Accounts Receivable Specialist Salary
Accounts Receivable Specialists in the United States can expect wages of $16.56 per hour on average. Total cash compensation to Accounts Receivable Specialists approaches anywhere from $29K on the lower end to $50K on the higher end; in exceptional cases, this can include more than $5K from bonuses and upwards of $9K from profit sharing. This group's pay is mainly influenced by geography, followed by the specific employer and tenure. Among survey respondents, women are more common than men; 86 percent of Accounts Receivable Specialists are female. Most workers in this position report high levels of job satisfaction. A strong majority enjoy medical while the greater part get dental coverage. Vision coverage is also available to over one-half.
Job Description for Accounts Receivable Specialist
Accounts receivable specialists have many different roles which revolve around collecting information on both customer and company accounts. They also ensure that company policies pertaining to spending money are adhered to and determine which accounts should be referred to a collection agency.Read More...
A high school diploma is a minimum requirement for this position, and college credits in mathematics and business-related subjects are highly beneficial. At least two years of accounting experience in an office setting may also be required by employers. Accounts receivable specialists must have strong communication skills in order to work well with customers and other employees, and they must also be able to multi-task and manage their time well for success. Microsoft Office proficiency is also required in order to use Excel and Word, and this is typically a full-time job in an office which requires little to no travel. It is sometimes considered a middle-management position, as these specialists have employees working both above and below them in the company's hierarchy.
Accounts Receivable Specialist Tasks
- Monitor overdue accounts, receive payments and post amounts paid to customer accounts.
- Prepare 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 Specialist
It's not very common for Accounts Receivable Specialists to move on to become Accounting Managers. Average pay for an Accounting Manager is $61K annually. Accounts Receivable Specialists typically move into roles as Staff Accountants or Accounts Receivable Managers, and those positions pay $7K more and $6K more, respectively.
Accounts Receivable Specialist Job Listings
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Popular Employer Salaries for Accounts Receivable Specialist
Providence Hospital offers the highest compensation with a median salary of $36K.
Popular Skills for Accounts Receivable Specialist
Accounts Receivable Specialists seem to require a rather large skill set. Most notably, skills in Credit Control, Accounting, bill collections, and Microsoft Excel are correlated to pay that is above average. Skills that seem to negatively impact pay include Medical Coding, Medicaid & Medicare Billing, and Insurance. Those familiar with Accounts Receivable also tend to know Collections.
Pay by Experience Level for Accounts Receivable Specialist
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. Salaries for the relatively untried average out to around $35K, but survey participants with five to 10 years of experience earn a significantly higher median of $38K. Accounts Receivable Specialists with one to two decades of relevant experience report an average salary of approximately $39K. As Accounts Receivable Specialists reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $41K.
Pay Difference by Location
Accounts Receivable Specialists will find that New York offers an impressive pay rate, one which exceeds the national average by 25 percent. Accounts Receivable Specialists can also look forward to large paychecks in cities like Chicago (+16 percent), Atlanta (+11 percent), Seattle (+8 percent), and San Diego (+8 percent). The lowest-paying market is Jacksonville, which sits 9 percent below the national average. Workers in Charlotte and Miami earn less than others in this profession; their salaries fall short of the national average by 8 percent.