Debt Collector Salary

Pay for Debt Collectors in the United States sits in the ballpark of $13.29 per hour. Residence is the biggest factor affecting pay for this group, followed by years of experience. Women make up the majority of Debt Collectors (61 percent) who completed the questionnaire. The majority of individuals in this role claim moderate levels of job satisfaction. Health benefits are not claimed by all — just under one in three lack any form of coverage — but a majority have medical insurance, and the greater part have dental, too. This snapshot results from replies to PayScale's salary survey.

$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
United States (change)

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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 might see a strong upturn in salary after transitioning into upper-level roles such as Collections Manager, a seemingly popular career choice. People currently working in the latter position report a noticeably higher median income of $49K per year. When Debt Collectors are ready for the next step in their careers, they often become Collections Supervisors or Collections Representatives. Those roles pay an additional $14K and $1K, respectively.

Collections Clerk Job Listings

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Popular Skills for Debt Collector


Survey takers who work as 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. At the other end of the pay range are skills like Typing and Customer Service. Most people who know Collections also know Negotiation.

Pay by Experience Level for Debt Collector

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


For Debt Collectors, experience does not seem to be a major factor in determining pay. Survey participants with less than five years' experience pocket $28K on average, but those with five to 10 years of experience enjoy a much bigger median of $34K. On average, Debt Collectors make $35K following one to two decades on the job. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $37K.

Pay Difference by Location

National Average: $31,322

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

For Debt Collectors, busy New York offers a higher-than-average pay rate, 34 percent above the national average. 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). With compensation 13 percent below the national average, Buffalo is not known for hefty paychecks and actually represents the lowest-paying market. Workers in Tulsa and Cleveland earn salaries that trail the national average for those in this profession (10 percent less and 7 percent less, respectively).

Related Job Salaries

United States (change)

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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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