Accounts Receivable Manager Salary
Accounts Receivable Managers who are practiced in their profession and carry more than 10 years of experience make up just below three-fifths of Accounts Receivable Managers. Pay fluctuates from $32K to $75K per year, but expected earnings average $53K annually. Total cash earnings of Accounts Receivable Managers range from $32K on the low end to $75K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $10K and $5K, respectively. Location is the biggest factor affecting pay for this group, followed by career length. While nearly one-fifth report receiving no health benefits, a strong majority do receive medical coverage, and the greater part have dental, as well. For the most part, Accounts Receivable Managers enjoy their work and report high levels of job satisfaction. The vast majority of Accounts Receivable Managers (87 percent) who responded to the survey are women. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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
- Manage all the day-to-day Accounts Receivable and Collection activities.
- Research and resolve escalated accounting inquiries develop policies and procedures for the Accounts Receivable department.
- Produce and analyze Accounts Receivable reports.
Common Career Paths for Accounts Receivable Manager
For Accounts Receivable Managers, progressing to a Financial Controller role may result in a significant raise. On average, a Financial Controller can earn $77K annually. As Accounts Receivable Managers progress in their field, many go on to become Accounting Managers. In fact, this transition is more common than anything else, and pay for the position is usually $61K per year. Another common career choice for Accounts Receivable Managers is to move into a Staff Accountant role. Typically, Staff Accountants get paid $44K.
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Popular Skills for Accounts Receivable Manager
Survey participants wield an impressively varied skill set 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 seem to negatively impact pay include Quickbooks, Customer Relationship Management, and Customer Service. It is often found that people who know Accounts Receivable are also skilled in Collections.
Pay by Experience Level for Accounts Receivable Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and pay tend to be weakly linked for Accounts Receivable Managers — those with more experience do not necessarily bring in higher earnings. Salaries of relatively inexperienced workers fall in the neighborhood of $42K, but folks who have racked up five to 10 years see a notably higher median of $49K. On average, Accounts Receivable Managers make $53K following one to two decades on the job. More than 20 years of experience mean a somewhat bigger median paycheck of $55K, 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 can also look forward to large paychecks in cities like Atlanta (+30 percent), Troy (+29 percent), Chicago (+13 percent), and Tempe (+6 percent). Compared to the national average, Birmingham Accounts Receivable Managers have considerably lower salaries, 25 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession. Employers pay around 10 percent less in St. Louis and 9 percent less in Austin, below-median salaries for those in this field.
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