Credit Manager

Typical Salary

£27,000 To £50,000

Typical Hours

37 to 39 a week

between 8am and 6pm

How To Become a Credit Manager

You can get into this job through:

a university course
a college course
an apprenticeship
working towards this role
applying directly

College / University

You could do a foundation degree or degree in business, finance or accounting.

at least 1 A level, or equivalent, for a foundation degree

2 to 3 A levels, or equivalent, for a degree

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.

4 or 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, for a level 3 course

Apprenticeship

You could complete a credit controller advanced apprenticeship, then apply for a management trainee post.

5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths, for an advanced apprenticeship

Routes into this Career

You could start as a credit controller with a company and take training on the job to move into a management role.

Training could include qualifications like the Level 3 Diploma in Credit Management offered by the Chartered Institute of Credit Management (CICM).

The CICM also has qualifications in areas like debt collection, enforcement action and senior management.

There are no set requirements to apply directly for jobs, but most credit managers have experience and qualifications as credit controllers, sales administrators or debt collection agents.

You could also move into this work from other financial areas like accountancy and banking.

Other Routes

Other Routes are not listed for this job.

Skills And Knowledge

You'll need:

to be thorough and pay attention to detail
ambition and a desire to succeed
persistence and determination
leadership skills
maths knowledge
to be flexible and open to change
business management skills
excellent verbal communication skills
to be able to use a computer and the main software packages competently

Day To Day Tasks

Your day-to-day tasks may include:

checking customer credit ratings with banks and credit reference agencies
deciding whether to offer credit
setting up terms of credit and making sure the customer pays on time
managing a team of credit controllers or accounting technicians
negotiating repayment plans
stopping supplies of goods to late-paying business customers
starting legal action to recover debts if necessary
liaising with other creditors, arranging for goods to be recovered by bailiffs or dealing with liquidators if a company's assets are to be sold off

Working Environment

You could work at a client's home, in an office or at a client's business.

Career Path & Progression

With experience, you could progress into senior management or move to a larger company.

Alternatively, you could move into insolvency work with an accountancy firm or become a self-employed consultant, advising businesses on credit systems.

Volunteering Opportunities

Volunteering Opportunities are not listed for this job.

Tips & Information

Further information

You can find out more about working and training in credit control from the Chartered Institute of Credit Management.

Restrictions & Requirements

Restrictions & Requirements are not listed for this job.