As of April 01, 2025, the average annual salary for a Credit Risk Manager in Elgin, IL is $125,857. According to Salary.com, salaries can range from a low of $98,144 to a high of $148,511, with most professionals earning between $111,351 and $137,715.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $137,715 | $11,476 | $2,648 | $66 |
| Average | $125,857 | $10,488 | $2,420 | $61 |
| 25th Percentile | $111,351 | $9,279 | $2,141 | $54 |
An entry-level Credit Risk Manager with under 1 year experience makes about $120,444. With less than 2 years of experience, a mid-level Credit Risk Manager makes around $121,094. After 2-4 years, the Credit Risk Manager pay rises to about $122,176. Those senior Credit Risk Manager with 5-8 years of experience earn roughly $123,692, and those Credit Risk Manager having 8 years or more experience are expected to earn about $125,857 on average.
| Levels | Salary |
|---|---|
| Entry Level Credit Risk Manager | $120,444 |
| Intermediate Level Credit Risk Manager | $121,094 |
| Senior Level Credit Risk Manager | $122,176 |
| Specialist Level Credit Risk Manager | $123,692 |
| Expert Level Credit Risk Manager | $125,857 |
| Entry Level | 3% |
| Mid Level | 2% |
| Senior Level | 1% |
| Top Level | 0% |
| Experienced | 2% |
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| Skill | Salary | Demand |
|---|---|---|
|
Business Statistics
|
$143,476 |
14%
|
|
Credit Products
|
$140,959 |
12%
|
|
Stress Testing
|
$140,959 |
12%
|
|
Continuous Monitoring
|
$139,701 |
11%
|
|
Risk Management
|
$138,442 |
10%
|
|
Capital Market
|
$138,442 |
10%
|
