Debt Collector Salary

Debt Collectors in the United States take home an average $13.29 per hour. Location is the biggest factor affecting pay for this group, followed by experience level. For the most part, people in this position report moderate levels of job satisfaction. Debt Collectors survey participants are largely women, dominating at 61 percent. While slightly less than a third report receiving no health benefits, the larger part do receive medical coverage, and the greater part have dental, as well. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$23,901 - $52,099
(Median)
$24K
$34K
$52K
MEDIAN: $34,492
10%
50%
90%

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$9.94 - $17.91
(Median)
$9
$13
$18
MEDIAN: $13.00
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$18K$36K$54K
Salary
$23,901 - $52,099  
   
Bonus
$0.00 - $12,307  
Commission
$824 - $19,271  
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).
)
$21,484 - $46,691  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 216
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$10$20$30
Hourly Rate
$9.94 - $17.91  
   
Hourly Tips
$2.50  
Overtime
$9.70 - $27.66  
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$20K$40K$60K
Bonus
$0.00 - $12,307  
   
Commission
$824 - $19,271  
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).
)
$21,484 - $46,691  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 713
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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.

Common Career Paths for Debt Collector


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Debt Collectors often transition into Collections Manager positions, for which compensation tends to be much higher. On average, Collections Managers earn $49K per year. It is quite typical for Debt Collectors to transition into roles as Collections Supervisors or Collections Representatives, where reported median earnings are $14K and $1K higher per year.

Collections Clerk Job Listings

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Popular Skills for Debt Collector


Debt Collectors report a focused set of job skills. Most notably, skills in Collections, Negotiation, Customer Service, and Typing are correlated to pay that is above average. Skills that seem to negatively impact pay include Typing and Customer Service. Most people skilled in Collections are similarly competent in Negotiation.

Pay by Experience Level for Debt Collector

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


Experience does not seem to be a strong driver of pay increase in this role. Salaries for the relatively untried average out to around $28K, but survey participants with five to 10 years of experience earn a significantly higher median of $34K. Debt Collectors who work for 10 to 20 years in their occupation tend to earn about $35K. Debt Collectors who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $37K.

Pay Difference by Location

National Average: $31,322

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

For Debt Collectors, working in the bustling city of New York has its advantages, including an above-average pay rate. Debt Collectors can also look forward to large paychecks in cities like Dallas (+11 percent), Minneapolis (+6 percent), Phoenix (+5 percent), and Atlanta (+3 percent). The lowest-paying market is Buffalo, which sits 13 percent below the national average. Not at the bottom but still paying below the median are employers in Tulsa and Cleveland (10 percent lower and 7 percent lower, respectively).

Debt Collector Reviews

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.

Related Job Salaries

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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 2%

National Average
$31,000

Customer Service
up arrow 4%

Typing
up arrow 5%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 163 votes.

Gender

Female
61 %
Male
39 %

Years of Experience

Less than 1 year
7%
1-4 years
38%
5-9 years
21%
10-19 years
23%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 69%
dental benefits
Dental: 60%
medical benefits
Vision: 45%
dental benefits
None: 28%
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