Credit / Collections Manager Salary

Collections Managers in the United States tend to have a good amount of experience under their belt — a little under three-quarters have more than 10 years in the field. While pay runs from $36K to $85K per year, median earnings come to $57K per year. The range in cash compensation to Collections Managers (largely between $36K and $85K) includes potential earnings of $15K from bonuses, $8K from profit sharing, and commissions of $24K in exceptional cases. Residence and years of experience each impact pay for this group, with the former having the largest influence. Most workers in this position report high levels of job satisfaction. Medical benefits are awarded to a large number, and a majority earn dental coverage. More than half of Collections Managers (67 percent) survey participants are women. Respondents to the PayScale salary survey provided the data for this report.

$38,497 - $83,502
(Median)
$38K
$57K
$84K
MEDIAN: $56,804
10%
50%
90%

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$12.97 - $25.70
(Median)
$13
$18
$26
MEDIAN: $17.00
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$29K$58K$87K
Salary
$38,497 - $83,502  
   
Bonus
$0.00 - $15,216  
Profit Sharing
$387.83 - $8,292  
Commission
$0.00 - $24,328  
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).
)
$35,502 - $84,765  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,012
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$15$30$45
Hourly Rate
$12.97 - $25.70  
   
Overtime
$18.82 - $35.94  
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$30K$60K$90K
Bonus
$0.00 - $15,216  
   
Commission
$0.00 - $24,328  
Profit Sharing
$387.83 - $8,292  
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).
)
$35,502 - $84,765  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 211
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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 may progress into high-paying roles like Collections Director, where median compensation is $104K annually. A Collections Manager often moves on 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 takers working as Collections Managers report using a large range of professional skills. Most notably, skills in Financial Analysis, Risk Management / Risk Control, Negotiation, and Credit Control are correlated to pay that is above average, with boosts between 5 percent and 14 percent. Skills that seem to negatively impact pay include Account Management and Customer Service. The majority of those who know 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.


Collections Managers do not generally earn higher incomes from more experience in the field. Those who have worked for fewer than five years take home a median salary of $49K, and workers with five to 10 years of experience earn a higher $52K on average. Collections Managers bring in $58K after working for 10 to 20 years. People who have worked for more than 20 years report a median income of $60K, which is barely higher than the median for folks with 10 to 20 years of experience.

Pay Difference by Location

National Average: $55,770

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

Collections Managers in Boston, New York, and Philadelphia — eastern regions — enjoy a very comfortable lifestyle with compensation above the national average. Collections Managers in Seattle take home the lowest salaries, earning a whopping 25 percent less than the national average. Below-median salaries also turn up in Jacksonville and Atlanta (13 percent lower and 7 percent lower, respectively).

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
$56,000



Skills That Affect Credit / Collections Manager Salaries




Credit Control
up arrow 3%

Customer Relationship Management (CRM)
up arrow 1%

Collection Development
up arrow 1%

Microsoft Excel
0%

National Average
$56,000

Collections
up arrow 2%

Accounts Receivable
up arrow 2%


Account Management
up arrow 8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 240 votes.

Gender

Female
67 %
Male
33 %

Years of Experience

Less than 1 year
0%
1-4 years
11%
5-9 years
18%
10-19 years
39%
20 years or more
32%

Common Health Benefits

medical benefits
Medical: 81%
dental benefits
Dental: 69%
medical benefits
Vision: 56%
dental benefits
None: 16%
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