Credit manager | Average UK Salary & Outlook

Credit managers control the amount of finance offered by their company and manage the debts owed to it.

Related jobs: Credit controller
  • Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.  
  • Generate financial ratios, using computer programs, to evaluate customers' financial status.  
  • Consult with customers to resolve complaints and verify financial and credit transactions.  
  • Prepare reports that include the degree of risk
Read more about Credit manager

Credit managers typically work around 37 to 39 hours per week.

As a Credit manager you will typically work between 8am and 6pm.

This occupation tends to be:

  • Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
  • Enterprising — Enterprising occupations frequently involve starting up and carrying out
  • Read more about Credit manager
    * from ONETonline
    Average salary
    25,283 GBP *
    per year
    27,000 GBP
    50,000 GBP
    Starting
    5+ Experience
    * data taken from the Office of National Statistics (ons.gov.uk)
    Average salary for Credit manager

    • 26,633 GBP
    • 24,599 GBP
    Average salary for part-time Credit manager
    Average salary for full-time Credit manager

    Showing:
    • 15,652 GBP
    • 14,867 GBP
    • 25,283 GBP
    • 24,599 GBP
    • 26,633 GBP
    Salary over time for Credit manager

    Salary for this role has increased over time
    • 22,966 GBP
    • 23,920 GBP
    • 23,809 GBP
    • 24,271 GBP
    • 24,894 GBP
    • 24,977 GBP
    • 25,283 GBP
    • 26,735 GBP
    • 29,070 GBP
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    Future outlook for Credit managers

    pointer
    Fair outlook
    26 000+ jobs available
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    Balanced outlook
    3% yearly wage growth (on average)
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    Balanced outlook
    60% chance of automation in the future

    Credit manager - Your future job?


    Which qualifications do I need?

    Find out what you need to know in order to become a Credit manager and the highest average level of education for people in this role.

    In terms of people already doing this job:

    • 50% of people in this role have a Bachelor's degree
    • 27% of people in this role have a Diploma of Higher Education or equivalent
    • 7% of people in this role have GCSEs or equivalent

    You could take a college course like a Level 3 Diploma in Personal and Business Finance. You could then apply for jobs with a credit control company.

    Courses in accounts or finance are also suitable.


    Get the right qualification to begin your journey to becoming a Credit manager

    Credit Risk / Credit Analysis

    What soft skills do I need?

    Rise above the competition by brushing up on the 5 most important soft skills you need to become a Credit manager.
    Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems
    Active Learning Understanding the implications of new information for both current and future problem-solving and decision-making
    Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times
    Judgment and Decision Making Considering the relative costs and benefits of potential actions to choose the most appropriate one
    Reading Comprehension Understanding written sentences and paragraphs in work related documents

    What technical skills do I need?

    Technical skills are programmes, softwares and things you need to know in order to be a successful Credit manager. Check that you know:
    1
    Content workflow software Equifax Application Engine; Experian Transact SM
    2
    Data base user interface and query software Microsoft SQL Server
    3
    Enterprise resource planning ERP software
    4
    Financial analysis software CGI-AMS Strata; Experian Credinomics; Fair Isaac Capstone Decision Manager; Moody's KMV Risk Advisor
    5
    Office suite software Experian Strategy Management; Microsoft Office
    Improve your skills today

    Credit Risk / Credit Analysis

    Things to highlight for your Credit manager interview

    Integrity Job requires being honest and ethical. Attention to Detail Job requires being careful about detail and thorough in completing work tasks. Analytical Thinking Job requires analyzing information and using logic to address work-related issues and problems. Dependability Job requires being reliable, responsible, and dependable, and fulfilling obligations. Self Control Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.

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