Collections Specialist Salary

Pay for Collections Specialists in the United States sits in the ballpark of $16.26 per hour. Individual bonuses, profit sharing and commission for Collections Specialists — as high as $12K, $5K and $15K, respectively — each contribute to the degree of variation within overall compensation, ranging from $27K to $51K. While the company and tenure impact pay for this group, geography is the most influential factor. Job satisfaction is reported as high by the vast majority of workers. The vast majority of Collections Specialists (81 percent) who responded to the survey are women. A fair number enjoy medical while more than half get dental coverage. Vision coverage is also available to the larger part. The information for this snapshot was generated by responses to the PayScale salary survey.
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$29,840 - $54,966
$30K
$41K
$55K
MEDIAN: $40,692
10%
50%
90%

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$12.20 - $21.39
$12
$16
$21
MEDIAN: $16.26
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 - $54,966  
   
Bonus
$513 - $11,784  
Profit Sharing
$101.37 - $5,425  
Commission
$979 - $15,319  
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).
)
$26,915 - $50,787  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 548
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
$12.20 - $21.39  
   
Hourly Tips
$6.26  
Overtime
$18.43 - $33.55  
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
$513 - $11,784  
   
Commission
$979 - $15,319  
Profit Sharing
$101.37 - $5,425  
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).
)
$26,915 - $50,787  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 1,218

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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Collections Specialists may experience a large salary bump if they progress into a role such as Collections Manager. The latter position pays an average of $49K annually. When Collections Specialists are ready for the next step in their careers, they often become Collections Managers or Collections Supervisors. Those roles pay an additional $12K and $8K, respectively.

Collections Specialist Job Listings

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Popular Employer Salaries for Collections Specialist


Collections Specialists flock to Parallon Business Solutions, Chase Bank, American Red Cross Blood Services, J.P. Morgan Chase & Co. (JPMCC), and Conifer Health Solutions, highly regarded companies that employ a generous number of people in this profession. Those at American Red Cross Blood Services can expect to make the most, with the company offering a median salary of $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 20 percent, 6 percent, and 4 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Medical Coding, Data Entry, and Collections. For most people, competency in Accounts Receivable indicates knowledge of Collections.

Pay by Experience Level for Collections Specialist

Pay by Experience for a Collections Specialist has a positive trend. An entry-level Collections Specialist with less than 5 years of experience can expect to earn an average total compensation of $33,000 based on 766 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Collections Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $38,000 based on 539 salaries. An experienced Collections Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $39,000 based on 635 salaries. A Collections Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $43,000 based on 255 salaries.

Pay Difference by Location

National Average: $37,051

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

New York offers some of the highest pay in the country for Collections Specialists, 22 percent above the national average. Collections Specialists will also find cushy salaries in Chicago (+13 percent), Dallas (+11 percent), Cincinnati (+9 percent), and Houston (+7 percent). Place of residence plays a huge part in a Collections Specialist's salary, with San Antonio Collections Specialists earning salaries that are 24 percent less than the national average. Nashville and Pittsburgh are a couple other places where companies are known to pay below the median — salaries are 7 percent lower and 3 percent lower, respectively.

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
81 %
Male
19 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 276 votes.
Less than 1 year
3%
1-4 years
33%
5-9 years
20%
10-19 years
30%
20 years or more
14%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Collections Specialist Salaries

▲15%

▲6%

▲2%

National Average
$37,000

▼11%

Skills That Affect Collections Specialist Salaries

Phlebotomy
▲20%

Oral / Verbal Communication
▲6%




▲3%


bill collections
▼0%

National Average
$37,000


▼2%


▼4%

Data Entry
▼10%

Medical Coding
▼13%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 276 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
3%
1-4 years
33%
5-9 years
20%
10-19 years
30%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 76%
dental benefits
Dental: 67%
vision benefits
Vision: 60%
no benefits
None: 20%