Debt Collector Salary

Median pay for Debt Collectors in the United States lies in the neighborhood of $13.23 per hour. Geography and experience level each impact pay for this group, with the former having the largest influence. Job satisfaction is considered about average by most people in this profession. Women make up the majority of Debt Collectors (61 percent) who completed the questionnaire. Health benefits are not enjoyed by everyone in this line of work, and about one in four lack any coverage at all. Medical benefits are reported by a fair number and dental coverage is claimed by more than half. The information for this snapshot was generated by responses to the PayScale salary survey.

$23,570 - $49,979
(Median)
$24K
$34K
$50K
MEDIAN: $33,585
10%
50%
90%

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$9.88 - $18.03
(Median)
$9
$13
$18
MEDIAN: $13.00
10%
50%
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$17K$34K$51K
Salary
$23,570 - $49,979  
   
Bonus
$0.00 - $11,948  
Commission
$986 - $19,627  
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).
)
$21,382 - $46,134  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 204
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$10$20$30
Hourly Rate
$9.88 - $18.03  
   
Overtime
$9.21 - $27.54  
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$20K$40K$60K
Bonus
$0.00 - $11,948  
   
Commission
$986 - $19,627  
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).
)
$21,382 - $46,134  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 663
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Job Description for Debt Collector

A debt collector notifies the holders of accounts that are "past due" of their obligations to pay, and they help find and facilitate the best means for that person to repay the amount owed. Most of the time, individuals in this position work for a financial company dedicated to collecting on past due accounts.

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Debt Collector Tasks

  • Record information about financial status of customers and status of collection efforts.
  • Monitor overdue accounts, receive payments and post amounts paid to customer accounts.
  • Locate and notify customers of delinquent accounts by mail or telephone.
  • Arrange for debt repayment or establish repayment schedules, based on customers' financial situations.

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Popular Skills for Debt Collector


Debt Collectors note just a narrow range of job skills. Those who have experience with Collections, Negotiation, and Customer Service can expect to be compensated well for these skills. Those proficient in Collections are, more often than not, also skilled in Negotiation.

Pay by Experience Level for Debt Collector

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


For Debt Collectors, more experience in the field does not usually mean bigger paychecks. Relatively untried employees who have less than five years' experience make $28K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $33K. Debt Collectors with one to two decades of relevant experience report an average salary of approximately $36K. Debt Collectors who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $37K.

Pay Difference by Location


Home to some of the best pay for Debt Collectors, New York offers exceptional salaries, 38 percent above the national average. Debt Collectors will also find cushy salaries in Dallas (+12 percent), Los Angeles (+9 percent), San Diego (+7 percent), and Minneapolis (+4 percent). The lowest-paying market is Buffalo, which sits 13 percent below the national average. Workers in Cleveland and Tulsa earn salaries that trail the national average for those in this profession (12 percent less and 10 percent less, respectively).

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Experience Affects Debt Collector Salaries




National Average
$31,000


Skills That Affect Debt Collector Salaries

Collections
up arrow 3%

Negotiation
up arrow 3%

National Average
$31,000

Customer Service
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 151 votes.

Gender

Female
61 %
Male
39 %

Years of Experience

Less than 1 year
7%
1-4 years
38%
5-9 years
22%
10-19 years
23%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 70% dental benefits Dental: 61%
vision benefits Vision: 46% employee benefits None: 26%
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