Credit / Collections Manager Salary

Collections Managers in the United States with more than 10 years of experience in their profession represent somewhere between two-thirds and three-fourths of Collections Managers. Salaries average out to around $55K annually and spread from $35K to $85K per year. Individual bonuses, profit sharing and commission for Collections Managers — as high as $15K, $8K and $15K, respectively — each contribute to the degree of variation within overall compensation, ranging from $35K to $85K. Geographic location is the biggest factor affecting pay for this group, followed by career duration. Most Collections Managers report high levels of job satisfaction. Medical benefits are awarded to most, and more than half earn dental coverage. The majority of Collections Managers (66 percent) who took the survey are female.

$37,224 - $82,540
(Median)
$37K
$55K
$83K
MEDIAN: $55,357
10%
50%
90%

Add this chart to your site: 640px    300px

$12.68 - $25.10
(Median)
$13
$18
$25
MEDIAN: $17.00
10%
50%
90%

Add this chart to your site: 640px    300px

National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$29K$58K$87K
Salary
$37,224 - $82,540  
   
Bonus
$0.00 - $14,859  
Profit Sharing
$304.10 - $7,964  
Commission
$0.00 - $15,406  
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).
)
$34,914 - $84,675  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 1,053
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$15$30$45
Hourly Rate
$12.68 - $25.10  
   
Overtime
$17.38 - $36.13  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$30K$60K$90K
Bonus
$0.00 - $14,859  
   
Commission
$0.00 - $15,406  
Profit Sharing
$304.10 - $7,964  
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).
)
$34,914 - $84,675  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 222
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

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.

Read More...

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


Add this chart to your site:   640px 640px    300px 300px


For Collections Managers, progressing to a Collections Director role may result in a significant raise. On average, a Collections Director can earn $105K annually. Collections Managers typically move into roles as Credit Managers or National Credit Managers, and those positions pay $1K more and $17K more, respectively.

Credit / Collections Manager Job Listings

Search for more jobs:

Popular Skills for Credit / Collections Manager


Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Financial Analysis, Negotiation, Credit Control, and Customer Relationship Management are correlated to pay that is above average, with boosts between 6 percent and 18 percent. Skills that seem to negatively impact pay include Customer Service and Account Management. Those familiar with Accounts Receivable also tend to 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 with a lot of experience do not necessarily enjoy more money. Those who have worked for fewer than five years take home a median salary of $46K, and workers with five to 10 years of experience earn a higher $51K on average. Collections Managers claiming one to two decades of experience make an estimated median of $57K. Collections Managers 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 $59K on average.

Pay Difference by Location


Cleveland offers some of the highest pay in the country for Collections Managers, 36 percent above the national average. Collections Managers can also look forward to large paychecks in cities like Philadelphia (+29 percent), Indianapolis (+28 percent), Chicago (+22 percent), and New York (+19 percent). Collections Managers in Seattle earn salaries far below the national average by 32 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Workers in Atlanta and Omaha earn salaries that trail the national average for those in this profession (10 percent less and 8 percent less, respectively).

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

Experience Affects Credit / Collections Manager Salaries



National Average
$54,000



Skills That Affect Credit / Collections Manager Salaries




Customer Relationship Management (CRM)
up arrow 3%

Collection Development
up arrow 3%

Microsoft Excel
up arrow 2%

Collections
0%

Accounts Receivable
0%

National Average
$54,000

Account Management
up arrow 5%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 272 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
0%
1-4 years
13%
5-9 years
17%
10-19 years
37%
20 years or more
33%

Common Health Benefits

medical benefits Medical: 82% dental benefits Dental: 69%
vision benefits Vision: 54% employee benefits None: 14%
ADVERTISEMENT