Loan Collector, Commercial Salary

Commercial Loan Collectors in the United States with more than 10 years of experience in their profession represent just under three-fifths of Commercial Loan Collectors. Salaries average out to around $40K per year and spread from $33K to $62K per year. Although roughly a fourth lack health benefits of any kind, more than half do enjoy medical insurance, and the greater part get dental coverage, too. Most people in this position report feeling highly satisfied with their jobs. Women make up a slight majority of Commercial Loan Collectors (56 percent) survey respondents. Participants in PayScale's salary questionnaire provided the particulars of this report.

$33,106 - $64,782
$33K
$40K
$65K
MEDIAN: $39,600
10%
50%
90%

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$15.64 - $18.89
$18
MEDIAN: $17.88
50%

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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$22K$44K$66K
Salary
$33,106 - $64,782  
   
Bonus
$4,422  
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).
)
$33,280 - $62,388  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 10
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$11$22$33
Hourly Rate
$17.88  
   
Overtime
$21.00  
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$22K$44K$66K
Bonus
$4,422  
   
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).
)
$33,280 - $62,388  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 9

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Job Description for Loan Collector, Commercial

  • Monitors the sale of collateral property to recover value of the loan.
  • Negotiates repayment plans, recommends accounts for legal action.
  • Maintains files and documentation, handles issues that may arise in the effort to recover money from loans.
  • Contacts customer in order to collect money on charged-off loans or existing delinquent loans.

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Pay by Experience Level for Loan Collector, Commercial

Pay by Experience for a Loan Collector, Commercial has a positive trend. An entry-level Loan Collector, Commercial with less than 5 years of experience can expect to earn an average total compensation of $32,000 based on 20 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Collector, Commercial with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $39,000 based on 19 salaries. An experienced Loan Collector, Commercial which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $41,000 based on 10 salaries. A Loan Collector, Commercial with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $42,000 based on 11 salaries.

Key Stats for Loan Collector, Commercial

Gender

Female
56 %
Male
44 %
1-4 years
26%
5-9 years
16%
10-19 years
37%
20 years or more
21%
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Location:
Years in Fields/Career:
United States (change)

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Experience Affects Loan Collector, Commercial Salaries

Late-Career
▲10%

Experienced
▲7%

Mid-Career
▲1%

National Average
$38,000

Entry-Level
▼15%

Gender

Female
56 %
Male
44 %

Years of Experience

1-4 years
26%
5-9 years
16%
10-19 years
37%
20 years or more
21%

Common Health Benefits

medical benefits
Medical: 67%
dental benefits
Dental: 60%
vision benefits
Vision: 47%
no benefits
None: 27%
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