Debt Collector Salary

Debt Collectors in the United States take home an average $13.53 per hour. The most important factor affecting compensation for this group is geographic location, followed by career duration and the particular employer. The majority of Debt Collectors (64 percent) who took the survey are women. Most workers in this position report moderate levels of job satisfaction. Not all workers are lucky enough to have benefits; in fact, close to one-fourth are without coverage. Medical insurance is claimed by the larger part and dental insurance is reported by more than half. Participants in PayScale's salary questionnaire provided the particulars of this report.

$25,277 - $59,483
$25K
$36K
$59K
MEDIAN: $36,335
10%
50%
90%

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$10.42 - $17.43
$10
$14
$17
MEDIAN: $13.53
10%
50%
90%

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$0$59K
Salary $25,277 - $59,483
Bonus $499.17 - $18,060
Commission $500 - $29,218
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).
)
$22,618 - $50,257
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 121
Hourly Data $0$31
Hourly Rate $10.42 - $17.43
Overtime $15.95 - $32.00
Annual Data $0$50K
Bonus $499.17 - $18,060
Commission $500 - $29,218
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).
)
$22,618 - $50,257
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 379

Find Out Exactly What You Should Be Paid

United States (change)

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

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

Common Career Paths for Debt Collector


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Though it's uncommon, some Debt Collectors move into roles as Collections Managers, where pay is an average $49K per year. Career advancement for the typical Debt Collector often leads to becoming a Collections Supervisor or a Collections Manager; median salaries in these positions are $14K higher and $18K higher, respectively.

Debt Collector Job Listings

Popular Employer Salaries for Debt Collector


Popular Skills for Debt Collector


Debt Collectors seem to require a number of specific skills. Most notably, skills in Negotiation, Collections, bill collections, and Typing are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Bilingual. Most people experienced in Customer Service also know Collections.

Pay by Experience Level for Debt Collector

Pay by Experience for a Debt Collector has a positive trend. An entry-level Debt Collector with less than 5 years of experience can expect to earn an average total compensation of $29,000 based on 297 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Debt Collector with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $34,000 based on 136 salaries. An experienced Debt Collector which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $35,000 based on 159 salaries. A Debt Collector with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $38,000 based on 43 salaries.

Pay Difference by Location

34%

12%

9%

-1%

-10%

-13%

-25%

National Average: $31,186

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

Debt Collectors will find that Houston offers an impressive pay rate, one which exceeds the national average by 34 percent. Debt Collectors can also look forward to large paychecks in cities like Cleveland (+15 percent), Dallas (+12 percent), Phoenix (+9 percent), and Denver (+7 percent). Location significantly influences compensation, with Tucson Debt Collectors earning much less — 25 percent less — than the national average. Not at the bottom but still paying below the median are employers in Buffalo and Cincinnati (13 percent lower and 12 percent lower, respectively).

Debt Collector Reviews

Q: What is it like working as a Debt Collector?

Debt Collector in Fiji:
"Great experience and Satisfied."
Pros: I like talking to customers and helping customers and find this work so interesting.I have also gained experience and have also manage to tackle different scenarios which have made a better debt collector.
Cons: Every star have their days, at times I can feel pressured when there are no collections for the day.

Debt Collector in Elk River:
"COLLECTIONS."
Pros: THE COMPANY I WORK FOR, THE PEOPLE I WORK WITH, THE CHALLENGE OF REACHING GOALS AND THE INCOME POTENTIAL, WORK FLEXIBILITY.
Cons: DRAMA, LATE NIGHTS, CHANGING PROCEDURES, LACK OF ONGOING TRAINING, LACK OF COMMUNICATION, STRESS.

Related Job Salaries

Key Stats for Debt Collector

Gender

Female
64 %
Male
36 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 82 votes.
Less than 1 year
5%
1-4 years
46%
5-9 years
16%
10-19 years
24%
20 years or more
9%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Debt Collector Salaries

▲23%

▲14%

▲10%

National Average
$31,000

▼8%

Skills That Affect Debt Collector Salaries

▲3%

▲3%

bill collections
▲2%

Typing
▲1%

National Average
$31,000


Bilingual
▼8%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 82 votes.

Gender

Female
64 %
Male
36 %

Years of Experience

Less than 1 year
5%
1-4 years
46%
5-9 years
16%
10-19 years
24%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 67%
dental benefits
Dental: 59%
vision benefits
Vision: 51%
no benefits
None: 27%
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