The average pay for a Credit / Collections Officer is C$47,841 per year. Pay for this job rises steadily for more experienced workers, but goes down noticeably for the few employees with more than 20 years' experience.

C$32,624 - C$57,059
C$33K
C$45K
C$57K
MEDIAN: C$44,812
10%
50%
90%
C$12.51 - C$24.84
C$13
C$18
C$25
MEDIAN: C$17.86
10%
50%
90%
C$0C$57K
Salary C$32,624 - C$57,059
Bonus C$503 - C$5,481
Profit Sharing C$3,500
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).
)
C$29,471 - C$56,870
  • Country: Canada
  • Currency: CAD
  • Updated: 13 Jan 2018
  • Individuals Reporting: 140
Hourly Data C$0C$36
Hourly Rate C$12.51 - C$24.84
Overtime C$31.13
Annual Data C$0C$56K
Bonus C$503 - C$5,481
Profit Sharing C$3,500
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).
)
C$29,471 - C$56,870
  • Country: United States
  • Currency: CAD
  • Updated: 13 Jan 2018
  • Individuals Reporting: 50

Job Description for Credit / Collections Officer

A credit/collections officer is responsible for answering inbound calls and making outbound calls to clients who are past due on their accounts. Experience in the credit or banking industry is preferred but not necessary, as it is often an entry-level position. Good communication skills are essential, as the credit/collections officer will be trying to recover company losses by obtaining payments from delinquent clients. The credit/collections officer must be able to handle basic math to set up payment plans based on budget information provided by clients, and must be able to calculate the amount a client can afford to pay each month based on that budget. Good phone manners are required, and the credit/collections officer must be able to speak proper English so that callers can understand what is being said. Other language skills are a plus, as many clients might not speak English as their first language. A credit/collections officer must be able to look over an account history and identify any past problems or potential future problems when setting up payments or discussing a settlement. The employee should be able to respond to caller concerns and difficulties with a sense of empathy and understanding, but should be able to firmly request that each client make his or her due payment or make some arrangements to begin paying off the delinquent account. A credit/collections officer must have a working knowledge of the Fair Debt Collection Practices Act, and should adhere to all legal requirements of the FDCPA in contacting clients and those who represent clients. (Copyright 2018 PayScale.com)


Credit / Collections Officer Tasks

  • Identify and communicate with customers with delinquent accounts by mail, phone, etc.
  • Work out terms for payment or initiates other actions as necessary.
  • Ensure collections operations function smoothly and effectively.

Credit / Collections Officer Job Listings

Pay by Experience Level for Credit / Collections Officer

Pay by Experience for a Credit / Collections Officer has a positive trend. An entry-level Credit / Collections Officer with less than 5 years of experience can expect to earn an average total compensation of C$40,000 based on 30 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Credit / Collections Officer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of C$48,000 based on 28 salaries. An experienced Credit / Collections Officer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of C$49,000 based on 34 salaries. A Credit / Collections Officer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of C$46,000 based on 11 salaries.

Pay Difference by Location

National Average: C$43,400

Larger city markers indicate a job is popular in that location.

Related Job Salaries

Key Stats for Credit / Collections Officer

Gender

Female
73 %
Male
27 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 24 votes.
Less than 1 year
3%
1-4 years
31%
5-9 years
25%
10-19 years
30%
20 years or more
11%

Experience Affects Credit / Collections Officer Salaries

▲13%

▲10%

▲5%

National Average
C$43,000

▼7%

Skills That Affect Credit / Collections Officer Salaries


▲5%


National Average
C$43,000


▼4%



Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 24 votes.

Gender

Female
73 %
Male
27 %

Years of Experience

Less than 1 year
3%
1-4 years
31%
5-9 years
25%
10-19 years
30%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 81%
vision benefits
Vision: 60%
no benefits
None: 13%