Banking Collector Salary
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.
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.
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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.
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Key Stats for Banking Collector
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