The average Collections Officer in the United States can expect to rake in roughly $45K per year. Residence and tenure 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. Job satisfaction is high and work is enjoyable for most Collections Officers. Men are in the minority of survey respondents, with female Collections Officers making up 77 percent.

$34,418 - $69,014
$34K
$45K
$69K
MEDIAN: $45,194
10%
50%
90%

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$12.35 - $24.03
$12
$17
$24
MEDIAN: $17.36
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$24K$48K$72K
Salary
$34,418 - $69,014  
   
Bonus
$49.13 - $10,241  
Commission
$450.00  
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).
)
$29,745 - $61,004  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 108
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
$12.35 - $24.03  
   
Overtime
$20.28 - $34.84  
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
$49.13 - $10,241  
   
Commission
$450.00  
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).
)
$29,745 - $61,004  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 92

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Credit / Collections Officer

A credit/collections officer is responsible for answering inbound calls and making outbound calls to clients who are past due on their accounts. Experience in the credit or banking industry is preferred but not necessary, as it is often an entry-level position. Good communication skills are essential, as the credit/collections officer will be trying to recover company losses by obtaining payments from delinquent clients. The credit/collections officer must be able to handle basic math to set up payment plans based on budget information provided by clients, and must be able to calculate the amount a client can afford to pay each month based on that budget. Good phone manners are required, and the credit/collections officer must be able to speak proper English so that callers can understand what is being said. Other language skills are a plus, as many clients might not speak English as their first language. A credit/collections officer must be able to look over an account history and identify any past problems or potential future problems when setting up payments or discussing a settlement. The employee should be able to respond to caller concerns and difficulties with a sense of empathy and understanding, but should be able to firmly request that each client make his or her due payment or make some arrangements to begin paying off the delinquent account. A credit/collections officer must have a working knowledge of the Fair Debt Collection Practices Act, and should adhere to all legal requirements of the FDCPA in contacting clients and those who represent clients.


Credit / Collections Officer Tasks

  • Identify and communicate with customers with delinquent accounts by mail, phone, etc.
  • Work out terms for payment or initiates other actions as necessary.
  • Ensure collections operations function smoothly and effectively.

Common Career Paths for Credit / Collections Officer


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It is somewhat unusual to come across Collections Officers who move on to become Collections Managers, but it does happen from time to time, and the median salary for that position sits slightly higher at $49K.

Bill / Account Collector Job Listings

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Popular Skills for Credit / Collections Officer


Survey results suggest that Collections Officers put a wide range of professional skills to use. Fortunate workers who know Financial Analysis command much higher paychecks, scoring salaries 24 percent above average. Those listing Customer Service and Collections as skills, on the other hand, should be prepared for drastically lower pay. Most people familiar with Collections also know Accounts Receivable.

Pay by Experience Level for Credit / Collections Officer

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


For Collections Officers, experience does not seem to be a major factor in determining pay. Workers with less than five years' experience earn around $41K on average, and those who have five to 10 years under their belts see a higher median salary of $43K. Collections Officers bring in $46K after working for 10 to 20 years. Collections Officers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $48K on average.

Pay Difference by Location

National Average: $42,998

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

For those looking to make money, Collections Officers in Chicago enjoy an exceptional pay rate, 31 percent above the national average. Collections Officers will also find cushy salaries in Cedar Falls (+2 percent) and New York (+2 percent).

Credit / Collections Officer Reviews

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

Credit / Collections Officer in Franklin:
"It sucks."
Pros: I do not like any aspect of this job function or in the medical/behavioral health industry.
Cons: Unrealistic expectations, unsteady management and lack of structure.

Related Job Salaries

Key Stats for Credit / Collections Officer

Gender

Female
77 %
Male
23 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 36 votes.
032
Less than 1 year
4%
1-4 years
32%
5-9 years
25%
10-19 years
24%
20 years or more
17%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Credit / Collections Officer Salaries




National Average
$43,000


Skills That Affect Credit / Collections Officer Salaries

Financial Analysis
up arrow 24%



National Average
$43,000



Customer Service
up arrow 28%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 36 votes.

Gender

Female
77 %
Male
23 %

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
25%
10-19 years
24%
20 years or more
17%

Common Health Benefits

medical benefits
Medical: 82%
dental benefits
Dental: 76%
vision benefits
Vision: 71%
dental benefits
None: 13%
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