Average Credit Analysts Salary in Providence-Warwick, RI-MA
In Providence-Warwick, RI-MA, Credit Analysts earn an average annual salary of $89,600. This figure is notably below the national average of $98,110, suggesting that local market dynamics and potentially a slightly lower demand contribute to this compensation level. The specific economic landscape of the Providence-Warwick area plays a significant role in shaping these salary expectations for financial professionals.
Executive Summary
- Average Salary: $89,600 per year.
- Growth Trend: Salaries have shifted 5.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $131,130.
- Outlook: The Providence-Warwick area supports a local workforce of 250 Credit Analysts, with a jobs-per-1,000-workers rate of 0.361. The Location Quotient of 0.83 indicates that the concentration of Credit Analysts in this region is slightly below the national average. While not a major hub for the profession, the existing workforce suggests a stable, albeit not rapidly expanding, demand for these analytical roles within the local economy.
Salary Overview
The average Credit Analysts in Providence-Warwick, RI-MA earns-8.7%below the national average.
$43.1
$1,723
$7,467
Credit Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Credit Analysts across the nation, including in Providence-Warwick, have experienced a steady upward trend over the past four years. This growth is typically driven by inflation, increasing demand for financial expertise, and the evolving complexity of financial markets, leading to incremental salary increases for experienced professionals.
Credit Analysts Salary Distribution in Providence-Warwick, RI-MA
Career progression for Credit Analysts in Providence-Warwick typically involves a significant salary increase 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 well above the average. The percentile gaps between junior and senior roles highlight the substantial earning potential and career advancement opportunities available within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $57,400 | $27.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $67,200 | $32.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $80,680 | $38.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $112,000 | $53.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $131,130 | $63 |
Detailed Credit Analysts Market Analysis
Relocation Context
Nominal Salary
$89,600
Gross Pay
Real Wage (Purchasing Power)
$89,600
Adjusted for COL (100)
The average Credit Analyst salary of $89,600 in Providence-Warwick aligns precisely with the national average cost of living (index of 100). This means that the nominal salary offers purchasing power equivalent to the national average, without the added financial strain of a higher cost of living. Therefore, the take-home pay effectively matches the national standard in terms of real value.
Job Market Context
250
Total Jobs
0.361
Per 1K Jobs
0.83
Location Quotient
Providence-Warwick, RI-MA has 0.83x the national average concentration of Credit Analysts jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
With a Location Quotient of 0.83, the Providence-Warwick market shows a slightly lower concentration of Credit Analysts compared to the national average. This suggests that while the profession is present and necessary, it is not a dominant industry sector in the region. The job market is likely moderately competitive, with opportunities available but perhaps fewer than in areas with a higher concentration of financial services.
Nearby Job Markets
Nearby Cities for Credit Analysts
| City | Salary | Dist. |
|---|---|---|
| Worcester, MA Credit Analysts Salary | $76,760↓ 14% | 37 mi |
| Boston-Cambridge-Newton, MA-NH Credit Analysts Salary | $104,100↑ 16% | 38 mi |
| Norwich-New London-Willimantic, CT Credit Analysts Salary | $70,640↓ 21% | 39 mi |
Comparing salaries near Providence-Warwick, RI-MA
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Frequently Asked Questions
How much does a Credit Analysts make in Providence-Warwick, RI-MA?
The median annual salary for a Credit Analysts in Providence-Warwick, RI-MA is $89,600. This typically ranges from $57,400 for entry-level positions to $131,130 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Providence-Warwick, RI-MA is 8.7% lower than the national median of $98,110.
Is Providence-Warwick, RI-MA a lucrative place for Credit Analysts?
No, not exceptionally lucrative compared to the national average.The average salary of $89,600 is below the national average of $98,110, indicating less lucrative compensation. However, the cost of living being at the national average means the salary's purchasing power is equivalent.
Is Providence-Warwick, RI-MA a good place to live for Credit Analysts?
The Cost of Living Index in Providence-Warwick, RI-MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Providence-Warwick, RI-MA?
Some top paying nearby cities include Worcester, MA ($76,760) and Boston-Cambridge-Newton, MA-NH.
How does the Providence-Warwick Credit Analyst salary compare to the national average?
The average salary for Credit Analysts in Providence-Warwick is $89,600, which is approximately $8,510 less than the national average of $98,110.
What is the cost of living in Providence-Warwick, RI-MA?
The cost of living in Providence-Warwick is exactly at the national average, with an index of 100.
How concentrated is the Credit Analyst job market in Providence-Warwick?
The job market concentration, measured by the Location Quotient, is 0.83, indicating slightly less concentration than the national average.
What is the total number of Credit Analysts in Providence-Warwick?
There are approximately 250 Credit Analysts employed in the Providence-Warwick, RI-MA area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Providence-Warwick, RI-MA area with a job density of 0.361 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 Providence-Warwick, RI-MA