Loan Collector, Consumer Salary

Pay for Consumer Loan Collectors in the United States sits in the ballpark of $15.44 per hour. Job satisfaction is reported as high by the vast majority of workers. Medical and dental coverage is claimed by a large number, and more than half earn vision coverage. Most Consumer Loan Collectors survey respondents are women (72 percent). Respondents to the PayScale salary survey provided the data for this report.

$24,613 - $46,053
(Median)
$25K
$36K
$46K
MEDIAN: $36,126
10%
50%
90%

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$12.22 - $20.53
(Median)
$12
$15
$21
MEDIAN: $15.00
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$16K$32K$48K
Salary
$24,613 - $46,053  
   
Bonus
$0.00 - $11,920  
Profit Sharing
$690  
Commission
$3,052  
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).
)
$26,166 - $46,434  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 45
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
$12.22 - $20.53  
   
Overtime
$16.05 - $28.57  
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 - $11,920  
   
Commission
$3,052  
Profit Sharing
$690  
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).
)
$26,166 - $46,434  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 96
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Job Description for Loan Collector, Consumer

  • 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.
  • Monitors the sale of collateral property to recover value of the loan.
  • Negotiates repayment plans, recommends accounts for legal action.

Loan Collector Job Listings

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Consumer Loan Collectors usually report a few specific skills. Fortunate workers who know Negotiation command much higher paychecks, scoring salaries 23 percent above average.

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. People who have worked for fewer than five years bring home $34K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $35K. Consumer Loan Collectors see a median salary of $39K after reaching one to two decades on the job. 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 $40K.

Related Job Salaries

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Experience Affects Loan Collector, Consumer Salaries

Late-Career
up arrow 12%

Experienced
up arrow 8%

National Average
$36,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 5%

Skills That Affect Loan Collector, Consumer Salaries

Negotiation
up arrow 23%

Collections
up arrow 2%

National Average
$36,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 32 votes.

Gender

Female
72 %
Male
28 %

Years of Experience

1-4 years
30%
5-9 years
31%
10-19 years
26%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 82%
dental benefits
Dental: 77%
medical benefits
Vision: 62%
dental benefits
None: 12%
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