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Debt Collector Salary

For Debt Collectors, hourly average wages total $13.12 per hour. Location and career duration 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. While nearly one in four report receiving no health benefits, a fair number do receive medical coverage, and more than half have dental, as well. Female Debt Collectors survey participants are more prevalent than men — 61 percent of professionals. This report is based on responses to the PayScale salary survey.

$23,232 - $49,806
(Median)
$23K
$33K
$50K
MEDIAN: $33,274
10%
50%
90%

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$9.85 - $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, 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
$23,232 - $49,806  
   
Bonus
$0.00 - $11,948  
Commission
$2,424 - $15,456  
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).
)
$21,255 - $45,839  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 190
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
$9.85 - $17.91  
   
Overtime
$8.50 - $28.05  
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
$2,424 - $15,456  
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).
)
$21,255 - $45,839  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 628

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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' salaries may rise greatly for those who assume a higher-end position such as a Collections Manager. The average Collections Manager brings home $49K per year. When Debt Collectors are ready for the next step in their careers, they often become Collections Managers or Collections Supervisors. Those roles pay an additional $17K and $14K, respectively.

Collections Clerk Job Listings

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Popular Skills for Debt Collector


Debt Collectors only report a few specific skills. Negotiation and Collections are considered valuable skills and can increase employee pay by 3 percent and 3 percent, respectively. 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.


For many Debt Collectors, extensive experience does not lead to significantly more money. 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 claiming one to two decades of experience make an estimated median of $36K. Debt Collectors who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $38K on average.

Pay Difference by Location


Home to some of the best pay for Debt Collectors, New York offers exceptional salaries, 35 percent above the national average. Debt Collectors will also find cushy salaries in San Diego (+21 percent), Los Angeles (+16 percent), Dallas (+12 percent), and Columbus (+7 percent). The smallest paychecks in the market, 11 percent south of the national average, can be found in Buffalo. Employers in Cleveland and Tulsa also lean toward paying below-median salaries (11 percent lower and 9 percent lower, respectively).

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 3%

National Average
$31,000

Customer Service
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 153 votes.

Gender

Female
61 %
Male
39 %

Years of Experience

Less than 1 year
7%
1-4 years
40%
5-9 years
22%
10-19 years
22%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 70% dental benefits Dental: 61%
vision benefits Vision: 45% employee benefits None: 26%