average of $98,110. This disparity can often be attributed to a combination of regional economic factors, industry concentration, and the overall cost of doing business within the state, influencing compensation benchmarks.

Executive Summary

  • Average Salary: $79,970 per year.
  • Growth Trend: Salaries have shifted 2.8% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $127,650.
  • Outlook: With a local workforce of 2,850 Credit Analysts and a Location Quotient of 1.18, Ohio demonstrates a slightly higher concentration of these professionals than the national average. This suggests a stable, albeit not booming, demand for credit analysis expertise within the state, indicating a robust job market for skilled individuals.
2024 Market Data

Salary Overview

$79,970

The average Credit Analysts in Ohio earns-18.5%below the national average.

BreakdownBased on 40h/week
Hourly

$38.5

Weekly

$1,538

Monthly

$6,664

Credit Analysts Salary Distribution in Ohio

The career trajectory for Credit Analysts in Ohio typically involves salary increases with experience. Entry-level positions might start closer to the lower end of the pay scale, while senior analysts with extensive experience and specialized skills can command salaries significantly higher than the average. These percentile gaps clearly signify opportunities for career progression and increased earning potential.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$49,020$23.6
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$59,978$28.8
ManagerOversees team, compliance, and project delivery.50% (Median)$67,970$32.7
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$99,963$48.1
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$127,650$61.4

Detailed Credit Analysts Market Analysis

Relocation Context

Nominal Salary

$79,970

Gross Pay

Real Wage (Purchasing Power)

$88,073

Adjusted for COL (90.8)

The average nominal salary of $79,970 in Ohio presents a favorable financial picture when considering the local Cost of Living Index of 90.8. Since this index is below the national average of 100, the purchasing power of a Credit Analyst's salary in Ohio is effectively higher than the raw dollar amount might suggest, offering a good quality of life.

Job Market Context

2,850

Total Jobs

0.516

Per 1K Jobs

1.18

Location Quotient

Above Average

With a location quotient of 1.18, Ohio has a slightly higher-than-average concentration of Credit Analysts roles compared to the national norm.

Ohio's Location Quotient of 1.18 indicates a slightly higher concentration of Credit Analysts compared to the national average. This suggests that while the market is not oversaturated, there is a healthy presence of these roles, making it a competitive yet accessible environment for both employers seeking talent and professionals looking for opportunities.

Nearby Job Markets

Nearby Cities for Credit Analysts

CitySalaryDist.
Columbus, OH Credit Analysts Salary$80,610↑ 1%32 mi

Comparing salaries near Ohio

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Frequently Asked Questions

How much does a Credit Analysts make in Ohio?

The median annual salary for a Credit Analysts in Ohio is $79,970. This typically ranges from $49,020 for entry-level positions to $127,650 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Ohio is 18.5% lower than the national median of $98,110.

Is Ohio a lucrative place for Credit Analysts?

Yes, with a caveat.While the average salary is below the national benchmark, Ohio's lower cost of living significantly enhances the purchasing power of the $79,970 average salary, making it financially advantageous.

Is Ohio a good place to live for Credit Analysts?

With a Cost of Living Index of 90.8 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Ohio?

Some top paying nearby cities include Columbus, OH ($80,610) and others.

How does the number of Credit Analysts in Ohio compare nationally?

Ohio has 2,850 Credit Analysts, and with a Location Quotient of 1.18, the state has a slightly higher concentration of these professionals than the national average.

What is the job outlook for Credit Analysts in Ohio?

The outlook appears stable, with a concentration slightly above the national average suggesting consistent demand for skilled credit analysts within the state's economy.

How does the cost of living impact a Credit Analyst's salary in Ohio?

The cost of living in Ohio is 9.2% lower than the national average, meaning the $79,970 salary offers greater purchasing power than it would in a higher-cost state.

Can experience significantly increase a Credit Analyst's salary in Ohio?

Absolutely. As Credit Analysts gain experience, their salaries typically increase, with senior roles commanding significantly higher compensation than entry-level positions.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,850 employees in the Ohio area with a job density of 0.516 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Credit Analysts • Data source: BLS OEWS 2024 •Jobs in Ohio