Accounts Receivable Manager Salary
Slightly less than three-fifths of Accounts Receivable Managers in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $32K to $76K per year, and the average comes out to $53K per year. Total cash compensation to Accounts Receivable Managers bottoms out near $32K and approaches $76K on the high end; the biggest paychecks include approximately $10K from bonuses and almost $5K from profit sharing. Location and years of experience each impact pay for this group, with the former having the largest influence. Women make up the vast majority of Accounts Receivable Managers (86 percent) who answered the questionnaire. Work is enjoyable for Accounts Receivable Managers, who typically claim high levels of job satisfaction. Although a fair number have medical coverage and more than half have dental coverage, one in five claim no health benefits at all. Respondents to the PayScale salary survey provided the data for this report.
Job Description for Accounts Receivable Manager
Accounts receivable (AR) managers are responsible for overseeing the part of a company that deals with money owed to the business. AR managers must manage and coordinate billing and credit related activities such as sending invoices, determining customer credit worthiness and the amount of credit to be extended, attempting to collect on unpaid debts, updating billing records and handling most billing disputes. Some employers may also require that they be responsible for handling commissions and reporting sales tax as well. AR managers usually oversee a team, which may consist of accountants, collectors, analysts, clerks and/or credit professionals. This often varies based on the size of the company. For example, an AR manager at a small company may just oversee a few AR clerks, while a manager at a larger company may oversee a team of ten or more specialists. Regardless of the company’s size and amount of staff, AR managers are usually responsible for hiring, training and evaluating the AR staff.Read More...
An accounts receivable manager usually works a standard 40 hour work week and spends their time working in an office setting. Because this type of position is a supervisory position, most companies prefer at least an associate’s degree in accounting, business administration, bookkeeping or a related field. Companies usually also require at least five years of experience in an AR department and require applicants to have demonstrated some leadership experience.
Accounts Receivable Manager Tasks
- Produce and analyze Accounts Receivable reports.
- Research and resolve escalated accounting inquiries develop policies and procedures for the Accounts Receivable department.
- Manage all the day-to-day Accounts Receivable and Collection activities.
Common Career Paths for Accounts Receivable Manager
Accounts Receivable Managers may experience a large salary bump if they progress into a role such as Financial Controller. The latter position pays an average of $77K annually. Becoming an Accounting Manager is, more often than not, the most common role that Accounts Receivable Managers move into when they're ready for the next step in their career. The average salary for the position is $61K. Another frequent advance is for Accounts Receivable Managers to assume a Staff Accountant role; in this role, workers often earn $44K.
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Popular Skills for Accounts Receivable Manager
Accounts Receivable Managers report using a large range of skills on the job. Most notably, skills in Medicaid & Medicare Billing, Collection Development, Accounts Receivable, and Credit Control are correlated to pay that is above average. Skills that pay less than market rate include Quickbooks, Customer Service, and Customer Relationship Management. The majority of those who know Accounts Receivable also know Collections.
Pay by Experience Level for Accounts Receivable Manager
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. Survey participants with less than five years' experience pocket $42K on average, but those with five to 10 years of experience enjoy a much bigger median of $49K. Accounts Receivable Managers claiming one to two decades of experience make an estimated median of $53K. More than 20 years of experience mean a somewhat bigger median paycheck of $56K, but it's not much more than what less experienced people make.
Pay Difference by Location
For those looking to make money, Accounts Receivable Managers in New York enjoy an exceptional pay rate, 32 percent above the national average. Accounts Receivable Managers will also find cushy salaries in Atlanta (+30 percent), Troy (+29 percent), San Diego (+11 percent), and Chicago (+9 percent). Accounts Receivable Managers' salaries are heavily influenced by location — Accounts Receivable Managers in Birmingham bring in salaries that are 25 percent lower than the national average. Employers in Minneapolis and St. Louis also lean toward paying below-median salaries (15 percent lower and 10 percent lower, respectively).
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