A Credit / Collections Officer earns an average wage of $15.51 per hour.
Credit / Collections Officer Total Pay (?
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.
)
$29,607 - $87,104
(Median)
30K
45K
60K
87K
MEDIAN: $45,487
10%
50%
75%
90%
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Credit / Collections Officer Total Pay (?
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.
)
$11.56 - $20.29
(Median)
12
14
16
18
20
MEDIAN: $15.00
10%
25%
50%
75%
90%
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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$30K$60K$90K
Salary
$29,607 - $87,104  
   
Bonus
$0.00 - $9,300  
Profit Sharing
$60.40 - $5,463  
Commission
$1,600 - $10,000  
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).
)
$26,764 - $69,071  
PayScale
Country: United States | Currency: USD | Updated: 18 Apr 2014 | Individuals Reporting: 363
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$12$24$36
Hourly Rate
$11.56 - $20.29  
   
Overtime
$16.65 - $34.10  
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$24K$48K$72K
Bonus
$0.00 - $9,300  
   
Commission
$1,600 - $10,000  
Profit Sharing
$60.40 - $5,463  
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).
)
$26,764 - $69,071  
PayScale
Country: United States | Currency: USD | Updated: 18 Apr 2014 | Individuals Reporting: 363
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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
  • Work out terms for payment or initiats other actions as necessary.
  • Ensure collections operations function smoothly and effectively.
  • Identify and communicate with customers with delinquent accounts by mail, phone, etc.
Popular Skills for Credit / Collections Officer
Pay by Experience Level for Credit / Collections Officer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Related Job Salaries

Experience Affects Credit / Collections Officer Salaries

Late-Career
up arrow 27%
Experienced
up arrow 8%
Mid-Career
up arrow 2%
National Average
$38,000
Entry-Level
up arrow 9%

Skills That Affect Credit / Collections Officer Salaries

National Average
$38,000
Credit Control
up arrow 4%
Accounts Receivable
up arrow 15%
Job Satisfaction
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Highly satisfied
Rated 4 out of 5 based on 93 votes.
Gender
Female
69%
female alumni
 
Male
31%
male alumni
Years of Experience
Less than 1 year
2%
1-4 years
33%
5-9 years
26%
10-19 years
24%
20 years or more
14%
Common Health Benefits
medical benefits Medical: 82% dental benefits Dental: 74%
vision benefits Vision: 59% employee benefits None: 15%
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