Credit analysts are vital to Toyota and are responsible for analyzing credit data to determine the risk level of extending credit to individuals and firms. Credit analysts research creditworthiness of interested customers and prepare financial reports used to make decisions on car sales. The average salary of a credit analyst in Los Angeles is $63,865 according to data from the US Bureau of Labor Statistics, US Department of Labor, and Salary.com. Glassdoor reports that the base salary for a Toyota credit analyst in Los Angeles is $69,778 with a potential bonus of $1,861.
2. LendingRiskAssessors
Credit Analysts are vital to Toyota
Analyze credit data for individuals and firms
Determine risk for extending credit
Prepare financial reports used to make decisions
Sales teams need Credit Analysts to finalize car
sales
Interested customers apply for credit
Credit Analysts research their credit worthiness
What should a Credit Analyst in Los Angeles
earn?
6. What level (entry, intermediate, senior) will the
position entail?
What experience will desirable candidates
need?
Will there be any other tasks expected for the
position?
7. Glassdoor. (2015). Glassdoor. Retrieved from
http://www.glassdoor.com/Salary/Toyota-Financial-Services-Credit-Analyst-
Los-Angeles-Salaries-EJI_IE13638.0,25_KO26,40_IL.41,52_IM508.htm
Salary.com. (2015). Salary.com. Retrieved from
http://swz.salary.com/SalaryWizard/Credit-Analyst-I-Salary-Details-Los-
Angeles-CA.aspx
Toyota. (2013). Our story. Toyota: Let’s Go Places. Toyota Motor Sales, U.S.A,
Inc. Retrieved from
https://tmm.taleo.net/careersection/10020/jobsearch.ftl?lang=en
US Department of Labor. (2015). CareerOneStop. Retrieved from
http://careerinfonet.org/compare_wages.asp?next=compare_get_msa&level
=&optstatus=&id=1&nodeid=209&soccode=132041&stfips=&jobfam=13&me
nuMode=&MSA=06-23-031084&x=55&y=11
US Bureau of Labor Statistics. (n.d.). Bureau of Labor Statistics. Retrieved
from http://www.bls.gov/oes/current/oes132041.htm
Notas do Editor
Good day. My name is Aminta Seay and I work in Human Resources here at Toyota. Today I would like to talk to you about how we conduct salary surveys for our positions. Today we will be looking at one of our current openings listed in the Toyota Talent Link for a Credit Analyst in Los Angeles, California.
Credit Analysts are very important to Toyota’s profitability. If we make bad loans, we lose money. If we make good investments, we hopefully gain lifelong customers. Having skilled Credit Analysts are a must. We want to pay the right amount. A wage that is too low will not attract the kind of candidates we need; however, a wage that is too high can drain our resources. Finding the “just right” amount is top priority.
The first thing we can look at is the full range of wages that Credit Analysts earn around the country. We see that pay can start as low as $32,870 a year and go as high as $111,250. We then focus in and look at where California falls in the range. We see that Credit Analysts in California generally earn near the top end ranging from $72,410 to $111,250. Now that we have the general idea about California, let us focus in on the Los Angeles market.
We have researched the pay rates for Credit Analysts in Los Angeles using three different websites: Careerinfo.net, BLS.gov, and Salary.com. These sites vary as some give the mean wage while others give the median wage. The first two rates are from government sources and appear very accurate. Salary.com divides analysts into three levels depending on job expectations. For this example we chose the entry level analyst position. Even though we see variation, we can get a good idea about the pay range in which Credit Analysts in Los Angeles fall. We have to keep in mind that we do not just want average candidates. So, to get above average candidates we will have to pay above average wages.
We also researched what other Credit Analysts for Toyota earned working in Los Angeles at Glassdoor. This wage falls above average to the US Department of Labor rate of $67,100. So we were paying in the above average range hopefully for above average workers.
Going forward in making the determination of salary for the current opening we need to take our research in consideration. We also need to look at some other factors. Will this only be an entry level position? What experience are we looking for? Will we ask this analyst to do additional tasks not required in the past? And there could be other factors which arise in the future. Even with the final salary yet to be determined, hopefully you have a better idea about how a salary survey is done.
These are the resources that were used in putting this presentation together. Thank you very much for participating today. I would welcome any questions at this time.
