Credit / Collections Manager Salary

With between two-thirds and three-fourths of Collections Managers in the United States reporting more than 10 years of experience in the field, this area is heavily weighted toward experienced professionals. Pay ranges from $36K to $92K per year and averages out to $59K annually. The final incomes of Collections Managers generally vary between $36K and $92K; higher pay grades include potential for bonuses, profit sharing, and commissions as high as $15K, $5K, and $39K, respectively. Geographic location is the biggest factor affecting pay for this group, followed by tenure. Men are in the minority of survey respondents, with female Collections Managers making up 73 percent. A strong majority report receiving medical coverage from their employers and the larger part collect dental insurance. Job satisfaction for Collections Managers is high.

$39,956 - $91,104
$40K
$59K
$91K
MEDIAN: $58,862
10%
50%
90%

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$13.11 - $24.87
$13
$18
$25
MEDIAN: $17.79
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$31K$62K$93K
Salary
$39,956 - $91,104  
   
Bonus
$1,032 - $15,083  
Profit Sharing
$795 - $4,894  
Commission
$1,216 - $39,453  
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).
)
$35,974 - $91,561  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 581
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$16$32$48
Hourly Rate
$13.11 - $24.87  
   
Overtime
$20.12 - $35.58  
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$32K$64K$96K
Bonus
$1,032 - $15,083  
   
Commission
$1,216 - $39,453  
Profit Sharing
$795 - $4,894  
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).
)
$35,974 - $91,561  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 130

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Credit / Collections Manager

A credit/collections manager is responsible for the direction and coordination of credit and collections procedures, policies, and operations. They manage the daily accounts receivables to ensure customer compliance, as well as follow up with issues or complaints from customers.

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Credit / 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 Credit / Collections Manager


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Collections Managers who go on to become Collections Directors may see their salaries climb quite a bit. Median pay for Collections Directors is $104K annually. It is not unusual for a Collections Manager to become a Credit Manager or a National Credit Manager.

Credit / Collections Manager Job Listings

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Popular Skills for Credit / Collections Manager


Collections Managers report using a large range of skills on the job. Most notably, skills in Financial Analysis, Risk Management / Risk Control, Credit Control, and Customer Relationship Management are correlated to pay that is above average, with boosts between 3 percent and 9 percent. Those listing Account Management as a skill should be prepared for drastically lower pay. Customer Service and bill collections also typically command lower compensation. It is often found that people who know Accounts Receivable are also skilled in Credit Control and Customer Relationship Management (CRM).

Pay by Experience Level for Credit / Collections Manager

Pay by Experience for a Credit / Collections Manager has a positive trend. An entry-level Credit / Collections Manager with less than 5 years of experience can expect to earn an average total compensation of $45,000 based on 130 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Credit / 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 $51,000 based on 188 salaries. An experienced Credit / Collections Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $57,000 based on 354 salaries. A Credit / 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 $63,000 based on 234 salaries.

Pay Difference by Location

National Average: $56,200

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

For those looking to make money, Collections Managers in San Jose enjoy an exceptional pay rate, 45 percent above the national average. Collections Managers can also look forward to large paychecks in cities like Dallas (+45 percent), Cleveland (+36 percent), New York (+34 percent), and Los Angeles (+30 percent). Compared to the national average, Columbus Collections Managers have considerably lower salaries, 22 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession. A couple other locations with smaller-than-average paychecks include Jacksonville (14 percent lower) and Tulsa (11 percent lower).

Credit / Collections Manager Reviews

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

Credit / Collections Manager in Washington:
Pros: Good experience builder. I interact with a lot of different people from across the IC on a regular basis.
Cons: Hard to move up on a contract. You are constantly surrounded by government employees that may or may not appreciate your presence.

Related Job Salaries

Key Stats for Credit / Collections Manager

Gender

Female
73 %
Male
27 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 97 votes.
1-4 years
11%
5-9 years
16%
10-19 years
40%
20 years or more
33%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Credit / Collections Manager Salaries

▲13%

▲2%

National Average
$56,000

▼9%

▼19%

Skills That Affect Credit / Collections Manager Salaries







People Management
▲1%

Microsoft Excel
▼0%

Negotiation
▼0%

National Average
$56,000

▼3%



Account Management
▼24%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 97 votes.

Gender

Female
73 %
Male
27 %

Years of Experience

1-4 years
11%
5-9 years
16%
10-19 years
40%
20 years or more
33%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 69%
vision benefits
Vision: 60%
no benefits
None: 17%