Collections Manager Salary

Collections Managers in the United States are often veterans in their line of work, with just over a half bringing more than 10 years of experience to the table. Salaries slide in at $52K per year on average but can range from $31K to $77K per year. Geography and experience level each impact pay for this group, with the former having the largest influence. For the most part, Collections Managers enjoy their work and report high levels of job satisfaction. The majority of Collections Managers (62 percent) who took the survey are female. A fair number enjoy medical while the greater part get dental coverage. Vision coverage is also available to the larger part. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.

$35,169 - $74,540
$35K
$52K
$75K
MEDIAN: $51,790
10%
50%
90%

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$11.64 - $26.82
$12
$17
$27
MEDIAN: $16.66
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$26K$52K$78K
Salary
$35,169 - $74,540  
   
Bonus
$1,513 - $15,130  
Profit Sharing
$4,100  
Commission
$7,000  
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).
)
$31,094 - $77,484  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 414
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$17$34$51
Hourly Rate
$11.64 - $26.82  
   
Overtime
$15.40 - $48.48  
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$50K$100K$150K
Bonus
$1,513 - $15,130  
   
Commission
$7,000  
Profit Sharing
$4,100  
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).
)
$31,094 - $77,484  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 98

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United States (change)

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Job Description for Collections Manager

A collections manager's primary responsibility is to be accountable for the recovery of the organization’s assets by collecting on delinquent accounts. The collections manager also works closely with their supervisor and office staff in the collection department. Communication skills are essential, since quite often the role involves coordinating tasks between management and workers. While the primary duty of a collection manager is taking care of delinquent accounts, many secondary tasks are required to achieve this primary directive. Directing the collections staff is essential, as is recruiting, training, and disciplining credit and collection staff effectively.

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Collections Manager Tasks

  • Hire, manage, and motivate members of the collection team.
  • Manages small claims court documentation and makes decisions on accouts to be written off.
  • Oversee all general credit and collections processes.

Common Career Paths for Collections Manager


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Collections Managers who transition into an upper level Collections Manager position will not necessarily make much more than they do in their current role. The average Collections Manager makes $49K a year.

Credit / Collections Manager Job Listings

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Popular Skills for Collections Manager


Collections Managers seem to wield many skills on the job. Most notably, facility with Operations Management and Bankruptcy Proceedings are correlated to pay that is significantly above average, leading to increases of 33 percent and 4 percent, respectively. At the other end of the pay range are skills like Microsoft Excel, Customer Relationship Management, and Account Management. It is not unusual for someone who knows Accounts Receivable to be familiar with Collections as well.

Pay by Experience Level for Collections Manager

Pay by Experience for a Collections Manager has a positive trend. An entry-level Collections Manager with less than 5 years of experience can expect to earn an average total compensation of $43,000 based on 154 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Collections Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $49,000 based on 162 salaries. An experienced Collections Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $56,000 based on 207 salaries. A Collections Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $58,000 based on 99 salaries.

Pay Difference by Location

National Average: $51,516

Larger city markers indicate a job is popular in that location.

For Collections Managers, Washington provides a pay rate that is 36 percent greater than the national average. Collections Managers will also find cushy salaries in Charlotte (+24 percent), Philadelphia (+21 percent), Los Angeles (+16 percent), and New York (+14 percent). Collections Managers in Cleveland make 25 percent less than the national average, proving that location is a major factor in pay. Houston and Las Vegas are a couple other places where companies are known to pay below the median — salaries are 18 percent lower and 17 percent lower, respectively.

Related Job Salaries

Key Stats for Collections Manager

Gender

Female
62 %
Male
38 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 82 votes.
Less than 1 year
0%
1-4 years
21%
5-9 years
24%
10-19 years
33%
20 years or more
21%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Collections Manager Salaries

▲13%

▲9%

National Average
$52,000

▼4%

▼17%

Skills That Affect Collections Manager Salaries

Operations Management
▲33%

Bankruptcy Proceedings
▲4%


▲1%

bill collections
▼0%

National Average
$52,000

Accounts Receivable
▼1%

Bankruptcy
▼1%

Customer Service
▼1%

Account Management
▼7%

Customer Relationship Management (CRM)
▼9%

Microsoft Excel
▼11%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 82 votes.

Gender

Female
62 %
Male
38 %

Years of Experience

Less than 1 year
0%
1-4 years
21%
5-9 years
24%
10-19 years
33%
20 years or more
21%

Common Health Benefits

medical benefits
Medical: 79%
dental benefits
Dental: 68%
vision benefits
Vision: 64%
no benefits
None: 18%
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