Average Credit Analysts Salary in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Credit Analysts in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area are earning an impressive average annual salary of $106,810. This figure notably surpasses the national average of $98,110, suggesting a strong demand and potentially higher value placed on financial analysis expertise within this specific metropolitan region. The localized economic landscape and industry concentration likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $106,810 per year.
- Growth Trend: Salaries have shifted 21.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $190,760.
- Outlook: With a local workforce of 1,710 Credit Analysts and a Location Quotient of 1.36, the job market in Philadelphia-Camden-Wilmington indicates a robust and concentrated demand for these professionals. A Location Quotient above 1.0 signifies that the region employs a higher proportion of Credit Analysts relative to the national average, suggesting a healthy and potentially growing job market with ample opportunities for skilled individuals.
Salary Overview
The average Credit Analysts in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD earns+8.9%above the national average.
$51.4
$2,054
$8,901
Credit Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Credit Analysts in Philadelphia-Camden-Wilmington have experienced consistent growth over the past four years, mirroring national trends. Economic expansion, evolving financial regulations, and increasing demand for sophisticated risk assessment likely contribute to upward pressure on compensation for these vital roles.
Credit Analysts Salary Distribution in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Career progression for Credit Analysts in Philadelphia-Camden-Wilmington typically correlates with experience, leading to significant salary increases. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive experience and specialized skills can command salaries in the upper percentiles, reflecting a clear path for career advancement and earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $60,130 | $28.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $80,108 | $38.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $87,730 | $42.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $133,513 | $64.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $190,760 | $91.7 |
Detailed Credit Analysts Market Analysis
Relocation Context
Nominal Salary
$106,810
Gross Pay
Real Wage (Purchasing Power)
$106,810
Adjusted for COL (100)
The average annual salary of $106,810 for Credit Analysts in Philadelphia-Camden-Wilmington aligns perfectly with the national average Cost of Living Index of 100. This means that the higher nominal salary effectively translates to purchasing power that is on par with the national average, making the region financially stable for those in this profession without a significant cost-of-living penalty.
Job Market Context
1,710
Total Jobs
0.595
Per 1K Jobs
1.36
Location Quotient
With a location quotient of 1.36, Philadelphia-Camden-Wilmington, PA-NJ-DE-MD has a slightly higher-than-average concentration of Credit Analysts roles compared to the national norm.
The Location Quotient of 1.36 for Credit Analysts in Philadelphia-Camden-Wilmington strongly indicates a market where this profession is more concentrated than the national average. This suggests a competitive environment with a notable presence of employers seeking these skills, offering a good balance between job availability and the need for specialized expertise.
Nearby Job Markets
Nearby Cities for Credit Analysts
| City | Salary | Dist. |
|---|---|---|
| Trenton-Princeton, NJ Credit Analysts Salary | $101,830↓ 5% | 28 mi |
| Allentown-Bethlehem-Easton, PA-NJ Credit Analysts Salary | $85,160↓ 20% | 47 mi |
| Reading, PA Credit Analysts Salary | $91,900↓ 14% | 48 mi |
Comparing salaries near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Hiring Credit Analystss?
Frequently Asked Questions
How much does a Credit Analysts make in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
The median annual salary for a Credit Analysts in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is $106,810. This typically ranges from $60,130 for entry-level positions to $190,760 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 8.9% higher than the national median of $98,110.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a lucrative place for Credit Analysts?
Yes, it is a lucrative place for Credit Analysts.The average salary of $106,810 significantly exceeds the national average, and the cost of living is at the national average, indicating strong earning potential.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a good place to live for Credit Analysts?
The Cost of Living Index in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
Some top paying nearby cities include Trenton-Princeton, NJ ($101,830) and Allentown-Bethlehem-Easton, PA-NJ.
How does the local Credit Analyst salary compare to the national average?
Credit Analysts in Philadelphia-Camden-Wilmington earn an average of $106,810 annually, which is approximately $8,690 higher than the national average of $98,110.
What is the concentration of Credit Analysts in the Philadelphia-Camden-Wilmington area?
The area has a concentration of Credit Analysts indicated by a Location Quotient of 1.36, meaning the proportion of these jobs is 36% higher than the national average.
How does the cost of living affect the purchasing power of a Credit Analyst's salary in this region?
With a Cost of Living Index of 100, the purchasing power of a Credit Analyst's salary in Philadelphia-Camden-Wilmington is equivalent to the national average, meaning their earnings go as far as they would nationally.
What does the number of jobs per 1,000 workers suggest for Credit Analysts?
The figure of 0.595 jobs per 1,000 workers indicates the relative prevalence of Credit Analyst roles within the local workforce, providing context for job availability.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,710 employees in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area with a job density of 0.595 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Credit Analysts • Data source: BLS OEWS 2024 •Jobs in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD