Browse Categories

Credit / Collections Manager Salary

Collections Managers who are practiced in their profession and carry more than 10 years of experience make up nearly two-thirds of Collections Managers. Pay fluctuates from $34K to $83K per year, but expected earnings average $54K annually. Cash earnings for Collections Managers — which occasionally include more than $14K from bonuses and more than $8K from profit sharing — stretch from around $34K to approximately $83K. Location is the biggest factor affecting pay for this group, followed by career duration. Most enjoy medical while the larger part get dental coverage. Vision coverage is also available to nearly one-half. Job satisfaction is reported as high by the vast majority of workers. The majority of Collections Managers (64 percent) who took the survey are female. This report is based on responses to the PayScale salary survey.
$36,124 - $81,224
(Median)
$36K
$54K
$81K
MEDIAN: $53,625
10%
50%
90%

Add this chart to your site: 640px    300px

$12.15 - $24.51
(Median)
$12
$17
$25
MEDIAN: $17.00
10%
50%
90%

Add this chart to your site: 640px    300px

National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Salary
$36,124 - $81,224  
   
Bonus
$0.00 - $13,837  
Profit Sharing
$400.00 - $7,757  
Commission
$0.00 - $24,511  
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).
)
$34,272 - $82,832  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 1,190
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$14$28$42
Hourly Rate
$12.15 - $24.51  
   
Overtime
$17.06 - $36.90  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Bonus
$0.00 - $13,837  
   
Commission
$0.00 - $24,511  
Profit Sharing
$400.00 - $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).
)
$34,272 - $82,832  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 245
United States (change)

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.

Read More...

Credit / Collections Manager Tasks

  • Oversee all general credit and collections processes.
  • Manages small claims court documentation and makes decisions on accouts to be written off.
  • Hire, manage, and motivate members of the collection team.

Common Career Paths for Credit / Collections Manager


Add this chart to your site:   640px 640px    300px 300px


Compensation may increase greatly for Collections Managers who advance to upper-end positions like Collections Director. Median pay for Collections Directors is $104K per year. When Collections Managers are ready for the next step in their careers, they often become Credit Managers or National Credit Managers. Those roles pay an additional $3K and $18K, respectively.

Credit / Collections Manager Job Listings

Search for more jobs:

Popular Skills for Credit / Collections Manager


Collections Managers generally report applying a varied skill set to their work. Most notably, skills in Financial Analysis, Negotiation, Credit Control, and Customer Relationship Management are correlated to pay that is above average, with boosts between 6 percent and 20 percent. At the other end of the pay range are skills like Customer Service. Most people experienced in Accounts Receivable also know Credit Control and Customer Relationship Management (CRM).

Pay by Experience Level for Credit / Collections Manager

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


For Collections Managers, more experience in the field does not usually mean bigger paychecks. Salaries for the relatively untried average out to around $43K, but survey participants with five to 10 years of experience earn a significantly higher median of $51K. Collections Managers bring in $55K after working for 10 to 20 years. Collections Managers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $59K.

Pay Difference by Location


Collections Managers earn a generous sum in eastern parts of the United States: Boston, Philadelphia, and New York each offer salaries above the national average. Collections Managers' salaries are heavily influenced by location — Collections Managers in Seattle bring in salaries that are 30 percent lower than the national average. Employers in Columbus and Portland also lean toward paying below-median salaries (9 percent lower and 8 percent lower, respectively).

Related Job Salaries

Experience Affects Credit / Collections Manager Salaries



National Average
$53,000



Skills That Affect Credit / Collections Manager Salaries




Customer Relationship Management (CRM)
up arrow 3%

Collection Development
up arrow 2%

Collections
up arrow 1%

Microsoft Excel
up arrow 1%

Accounts Receivable
0%

National Average
$53,000


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 328 votes.

Gender

Female
64 %
Male
36 %

Years of Experience

Less than 1 year
0%
1-4 years
16%
5-9 years
18%
10-19 years
36%
20 years or more
30%

Common Health Benefits

medical benefits Medical: 82% dental benefits Dental: 68%
vision benefits Vision: 51% employee benefits None: 15%