Credit Analyst Salary in Michigan
Based on 2K+ workers in Michigan
Median Annual Salary (MI)
$74,640
$35.88/hr
vs National Average
$81,630
-8.6% vs national median
Salary Range (10th–90th)
$51K – $109K
2K employed in Michigan
The median Credit Analyst salary in Michigan is $74,640 per year, with approximately 1,510 professionals currently employed in the state. This figure sits about 9% below the national average, reflecting regional differences in cost of living and market demand. Salaries in this field typically range from $51,170 to $108,870 annually, depending on individual qualifications and experience levels.
Several factors influence Credit Analyst compensation throughout Michigan, including years of experience, educational background, and the size and type of employing institution. Professionals working at larger financial institutions or in major metropolitan areas often earn higher salaries than those in smaller markets. Industry specialization, professional certifications, and demonstrated expertise in risk assessment and lending practices also play significant roles in determining individual earning potential within the state.
Salary Distribution — Credit Analyst in Michigan
| Percentile | Annual Salary |
|---|---|
| 10th percentile | $51,170 |
| 25th percentile | $61,520 |
| Median (50th percentile) | $74,640 |
| 75th percentile | $82,050 |
| 90th percentile | $108,870 |
Top-Paying Industries for Credit Analyst (U.S.)
Which industries pay Credit Analysts the most — nationwide figures (industry-level data is not available by state). Credit Analysts in Michigan tend to follow these industry patterns.
| Industry (U.S.) | Median Salary | Employed (U.S.) |
|---|---|---|
| Finance and Insurance | $87,260 | 46K |
| Real Estate and Rental and Leasing | $87,020 | 460 |
| Administrative and Support Services | $83,480 | 2K |
| Utilities | $83,320 | 90 |
| Management of Companies and Enterprises | $83,190 | 8K |
Source: U.S. BLS OEWS National Industry-Specific estimates, May 2025. National figures (not state-specific).
Historical Salary Trend — Credit Analyst in Michigan vs National
| Year | Median Salary (Michigan) |
|---|---|
| 2022 | $64,710 |
| 2023 | $67,460 |
| 2024 | $72,620 |
| 2025 | $74,640 |
| 2026 (projected) | $76,716 |
The latest year is a projection based on recent wage trends — BLS has not yet released that year’s data.
| Year | Michigan Median | National Median |
|---|---|---|
| 2022 | $64,710 | $73,733 |
| 2023 | $67,460 | $75,422 |
| 2024 | $72,620 | $78,827 |
| 2025 | $74,640 | $81,630 |
| 2026 (projected) | $76,716 | $83,901 |
Credit Analyst Salary by Experience Level in Michigan
| Experience Level | Years | Median Annual Salary |
|---|---|---|
| Junior | 0-2 yrs | $61,520 |
| Mid-level | 3-5 yrs | $74,640 |
| Senior | 6-9 yrs | $82,050 |
| Staff / Lead | 10+ yrs | $108,870 |
Credit Analyst Salary in Other States
Related Credit Analyst Salaries in Michigan
How other high-demand occupations in Michigan compare to Credit Analyst ($74,640 median).
| Occupation | Median Salary | vs Credit Analyst | Hourly |
|---|---|---|---|
| Financial Manager in MI | $139,370 | +86.7% | $67.00/hr |
| Economist in MI | $106,350 | +42.5% | $51.13/hr |
| Actuary in MI | $100,640 | +34.8% | $48.38/hr |
| Budget Analyst in MI | $96,430 | +29.2% | $46.36/hr |
| Financial Analyst in MI | $95,420 | +27.8% | $45.88/hr |
| Accountant in MI | $78,820 | +5.6% | $37.89/hr |
| Personal Financial Advisor in MI | $77,930 | +4.4% | $37.47/hr |
| Compliance Officer in MI | $77,390 | +3.7% | $37.21/hr |
| Tax Examiner in MI | $75,040 | +0.5% | $36.08/hr |
| Loan Officer in MI | $74,470 | -0.2% | $35.80/hr |
| Securities Sales Agent in MI | $73,480 | -1.6% | $35.33/hr |
| Financial Examiner in MI | $71,050 | -4.8% | $34.16/hr |
Frequently Asked Questions
How much do credit analysts make in Michigan?
- Credit analysts in Michigan earn a median salary of $74,640 per year, or $36 per hour. This is 8.6% below the national average for this position.
What is the salary range for a credit analyst job in Michigan?
- Credit analyst salaries in Michigan range from $51,170 at the lower end to $108,870 at the higher end, depending on experience and employer.
How many credit analysts are employed in Michigan?
- There are currently 1,510 credit analysts employed in Michigan, providing a solid job market for professionals in this field.
Is the credit analyst salary in Michigan competitive compared to the national average?
- Michigan's credit analyst median salary of $74,640 is slightly below the national average, representing an 8.6% difference. Job seekers may find more competitive pay in other states.