Credit / Collections Manager Salary

Collections Managers in the United States tend to be well-versed in their field, and more than two-thirds have more than 10 years of experience. Average salary is expected to be around $59K per year, but may range from $36K to $91K per year. Total cash earnings of Collections Managers range from $36K on the low end to $91K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $15K and $8K, respectively. Location and experience level each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Most workers in this position report high levels of job satisfaction. Female Collections Managers make up most of the survey respondents at 72 percent.

$39,731 - $90,678
$40K
$59K
$91K
MEDIAN: $58,787
10%
50%
90%

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$13.23 - $24.66
$13
$18
$25
MEDIAN: $18.08
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
$39,731 - $90,678  
   
Bonus
$1,041 - $15,299  
Profit Sharing
$797 - $7,757  
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).
)
$36,205 - $91,370  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 619
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
$13.23 - $24.66  
   
Overtime
$20.60 - $35.33  
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
$1,041 - $15,299  
   
Commission
$1,216 - $39,453  
Profit Sharing
$797 - $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).
)
$36,205 - $91,370  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 137

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. Becoming a Credit Manager or a National Credit Manager is a common transition from a Collections Manager role.

Credit / Collections Manager Job Listings

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Popular Skills for Credit / Collections Manager


Survey results imply that Collections Managers deploy a deep pool of skills on the job. Most notably, skills in Financial Analysis, Risk Management / Risk Control, Credit Control, and People Management are correlated to pay that is above average, with boosts between 3 percent and 11 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. For most people, competency in Accounts Receivable indicates knowledge of 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.


Collections Managers with a lot of experience do not necessarily enjoy more money. Collections Managers in the early stages of their careers take home approximately $47K on average. The average for people in the five-to-10 year group is only a little larger at $50K. Collections Managers with one to two decades of relevant experience report an average salary of approximately $57K. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $63K.

Pay Difference by Location

National Average: $56,083

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 will also find cushy salaries in Dallas (+43 percent), New York (+37 percent), Cleveland (+36 percent), and Philadelphia (+25 percent). One of the biggest compensable factors for Collections Managers is geography, with workers in Columbus earning a whopping 22 percent below the national average. Workers in Jacksonville and Tulsa earn salaries that trail the national average for those in this profession (14 percent less and 11 percent less, respectively).

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
72 %
Male
28 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 111 votes.
1-4 years
11%
5-9 years
17%
10-19 years
39%
20 years or more
33%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Credit / Collections Manager Salaries

▲12%

▲3%

National Average
$56,000

▼10%

▼17%

Skills That Affect Credit / Collections Manager Salaries




People Management
▲2%




▲1%

Accounts Receivable
▼0%

National Average
$56,000

▼3%



Account Management
▼24%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 111 votes.

Gender

Female
72 %
Male
28 %

Years of Experience

1-4 years
11%
5-9 years
17%
10-19 years
39%
20 years or more
33%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 70%
vision benefits
Vision: 60%
dental benefits
None: 16%
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