Credit professionals can benefit in good times and bad.(SELECTED * TOPIC)

It may be true that a rising tide--in the form of an expanding economy--lifts all boats. But credit professionals are in a unique position to benefit from both rising and sinking tides.

An improving business environment naturally bodes well for hiring in the field, as it does for numerous other job positions and industries. If companies remain optimistic about economic conditions and business expansion continues, business credit and financial professionals likely will see continued strong demand for their skills. In a growth economy, it becomes increasingly important for companies to tighten credit procedures to ensure the right accounts are on the books. Toward this end, professionals are needed to evaluate the nuances of new credit relationships, monitor ongoing risk factors affecting customer accounts, review credit thresholds and customize credit lines to client needs.

Even troublesome economic signs, such as customer cash flow problems that result in delayed or delinquent payments, often lead to increased hiring of credit and collections professionals as companies seek help researching account disputes and billing discrepancies, monitoring accounts receivable aging and managing collection efforts.

Hiring Outlook

Overall, career prospects for accounting and financial professionals remain bright. In general, starting salaries for these professionals are expected to increase an average of 3.1 percent in 2006, according to Robert Half International's 2006 Salary Guide. Pay increases for credit and collections professionals slightly lag the average, however, with small companies (defined as up to $25 million in sales) posting the largest percentage increase--an average of 2.9 percent for the three positions tracked by Robert Half (credit manager/supervisor, assistant credit manager and credit/collections clerk).

Shortages of skilled candidates in the accounting and financial fields are causing many employers to proactively readjust their pay structures and benefits plans to improve their ability to recruit and retain talented professionals. As a result, those with the most in-demand skills and experience may see higher-than-average pay increases. Obtaining certifications, such as the Certified Credit Executive (CCE), Credit Business Associate (CBA) and Credit Business Fellow (CBF), also enhances earning potential.

Companies not planning to offer higher raises or bonuses than they have in the past may want to reward employees in other ways, such as offering more flexible schedules, additional time off or enhanced opportunities for professional development.