Loan Collector, Consumer Salary

Consumer Loan Collectors in the United States can expect to earn an average of $15.38 per hour. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Female Consumer Loan Collectors make up most of the survey respondents at 70 percent. Most people in this profession are content with their work, and moderate levels of job satisfaction are reported. This snapshot results from replies to PayScale's salary survey.

$24,782 - $45,435
(Median)
$25K
$35K
$45K
MEDIAN: $35,498
10%
50%
90%

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$12.00 - $19.73
(Median)
$12
$15
$20
MEDIAN: $15.00
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$16K$32K$48K
Salary
$24,782 - $45,435  
   
Bonus
$0.00 - $9,060  
Profit Sharing
$290.00 - $2,396  
Commission
$2,966 - $5,000  
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).
)
$25,868 - $45,489  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 49
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
$12.00 - $19.73  
   
Overtime
$16.23 - $28.00  
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 - $9,060  
   
Commission
$2,966 - $5,000  
Profit Sharing
$290.00 - $2,396  
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).
)
$25,868 - $45,489  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 105
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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.

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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.


For Consumer Loan Collectors, more experience in the field does not usually mean bigger paychecks. Workers with less than five years' experience earn around $34K on average, and those who have five to 10 years under their belts see a higher median salary of $34K. Consumer Loan Collectors with one to two decades of relevant experience report an average salary of approximately $40K. Veterans who have surpassed the 20-year mark may make no more than those who are navigating the mid-career stage.

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Experience Affects Loan Collector, Consumer Salaries

Experienced
up arrow 14%

Late-Career
up arrow 14%

National Average
$35,000

Mid-Career
up arrow 1%

Entry-Level
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 39 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

1-4 years
32%
5-9 years
36%
10-19 years
21%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 83% dental benefits Dental: 76%
vision benefits Vision: 60% employee benefits None: 14%
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