Debt Collector Salary

An average Debt Collector in the United States can expect to take home roughly $13.70 per hour. Residence is the main element affecting pay for this group — years of experience and the individual firm are driving factors as well. Women account for the majority of Debt Collectors who responded to the questionnaire — 65 percent to be exact. Most Debt Collectors report high levels of job satisfaction. While some workers in this profession — one in four — do not have any health coverage, more than half do receive medical benefits and the larger part have dental insurance. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.

$25,479 - $58,449
$25K
$36K
$58K
MEDIAN: $36,233
10%
50%
90%

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$10.44 - $17.53
$10
$14
$18
MEDIAN: $13.70
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$20K$40K$60K
Salary
$25,479 - $58,449  
   
Bonus
$690 - $17,817  
Commission
$496.65 - $29,691  
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).
)
$22,827 - $48,796  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 134
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
$10.44 - $17.53  
   
Overtime
$15.91 - $28.38  
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
$690 - $17,817  
   
Commission
$496.65 - $29,691  
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).
)
$22,827 - $48,796  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 396

Find Out Exactly What You Should Be Paid

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

  • 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. Debt Collectors most often move into positions as Collections Supervisors or Collections Managers; those groups report median salaries that are $14K higher and $18K higher, respectively.

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Popular Employer Salaries for Debt Collector


Popular Skills for Debt Collector


Debt Collectors report using a diverse set of skills on the job. Most notably, skills in Negotiation, Collections, bill collections, and Typing are correlated to pay that is above average. Skills that pay less than market rate 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

▲32%

▲11%

▲8%

▼-2%

▼-11%

▼-14%

▼-26%

National Average: $31,600

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

For Debt Collectors, Houston provides a pay rate that is 32 percent greater than the national average. Debt Collectors can also look forward to large paychecks in cities like Cleveland (+13 percent), Dallas (+11 percent), Phoenix (+8 percent), and Denver (+6 percent). Place of residence plays a huge part in a Debt Collector's salary, with Tucson Debt Collectors earning salaries that are 26 percent less than the national average. Employers pay around 14 percent less in Buffalo and 13 percent less in Cincinnati, below-median salaries for those in this field.

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.

Related Job Salaries

Key Stats for Debt Collector

Gender

Female
65 %
Male
35 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 77 votes.
Less than 1 year
5%
1-4 years
45%
5-9 years
16%
10-19 years
25%
20 years or more
8%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Debt Collector Salaries

▲21%

▲12%

▲8%

National Average
$32,000

▼9%

Skills That Affect Debt Collector Salaries

▲2%

▲2%

bill collections
▼0%

Typing
▼0%

National Average
$32,000


Bilingual
▼9%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 77 votes.

Gender

Female
65 %
Male
35 %

Years of Experience

Less than 1 year
5%
1-4 years
45%
5-9 years
16%
10-19 years
25%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 69%
dental benefits
Dental: 60%
vision benefits
Vision: 51%
no benefits
None: 27%
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