Loan Collector, Consumer Salary

Earnings for Consumer Loan Collectors in the United States come in at around $16.02 per hour on average. The majority of Consumer Loan Collectors (63 percent) who took the survey are women. A strong majority have medical and dental plans, and a fair number have vision insurance. Work is enjoyable for Consumer Loan Collectors, who typically claim high levels of job satisfaction. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$23,270 - $53,528
$23K
$36K
$54K
MEDIAN: $35,769
10%
50%
90%

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$12.36 - $22.59
$12
$16
$23
MEDIAN: $16.02
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
$23,270 - $53,528  
   
Bonus
$1,021 - $14,681  
Profit Sharing
$1,000  
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).
)
$27,752 - $49,112  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 15
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
$12.36 - $22.59  
   
Overtime
$23.83  
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
$1,021 - $14,681  
   
Profit Sharing
$1,000  
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).
)
$27,752 - $49,112  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 43

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Job Description for Loan Collector, Consumer

  • 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, Consumer

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


More years of relevant experience do not necessarily translate to higher paychecks. The average inexperienced worker earns $33K, and someone who has worked for five to 10 years can expect a bigger median salary of $35K. Consumer Loan Collectors with one to two decades of relevant experience report an average salary of approximately $40K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $43K.

Related Job Salaries

Key Stats for Loan Collector, Consumer

Gender

Female
63 %
Male
37 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 7 votes.
1-4 years
33%
5-9 years
21%
10-19 years
31%
20 years or more
16%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Collector, Consumer Salaries

Late-Career
▲17%

Experienced
▲10%

National Average
$36,000

Mid-Career
▼5%

Entry-Level
▼11%

Skills That Affect Loan Collector, Consumer Salaries

Negotiation
▲20%

bill collections
▲4%

National Average
$36,000

Collections
▼1%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 7 votes.

Gender

Female
63 %
Male
37 %

Years of Experience

1-4 years
33%
5-9 years
21%
10-19 years
31%
20 years or more
16%

Common Health Benefits

medical benefits
Medical: 78%
dental benefits
Dental: 80%
vision benefits
Vision: 75%
dental benefits
None: 13%
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