Accounts Receivable Analyst Salary
Accounts Receivable Analysts in the United States can expect to earn an average of $45K annually. Location is the biggest factor affecting pay for this group, followed by tenure. Among survey respondents, women are more common than men; 80 percent of Accounts Receivable Analysts are female. Work is enjoyable for Accounts Receivable Analysts, who typically claim high levels of job satisfaction. A strong majority report receiving medical coverage from their employers and the greater part collect dental insurance. The information for this snapshot was generated by responses to the PayScale salary survey.
Job Description for Accounts Receivable Analyst
Accounts receivable analysts are responsible for monitoring all aspects of the collection of outstanding debts owed to the company. They maintain records on account activity, as well as review current accounts for unpaid amounts and determine what course of action to take based on a variety of factors such as age, amount of debt, and the customer’s history. They may interact with customers directly resolving outstanding debt or billing issues, including in evaluating the likelihood of (or a timeline for) repayment. Accounts receivable analysts also communicate frequently with management to update them on cash flow issues; cash flow is a key aspect of business management, and accounts receivable analysts are responsible for the ground level of the process to maintain incoming money.Read More...
Accounts receivable analysts work in an office environment during regular business hours. A typical day includes working on a series of account issues at all stages of the collections process. They contact customers to evaluate what action needs to be taken on their account; meet with managers and other departments to give updates on current financial status; and collect, analyze, and update customer data.
Accounts receivable analysts are generally required to have a bachelor’s degree in finance, accounting, or a related field. They must have excellent communication skills and the ability to remain pleasant during difficult conversations regarding outstanding bills or debts. Previous customer service or debt collection experience is usually required.
Accounts Receivable Analyst Tasks
- Monitor overdue accounts, receive payments and post amounts paid to customer accounts.
- Preparing statements to credit department if customer fails to respond.
- Locate and notify customers of delinquent accounts by mail or telephone.
Common Career Paths for Accounts Receivable Analyst
Accounts Receivable Analysts who move on to become Financial Analysts may enjoy significant pay raises, as Financial Analysts get paid an average of $55K per year. Accounts Receivable Analysts moving up in their careers tend to step into positions as Accounts Receivable Managers or Staff Accountants. The median paychecks in those roles are $1K higher and $2K higher, respectively.
Accounts Receivable Specialist Job Listings
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Popular Skills for Accounts Receivable Analyst
Survey results suggest that Accounts Receivable Analysts put a wide range of professional skills to use. Most notably, skills in Reconciliation, Microsoft Excel, bill collections, and Billing are correlated to pay that is above average. Most people familiar with Accounts Receivable also know Data Analysis and Microsoft Office.
Pay by Experience Level for Accounts Receivable Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
More years of relevant experience do not necessarily translate to higher paychecks. The average beginner in this position makes around $40K, but folks who have been around for five to 10 years see a markedly higher median salary of $43K. On average, Accounts Receivable Analysts make $44K following one to two decades on the job. As Accounts Receivable Analysts reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $45K.
Pay Difference by Location
For Accounts Receivable Analysts, working in the bustling city of San Francisco has its advantages, including an above-average pay rate. Accounts Receivable Analysts can also look forward to large paychecks in cities like New York (+19 percent), Charlotte (+14 percent), Troy (+11 percent), and Chicago (+5 percent). One of the biggest compensable factors for Accounts Receivable Analysts is geography, with workers in Phoenix earning a whopping 21 percent below the national average. San Antonio and Los Angeles are a couple other places where companies are known to pay below the median — salaries are 15 percent lower and 13 percent lower, respectively.