Loans and credit officer jobs are available in microfinance institutions, banks, Sacco and government institutions. This particular job comes with varying salaries, but the average salary of inexperienced loan officers is Ksh35,000.
To be a loan/credit officer in Kenya, you should have a diploma or degree in business related courses. Besides, you are required to possess a professional qualification-if you manage to pursue ACCA/CPA/CFA /CFE or Certified Credit Officer, you will stand a better chance of earning more than Ksh100, 000 per month.
This job does not pay well at entry level, but once an individual gains relevant experience of at least 3 years, the minimum salary he can earn is Ksh50, 000.But this (pay) will depend on academic qualification and the duration you have worked at the institution.
What we have established is that loan officers at microfinance institutions earn average monthly salary of Ksh25,000,which is similar to what those in Saccos earn. Banks pay slightly higher,average of Ksh 35,000 pm.Remember this salary is for junior staff.
If you are employed as a credit manager in a local bank,your monthly salary will range from Ksh 90,000-Ksh180,000,while sacco and microfinance credit managers earn between Ksh70,000-Ksh150,000
The secret of earning good money as a credit officer/manager is to pursue a professional certificate, in addition to a degree.