Collections Representative Salary
Average Collections Representatives in the United States make around $15.26 per hour. Geographic location is the biggest factor affecting pay for this group, followed by experience level. The majority of individuals in this role claim moderate levels of job satisfaction. The vast majority of Collections Representatives (82 percent) who responded to the survey are women. Health benefits are not claimed by all — roughly one in five lack any form of coverage — but a strong majority have medical insurance, and a fair number have dental, too. This report is based on answers to PayScale's salary questionnaire.
|Salary||$24,938 - $61,193|
|Bonus||$506 - $13,000|
|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).)
|$24,938 - $51,349|
|Hourly Rate||$11.37 - $20.61|
|Overtime||$15.40 - $33.52|
|Bonus||$506 - $13,000|
|Total Pay (||$24,938 - $51,349|
Job Description for Collections Representative
A collection representative holds an entry-level position with a debt collection company, although some larger corporations may use collectors as part of an accounts receivable department. Collection representatives contact past-due debtors and attempt to secure payment for amounts owed. Collection representatives typically spend much of their time working by telephone; theyRead More...
typically work off of a provided call list and, upon making contact with a debtor, they usually follow a provided script to notify the person of a past-due amount and available payment options. The representative should expect to run into some hostility when making these calls. In some cases, certain debt agreements allow the collection representative to attempt contact with a debtor by regular or certified mail, and (in some jurisdictions) even email.
Typically, collection representatives are expected to complete a specific number of calls per day when working with a collection agency, and these call quotas may also be tied to the representative’s pay. Collection representatives may also have their pay adjusted by commissions received on debts collected.While most states only allow collection calls between 9 a.m. and 9 p.m., due to time zone differences, a debt collection agency may have the need for collection representatives from the early morning until nearly midnight. Additionally, workers in this position should expect to work in an office environment.
Collection representative positions are usually entry level, and a high school diploma or equivalent is typically the minimum educational requirements. Basic computer skills are generally required, as the collections representative often performs data entry regarding the outcome of calls made.
Collections Representative Tasks
- Locate and notify customers of delinquent accounts by mail or telephone.
- Arrange for debt repayment or establish repayment schedules, based on customers' financial situations.
- Record information about financial status of customers and status of collection efforts.
- Monitor overdue accounts, receive payments and post amounts paid to customer accounts.
Popular Skills for Collections Representative
Just a handful of professional skills are reported by Collections Representatives who took the survey. Most notably, skills in Accounts Receivable, bill collections, Negotiation, and Customer Service are correlated to pay that is above average. For most people, competency in Collections indicates knowledge of Accounts Receivable.
Pay by Experience Level for Collections Representative
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Collections Representatives with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. 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 $35K on average — a distinctly larger sum. Collections Representatives bring in $37K after working for 10 to 20 years. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a Collections Representative with more than 20 years of experience can earn $41K on average.
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