Collections Managers who are practiced in their profession and carry more than 10 years of experience make up between two-thirds and three-fourths of Collections Managers. Pay fluctuates from $36K to $90K per year, but expected earnings average $59K per year. The range in cash compensation to Collections Managers (largely between $36K and $90K) includes potential earnings of $15K from bonuses, $8K from profit sharing, and commissions of $39K in exceptional cases. Residence and career length each impact pay for this group, with the former having the largest influence. Most Collections Managers survey respondents are women (72 percent). A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. Most workers in this position report high levels of job satisfaction.

$39,538 - $88,908
(Median)
$40K
$59K
$89K
MEDIAN: $59,018
10%
50%
90%

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$13.39 - $23.86
(Median)
$13
$18
$24
MEDIAN: $18.00
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
$39,538 - $88,908  
   
Bonus
$1,269 - $15,395  
Profit Sharing
$795 - $7,830  
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).
)
$36,292 - $90,186  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 627
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
$13.39 - $23.86  
   
Overtime
$20.43 - $35.39  
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
$1,269 - $15,395  
   
Commission
$1,216 - $39,453  
Profit Sharing
$795 - $7,830  
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).
)
$36,292 - $90,186  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 131
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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

  • 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


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Collections Managers who transition into a Collections Director role may receive large pay increases as the latter position pays an average $104K per year. 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


Survey results imply that Collections Managers deploy a substantial tool kit of skills at work. Most notably, skills in Financial Analysis, Risk Management / Risk Control, Customer Relationship Management, and Negotiation are correlated to pay that is above average, with boosts between 4 percent and 11 percent. Those listing Account Management as a skill should be prepared for drastically lower pay. Customer Service and Collections also typically command lower compensation. Those educated in Accounts Receivable tend to be well versed in 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.


Experience does not seem to be a strong driver of pay increase in this role. In this position, someone who has worked for fewer than five years can expect a median salary of $49K. The median for people with five to 10 years of experience is only a little bit higher at $50K. After working for 10 to 20 years, Collections Managers make a median salary of $58K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $63K.

Pay Difference by Location

National Average: $56,624

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

With a pay rate for Collections Managers that is 44 percent greater than the national average, San Jose offers a comfortable salary for those in this profession. Collections Managers will also find cushy salaries in Cleveland (+35 percent), New York (+33 percent), Dallas (+32 percent), and Philadelphia (+24 percent). Collections Managers' salaries are heavily influenced by location — Collections Managers in Columbus bring in salaries that are 22 percent lower than the national average. A couple other locations with smaller-than-average paychecks include Jacksonville (15 percent lower) and Tulsa (12 percent lower).

Credit / Collections Manager Reviews

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

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Experience Affects Credit / Collections Manager Salaries



National Average
$57,000



Skills That Affect Credit / Collections Manager Salaries



Customer Relationship Management (CRM)
up arrow 4%

Negotiation
up arrow 3%

Credit Control
up arrow 2%

Microsoft Excel
up arrow 2%

Collection Development
up arrow 1%

People Management
up arrow 1%

National Average
$57,000

Accounts Receivable
up arrow 1%

bill collections
up arrow 3%

Collections
up arrow 4%


Account Management
up arrow 24%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 107 votes.

Gender

Female
72 %
Male
28 %

Years of Experience

1-4 years
11%
5-9 years
18%
10-19 years
38%
20 years or more
32%

Common Health Benefits

medical benefits
Medical: 81%
dental benefits
Dental: 71%
medical benefits
Vision: 61%
dental benefits
None: 16%
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