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Loan Collector, Consumer Salary

Consumer Loan Collectors in the United States can expect wages of $15.28 per hour on average. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Job satisfaction is considered about average by most people in this profession. Respondents to the PayScale salary survey provided the data for this report.

$24,738 - $45,608
(Median)
$25K
$35K
$46K
MEDIAN: $35,304
10%
50%
90%

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$12.01 - $18.82
(Median)
$12
$15
$19
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
$24,738 - $45,608  
   
Bonus
$0.00 - $9,863  
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).
)
$25,847 - $45,158  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 48
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
$12.01 - $18.82  
   
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 - $9,863  
   
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).
)
$25,847 - $45,158  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 106
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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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Pay by Experience Level for Loan Collector, Consumer

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


Average salaries for inexperienced employees average out to around $33K, but folks who have five to 10 years of experience earn a higher median of $35K. Consumer Loan Collectors bring in $39K after working for 10 to 20 years. Consumer Loan Collectors who have racked up more than two decades of experience report lower incomes overall; the average sum for this crowd comes out to only $38K.

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Experience Affects Loan Collector, Consumer Salaries

Experienced
up arrow 12%

Late-Career
up arrow 10%

Mid-Career
0%

National Average
$35,000

Entry-Level
up arrow 4%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 40 votes.

Gender

Female
69 %
Male
31 %

Years of Experience

Less than 1 year
1%
1-4 years
34%
5-9 years
36%
10-19 years
21%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 83% dental benefits Dental: 75%
vision benefits Vision: 60% employee benefits None: 14%
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