Collections Specialists in the United States pull down an average of $16.23 per hour. Final cash compensation to Collections Specialists varies from around $27K to approximately $51K; choice pay grades include potential for bonuses and profit sharing as high as $12K and $5K, respectively. The most important factor affecting compensation for this group is geographic location, followed by the company and experience level. Job satisfaction is high and work is enjoyable for most Collections Specialists. Medical benefits are awarded to a fair number, and the larger part earn dental coverage. Women account for the majority of Collections Specialists who took the survey — 80 percent to be exact. This overview is based on answers to PayScale's salary questionnaire.
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$29,840 - $54,641
$30K
$41K
$55K
MEDIAN: $40,635
10%
50%
90%

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$12.16 - $21.36
$12
$16
$21
MEDIAN: $16.23
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$19K$38K$57K
Salary
$29,840 - $54,641  
   
Bonus
$516 - $11,871  
Profit Sharing
$103.04 - $5,333  
Commission
$970 - $15,456  
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).
)
$26,920 - $50,794  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 556
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$12$24$36
Hourly Rate
$12.16 - $21.36  
   
Hourly Tips
$6.26  
Overtime
$18.35 - $33.64  
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$24K$48K$72K
Bonus
$516 - $11,871  
   
Commission
$970 - $15,456  
Profit Sharing
$103.04 - $5,333  
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).
)
$26,920 - $50,794  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 1,245

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Collections Specialist

Typically, a collections specialist is an individual that specializes in the collection of debt owed to their organization. They use a variety of means to contact individuals who have defaulted on debts and/or who have not paid past-due bills. Collections specialists usually work in a call center with other collections specialists, although they may telecommute from a remote location such as a home office.

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Collections Specialist Tasks

  • Make collection and billing calls to reduce the lost assets of a company and delinquent payments.
  • Monitor and maintain assigned accounts through follow up and possibly implement alternative payment options.

Common Career Paths for Collections Specialist


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Advancing into a Collections Manager role seems to be a popular career move for Collections Specialists, and folks who currently work in the latter position report a notably larger median income of $49K per year. The most common career progression for Collections Specialists leads to becoming a Collections Supervisor, where average pay is $45K annually. However, many Collections Specialists also opt to become Accounts Receivable Specialists. Typically, an Accounts Receivable Specialist brings home $35K.

Collections Specialist Job Listings

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Popular Employer Salaries for Collections Specialist


The biggest paychecks can be found at American Red Cross Blood Services — the median salary there is $44K.

Popular Skills for Collections Specialist


Collections Specialists report using a large range of skills on the job. Most notably, facility with Phlebotomy, Oral / Verbal Communication, and Accounts Receivable are correlated to pay that is significantly above average, leading to increases of 21 percent, 6 percent, and 5 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Data Entry and Collections. Most people experienced in Accounts Receivable also know Collections.

Pay by Experience Level for Collections Specialist

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


Experience does not seem to be a strong driver of pay increase in this role. Workers in their first five years can expect to earn $33K, but people who have been around for five to 10 years earn a noticeably bigger sum of $38K. Collections Specialists who work for 10 to 20 years in their occupation tend to earn about $39K. As Collections Specialists reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $43K.

Pay Difference by Location

National Average: $36,938

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

For Collections Specialists, busy New York offers a higher-than-average pay rate, 23 percent above the national average. Collections Specialists will also find cushy salaries in Chicago (+14 percent), Dallas (+12 percent), Los Angeles (+4 percent), and Phoenix (+4 percent). Collections Specialists in San Antonio earn salaries far below the national average by 23 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Employers pay around 6 percent less in Nashville and 4 percent less in St. Louis, below-median salaries for those in this field.

Collections Specialist Reviews

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

Collections Specialist in Round Rock:
"Stressful."
Pros: I enjoy doing what I do. I work with great people. I work for great people. I have fun at my job.
Cons: I don't get paid enough for all the work I do and everything I have taken on in a new role/ new position.

Related Job Salaries

Key Stats for Collections Specialist

Gender

Female
80 %
Male
20 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 283 votes.
031
Less than 1 year
3%
1-4 years
32%
5-9 years
21%
10-19 years
30%
20 years or more
15%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Collections Specialist Salaries




National Average
$37,000


Skills That Affect Collections Specialist Salaries

Phlebotomy
up arrow 21%

Oral / Verbal Communication
up arrow 6%






bill collections
0%

National Average
$37,000


up arrow 1%



Data Entry
up arrow 9%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 283 votes.

Gender

Female
80 %
Male
20 %

Years of Experience

Less than 1 year
3%
1-4 years
32%
5-9 years
21%
10-19 years
30%
20 years or more
15%

Common Health Benefits

medical benefits
Medical: 76%
dental benefits
Dental: 67%
vision benefits
Vision: 59%
dental benefits
None: 20%
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