Credit / Collections Manager Salary

With somewhere 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 $91K per year and averages out to $59K per year. Including potential for bonuses, profit sharing and commission — peaking near $15K, $5K, and $39K, respectively — total cash payment to Collections Managers can bottom out near $36K or top out at around $91K. Geographic location and experience level each impact pay for this group, with the former having the largest influence. Most Collections Managers survey respondents are women (72 percent). Job satisfaction for Collections Managers is high. Medical benefits are awarded to a fair number, and a majority earn dental coverage.

$39,524 - $90,312
$40K
$59K
$90K
MEDIAN: $58,899
10%
50%
90%

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$13.51 - $25.14
$14
$18
$25
MEDIAN: $17.96
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
$39,524 - $90,312  
   
Bonus
$1,008 - $15,067  
Profit Sharing
$792 - $5,051  
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).
)
$36,001 - $91,447  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 610
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
$13.51 - $25.14  
   
Overtime
$18.25 - $35.27  
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
$1,008 - $15,067  
   
Commission
$1,216 - $39,453  
Profit Sharing
$792 - $5,051  
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).
)
$36,001 - $91,447  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 133

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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' salaries may rise greatly for those who assume a higher-end position such as a Collections Director. The average Collections Director brings home $104K per year. Becoming a Credit Manager or a National Credit Manager is often the next step for a Collections Manager.

Credit / Collections Manager Job Listings

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Popular Skills for Credit / Collections Manager


Collections Managers seem to wield many skills on the job. Most notably, skills in Financial Analysis, Risk Management / Risk Control, Credit Control, and Customer Relationship Management (CRM) are correlated to pay that is above average. Those listing Account Management as a skill should be prepared for drastically lower pay. Customer Service and bill collections also typically command lower compensation. Those proficient in Accounts Receivable are, more often than not, 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: $56,648

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

For Collections Managers, working in the bustling city of San Jose has its advantages, including an above-average pay rate. Collections Managers will also find cushy salaries in Dallas (+44 percent), Cleveland (+35 percent), New York (+33 percent), and Los Angeles (+29 percent). Collections Managers in Columbus report much lower salaries than the rest of the country — 22 percent below the national average — proving that residence is a major factor in overall pay. Not at the bottom but still paying below the median are employers in Jacksonville and Tulsa (15 percent lower and 12 percent lower, 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 110 votes.
Less than 1 year
0%
1-4 years
12%
5-9 years
17%
10-19 years
39%
20 years or more
32%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Credit / Collections Manager Salaries

▲12%

▲1%

National Average
$57,000

▼10%

▼20%

Skills That Affect Credit / Collections Manager Salaries





People Management
▲1%



National Average
$57,000

Microsoft Excel
▼1%

Negotiation
▼1%

▼4%



Account Management
▼24%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 110 votes.

Gender

Female
72 %
Male
28 %

Years of Experience

Less than 1 year
0%
1-4 years
12%
5-9 years
17%
10-19 years
39%
20 years or more
32%

Common Health Benefits

medical benefits
Medical: 79%
dental benefits
Dental: 70%
vision benefits
Vision: 60%
no benefits
None: 17%
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