Credit manager, bank salary

Introduction to the profession of Credit Manager in a bank

Working as a credit manager in a bank means having a great responsibility in assessing the creditworthiness of individuals and businesses. As a credit manager, you are a key part of the bank's risk management and work to ensure that loans and credits are granted to customers who have the ability to repay them. To succeed in this role, you should have a good understanding of economics and financial markets, as well as the ability to analyze and interpret financial information.

Salary for a Credit Manager in a bank

The salary for a credit manager in a bank varies depending on several factors such as experience, education, and type of employment. The average monthly salary is 44 200 kronor. However, there is a clear salary difference between genders, where men earn an average of 49 600 kronor while women earn 40 600 kronor, meaning that women earn 82 percent of what men do in this profession.

Salary range in the profession

The highest salary for a credit manager in a bank is 56600 kronor, a salary belonging to a man working as a private employee with a post-secondary education of three years or more. On the other end of the spectrum, we find the lowest salary at 37300 kronor, which belongs to a woman with pre-secondary education working in various sectors. For men, the lowest salary is 41500 kronor.

Hourly wage

For those who are hourly employees in this profession, the average hourly wage is 266 kronor, based on 166 working hours per month. It is also worth noting that the average salary for credit managers in a bank has increased from 42 500 to 44 200 kronor since last year.

Education and qualifications

To become a credit manager in a bank, a post-secondary education in economics, finance, or a related field is usually required. It is also common for employers to seek experience in the banking and finance sector. To succeed in this role, it is important to have good analytical skills and the ability to make decisions based on financial data.

Working conditions and benefits

The working conditions for a credit manager can vary depending on the employer and specific job duties. In some cases, there may be opportunities for flexible work, including the option to work from home. Other benefits may include paid training and access to modern work tools such as a company-paid mobile phone.

Future prospects and job market

According to forecasts from the Swedish Public Employment Service, the opportunities for work as a credit manager in a bank are considered moderate, and over a five-year period, the demand for bank employees is expected to remain stable. The recruitment situation is characterized by balance, meaning that the number of job seekers and job vacancies are in line with each other.

Challenges and competition

As a credit manager in a bank, you face several challenges, including staying up-to-date with changes in the financial market and regulations. Competition in the profession can be tough, especially for higher-paying positions, which means that relevant education and experience are crucial to succeed.

Final thoughts

Working as a credit manager in a bank is a responsible profession that requires a combination of education, experience, and analytical skills. With an average salary of 44 200 kronor, there are opportunities for career advancement and competitive salaries, especially for those with post-secondary education and relevant experience. The future prospects are stable, and with the right qualifications and commitment, this can be a rewarding career path in the banking and finance sector.