Banking Collectors in the United States take home an average $14.77 per hour. Women Banking Collectors who took the survey just slightly outnumber men. Most people on this career path report moderate levels of job satisfaction. Not all workers are lucky enough to have benefits; in fact, just under one in four are without coverage. Medical insurance is claimed by a strong majority and dental insurance is reported by more than half. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$29,695 - $50,335
$30K
$37K
$50K
MEDIAN: $37,381
10%
50%
90%

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$12.11 - $18.56
$12
$15
$19
MEDIAN: $14.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$17K$34K$51K
Salary
$29,695 - $50,335  
   
Bonus
$700 - $10,250  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,289 - $44,814  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 18
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$10$20$30
Hourly Rate
$12.11 - $18.56  
   
Overtime
$26.23  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$20K$40K$60K
Bonus
$700 - $10,250  
   
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,289 - $44,814  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 35

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Banking Collector

  • Monitors the sale of collateral property to recover value of the loan.
  • Negotiates repayment plans, recommends accounts for legal action.
  • Maintains files and documentation, handles issues that may arise in the effort to recover money from loans.
  • Contacts customer in order to collect money on charged-off loans or existing delinquent loans.

Common Career Paths for Banking Collector


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Many Banking Collectors move into a Collections Manager role, and folks who currently hold that position report a much higher median income of $49K per year.

Loan Collector Job Listings

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Pay by Experience Level for Banking Collector

Median of all compensation (including tips, bonus, and overtime) by years of experience.


For Banking Collectors, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Those in the early stages of their career can expect to make around $31K; however, individuals with five to 10 years of experience bring in $38K on average — a distinctly larger sum. Banking Collectors who work for 10 to 20 years in their occupation tend to earn about $39K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $40K.

Related Job Salaries

Key Stats for Banking Collector

Gender

Female
57 %
Male
43 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 4 votes.
Less than 1 year
2%
1-4 years
38%
5-9 years
30%
10-19 years
19%
20 years or more
11%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Banking Collector Salaries

Late-Career
up arrow 21%

Experienced
up arrow 18%

Mid-Career
up arrow 15%

National Average
$33,000

Entry-Level
up arrow 7%

Skills That Affect Banking Collector Salaries

National Average
$33,000

Collections
up arrow 1%

bill collections
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 4 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

Less than 1 year
2%
1-4 years
38%
5-9 years
30%
10-19 years
19%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 75%
dental benefits
Dental: 69%
vision benefits
Vision: 50%
dental benefits
None: 22%
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