Earnings for Consumer Loan Collectors in the United States come in at around $16.04 per hour on average. Job satisfaction is high and work is enjoyable for most Consumer Loan Collectors. A fair number report receiving medical and dental coverage from their employers and a strong majority collect vision insurance. Female Consumer Loan Collectors make up most of the survey respondents at 70 percent. Participants in PayScale's salary questionnaire provided the particulars of this report.

$23,489 - $53,107
(Median)
$23K
$35K
$53K
MEDIAN: $35,402
10%
50%
90%

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$12.87 - $22.84
(Median)
$13
$16
$23
MEDIAN: $16.00
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$18K$36K$54K
Salary
$23,489 - $53,107  
   
Bonus
$1,014 - $14,795  
Profit Sharing
$1,500  
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).
)
$27,616 - $48,555  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 16
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
$12.87 - $22.84  
   
Overtime
$23.37  
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
$1,014 - $14,795  
   
Profit Sharing
$1,500  
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).
)
$27,616 - $48,555  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 41
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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.


Consumer Loan Collectors with a lot of experience do not necessarily enjoy more money. 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 see a median salary of $40K after reaching one to two decades on the job. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $42K.

Related Job Salaries

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Experience Affects Loan Collector, Consumer Salaries

Late-Career
up arrow 16%

Experienced
up arrow 10%

National Average
$36,000

Mid-Career
up arrow 4%

Entry-Level
up arrow 10%

Skills That Affect Loan Collector, Consumer Salaries

Negotiation
up arrow 20%

bill collections
up arrow 2%

Collections
0%

National Average
$36,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 6 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

1-4 years
32%
5-9 years
21%
10-19 years
28%
20 years or more
19%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 78%
medical benefits
Vision: 73%
dental benefits
None: 10%
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