Median pay for Collections Specialists in the United States is around $16.11 per hour. Cash earnings of Collections Specialists — including $12K in bonuses, $8K in profit sharing proceeds, and $23K in commissions near the top of the pay scale — stretch from approximately $27K to approximately $51K depending on individual performance. This group's pay is mainly influenced by residence, followed by years of experience and the specific company. A strong majority report receiving medical coverage from their employers and the greater part collect dental insurance. Most workers in this position report high levels of job satisfaction. The vast majority (81 percent) of Collections Specialists who took the survey are female. This snapshot results from replies to PayScale's salary survey.
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$29,534 - $54,328
(Median)
$30K
$40K
$54K
MEDIAN: $40,385
10%
50%
90%

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$12.11 - $21.19
(Median)
$12
$16
$21
MEDIAN: $16.00
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
$29,534 - $54,328  
   
Bonus
$515 - $11,926  
Profit Sharing
$103.04 - $7,757  
Commission
$206.08 - $23,270  
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).
)
$26,688 - $50,552  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 542
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
$12.11 - $21.19  
   
Hourly Tips
$6.26  
Overtime
$18.20 - $33.54  
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
$515 - $11,926  
   
Commission
$206.08 - $23,270  
Profit Sharing
$103.04 - $7,757  
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).
)
$26,688 - $50,552  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 1,212
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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

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

Common Career Paths for Collections Specialist


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Collections Specialists do not often transition into Collections Manager roles. The role averages $49K per year. Collections Managers or Collections Supervisors are common next-step roles for Collections Specialists moving up in their careers; annual pay for Collections Managers is $13K higher on average, and it's $9K higher for Collections Supervisors.

Collections Specialist Job Listings

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Popular Employer Salaries for Collections Specialist


Those at Parallon Business Solutions can expect to make the most, with the company offering a median salary of $35K.

Popular Skills for Collections Specialist


Survey results imply that Collections Specialists deploy a substantial tool kit of skills at work. Most notably, facility with Phlebotomy, Oral / Verbal Communication, and Accounts Receivable are correlated to pay that is significantly above average, leading to increases of 22 percent, 7 percent, and 5 percent, respectively. Skills that seem to negatively impact pay include Data Entry. Most people who know 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.


More years of relevant experience do not necessarily translate to higher paychecks. Survey participants with less than five years' experience pocket $33K on average, but those with five to 10 years of experience enjoy a much bigger median of $37K. The average pay reported by folks with 10 to 20 years of experience is around $39K. After two decades in the workforce, the average Collections Specialist generally earns more than ever; median pay for this group is estimated at $42K.

Pay Difference by Location

National Average: $36,614

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

For those looking to make money, Collections Specialists in New York enjoy an exceptional pay rate, 24 percent above the national average. Collections Specialists can also look forward to large paychecks in cities like Chicago (+13 percent), Dallas (+11 percent), Los Angeles (+6 percent), and Atlanta (+4 percent). Collections Specialists' salaries are heavily influenced by location — Collections Specialists in San Antonio bring in salaries that are 20 percent lower than the national average. Below-median salaries also turn up in St. Louis and Nashville (4 percent lower).

Collections Specialist Reviews

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

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Experience Affects Collections Specialist Salaries




National Average
$37,000


Skills That Affect Collections Specialist Salaries

Phlebotomy
up arrow 22%

Oral / Verbal Communication
up arrow 7%


Customer Relations
up arrow 4%

Microsoft Excel
up arrow 3%

Negotiation
up arrow 3%

Microsoft Office
up arrow 2%

bill collections
up arrow 1%

National Average
$37,000

Customer Service
up arrow 1%

Billing
up arrow 1%

Medicaid & Medicare Billing
up arrow 3%

Collections
up arrow 3%

Data Entry
up arrow 8%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 270 votes.

Gender

Female
81 %
Male
19 %

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: 77%
dental benefits
Dental: 68%
medical benefits
Vision: 60%
dental benefits
None: 19%
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