Collections Manager Salary

Collections Managers in the United States tend to be well-versed in their field, and just over a half have more than 10 years of experience. Average salary is expected to be around $53K annually, but may range from $31K to $77K per year. Geographic location is the biggest factor affecting pay for this group, followed by tenure. A strong majority report receiving medical coverage from their employers and a majority collect dental insurance. Women make up the majority of Collections Managers (62 percent) who completed the questionnaire. Most workers in this position report high levels of job satisfaction. This report is based on responses to the PayScale salary survey.

$35,278 - $75,244
$35K
$53K
$75K
MEDIAN: $52,938
10%
50%
90%

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$11.66 - $26.26
$12
$16
$26
MEDIAN: $16.39
10%
50%
90%

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$0$77K
Salary $35,278 - $75,244
Bonus $1,493 - $14,575
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).
)
$31,003 - $77,332
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 390
Hourly Data $0$41
Hourly Rate $11.66 - $26.26
Overtime $15.57 - $41.73
Annual Data $0$77K
Bonus $1,493 - $14,575
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).
)
$31,003 - $77,332
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 98

Find Out Exactly What You Should Be Paid

United States (change)

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' salary tends to stay somewhat level for those who assume higher-end positions like Collections Manager. Median pay for Collections Managers is $49K.

Collections Manager Job Listings

Popular Skills for Collections Manager


Survey takers working as Collections Managers report using a large range of professional skills. Most notably, facility with Operations Management and Bankruptcy Proceedings are correlated to pay that is significantly above average, leading to increases of 32 percent and 3 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Microsoft Excel, Customer Relationship Management, and Account Management. Aptitude in Accounts Receivable tends to also indicate an understanding of Collections.

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: $51,847

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

With a pay rate for Collections Managers that is 35 percent greater than the national average, Washington offers a comfortable salary for those in this profession. Collections Managers can also look forward to large paychecks in cities like Charlotte (+23 percent), Philadelphia (+20 percent), Los Angeles (+16 percent), and New York (+14 percent). Location is a huge contributor to overall pay, with Collections Managers in Cleveland earning a whopping 26 percent below the national average. Houston and Las Vegas are a couple other places where companies are known to pay below the median — salaries are 19 percent lower and 17 percent lower, respectively.

Collections Manager Reviews

Q: What is it like working as a Collections Manager?

Collections Manager in Lafayette:
Pros: The people I work with make it all worthwhile.
Cons: Collecting is not pleasant at times.

Related Job Salaries

Key Stats for Collections Manager

Gender

Female
62 %
Male
38 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 91 votes.
Less than 1 year
0%
1-4 years
20%
5-9 years
25%
10-19 years
32%
20 years or more
22%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Collections Manager Salaries

▲13%

▲8%

National Average
$52,000

▼5%

▼18%

Skills That Affect Collections Manager Salaries

Operations Management
▲32%

Bankruptcy Proceedings
▲3%


▼0%

National Average
$52,000

bill collections
▼1%

Accounts Receivable
▼2%

Bankruptcy
▼2%

Customer Service
▼2%

Account Management
▼8%

Customer Relationship Management (CRM)
▼9%

Microsoft Excel
▼12%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 91 votes.

Gender

Female
62 %
Male
38 %

Years of Experience

Less than 1 year
0%
1-4 years
20%
5-9 years
25%
10-19 years
32%
20 years or more
22%

Common Health Benefits

medical benefits
Medical: 78%
dental benefits
Dental: 69%
vision benefits
Vision: 66%
no benefits
None: 18%
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