Accounts Receivable Specialist Salary
For Accounts Receivable Specialists, hourly average wages total $16.64 per hour. Total cash earnings of Accounts Receivable Specialists range from $29K on the low end to $50K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $5K and $9K, respectively. While the specific employer and years of experience impact pay for this group, location is the most influential factor. There are far more female Accounts Receivable Specialists who answered the questionnaire than men, making up 86 percent. Work is enjoyable for Accounts Receivable Specialists, who typically claim high levels of job satisfaction. A strong majority enjoy medical while a majority get dental coverage. Vision coverage is also available to the larger part.
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
- Locate and notify customers of delinquent accounts by mail or telephone.
- Prepare statements to credit department if customer fails to respond.
- Monitor overdue accounts, receive payments and post amounts paid to customer accounts.
Common Career Paths for Accounts Receivable Specialist
While not commonly seen, Accounts Receivable Specialists who transition into an Accounting Manager position may see a rise in pay. The median salary for Accounting Managers is $61K per year. Typical career progression for an Accounts Receivable Specialist involves becoming a Staff Accountant or an Accounts Receivable Manager, roles that pay $7K more and $6K more on average.
Accounts Receivable Specialist Job Listings
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Popular Employer Salaries for Accounts Receivable Specialist
Providence Hospital attracts talent by shelling out the biggest paychecks in the area — the median in that office is $36K.
Popular Skills for Accounts Receivable Specialist
Survey results imply that Accounts Receivable Specialists deploy a substantial tool kit of skills at work. 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. The majority of those who know Accounts Receivable also know Collections.
Pay by Experience Level for Accounts Receivable Specialist
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Accounts Receivable Specialists, extensive experience does not lead to significantly more money. Salaries of relatively inexperienced workers fall in the neighborhood of $35K, but folks who have racked up five to 10 years see a notably higher median of $38K. The average pay reported by folks with 10 to 20 years of experience is around $39K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $41K.
Pay Difference by Location
For Accounts Receivable Specialists, working in the bustling city of San Francisco has its advantages, including an above-average pay rate. Accounts Receivable Specialists can also look forward to large paychecks in cities like New York (+25 percent), Chicago (+14 percent), Atlanta (+11 percent), and San Diego (+10 percent). The smallest paychecks in the market, 8 percent south of the national average, can be found in Charlotte. Employers in Jacksonville and Miami also lean toward paying below-median salaries (8 percent lower and 7 percent lower, respectively).
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Key Stats for Accounts Receivable Specialist
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