Banking Collector Salary

Banking Collectors in the United States take home approximately $16.27 per hour on average. A strong majority receive medical and dental insurance and the greater part get vision plans. Among folks in this role, job satisfaction levels approximately match the national average. Women make up a slight majority of Banking Collectors (50 percent) survey respondents. Male Banking Collectors are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 50 percent of the field. This report is based on responses to the PayScale salary survey.

$30,220 - $53,262
$30K
$37K
$53K
MEDIAN: $37,004
10%
50%
90%

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$12.76 - $21.08
$13
$16
$21
MEDIAN: $16.27
10%
50%
90%

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$0$53K
Salary $30,220 - $53,262
Bonus $927 - $11,635
Commission $5,500
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).
)
$27,055 - $46,257
  • Country: United States
  • Currency: USD
  • Updated: 14 Oct 2017
  • Individuals Reporting: 11
Hourly Data $0$28
Hourly Rate $12.76 - $21.08
Overtime $20.21 - $28.01
Annual Data $0$46K
Bonus $927 - $11,635
Commission $5,500
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).
)
$27,055 - $46,257
  • Country: United States
  • Currency: USD
  • Updated: 14 Oct 2017
  • Individuals Reporting: 38

Job Description for Banking Collector

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

Common Career Paths for Banking Collector


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Banking Collectors often transition into Collections Manager positions, for which compensation tends to be much higher. On average, Collections Managers earn $49K per year.

Banking Collector Job Listings

Pay by Experience Level for Banking Collector

Pay by Experience for a Banking Collector has a positive trend. An entry-level Banking Collector with less than 5 years of experience can expect to earn an average total compensation of $32,000 based on 24 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Banking Collector with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $40,000 based on 18 salaries. An experienced Banking Collector which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $41,000 based on 11 salaries. A Banking Collector with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $41,000 based on 6 salaries.

Related Job Salaries

Key Stats for Banking Collector

Gender

Female
52 %
Male
48 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 4 votes.
1-4 years
33%
5-9 years
35%
10-19 years
22%
20 years or more
10%

Experience Affects Banking Collector Salaries

Late-Career
▲10%

Experienced
▲9%

Mid-Career
▲6%

National Average
$38,000

Entry-Level
▼16%

Skills That Affect Banking Collector Salaries

bill collections
▼0%

National Average
$38,000

Collections
▼12%

Job Satisfaction

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

Gender

Female
52 %
Male
48 %

Years of Experience

1-4 years
33%
5-9 years
35%
10-19 years
22%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 78%
dental benefits
Dental: 72%
vision benefits
Vision: 58%
no benefits
None: 22%