$41,919
Avg. Salary
$16.78
Avg. Hourly Rate

Average additional compensation:

$2,459

Bonus

$1,550

Profit Sharing

$8,898

Commission

What am I worth?
How should I pay?

The average pay for a Collections Specialist is $16.78 per hour.

The average pay for a Collections Specialist is $41,919 per year.

10%
$12.53
10%
$16.78
50%
$22.27
90%
90%
MEDIAN $16.78
10%
$30k
10%
$42k
50%
$59k
90%
90%
MEDIAN $41,919
$30,449 - $59,404
$30K
$42K
$59K
MEDIAN: $41,919
10%
50%
90%

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$12.53 - $22.27
$13
$17
$22
MEDIAN: $16.78
10%
50%
90%

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$0$59K
Salary $30,449 - $59,404
Bonus $498 - $11,610
Profit Sharing $204 - $4,701
Commission $1,027 - $14,899
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).
)
$27,546 - $53,072
  • Country: United States
  • Currency: USD
  • Updated: 15 Apr 2019
  • Individuals Reporting: 1,016
Hourly Data $0$36
Hourly Rate $12.53 - $22.27
Hourly Tips $6.26
Overtime $18.02 - $36.24
Annual Data $0$53K
Bonus $498 - $11,610
Commission $1,027 - $14,899
Profit Sharing $204 - $4,701
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).
)
$27,546 - $53,072
  • Country: United States
  • Currency: USD
  • Updated: 15 Apr 2019
  • Individuals Reporting: 2,460

Job Description for Collections Specialist

Typically, a collections specialist is an individual that specializes in the collection of debt owed to their organization. They use a variety of means to contact individuals who have defaulted on debts and/or who have not paid past-due bills. Collections specialists usually work in a call center with other collections specialists, although they may telecommute from a remote location such as a home office.

Read More...
Collections Specialist Tasks
  • Make collection and billing calls to reduce the lost assets of a company and delinquent payments.
  • Monitor and maintain assigned accounts through follow up and possibly implement alternative payment options.

Popular Employer Salaries for Collections Specialist


Parallon Business Solutions, Chase Bank, American Red Cross Blood Services, J.P. Morgan Chase & Co. (JPMCC), and Conifer Health Solutions are among the top companies that take on many Collections Specialists. American Red Cross Blood Services attracts talent by shelling out the biggest paychecks in the area — the median in that office is $44K.

Common Career Paths for Collections Specialist


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At the upper end, Collections Specialists who move into a Collections Manager role can end up with a hefty increase in pay. The average income for Collections Managers is a much higher $49K per year. Typical career progression for a Collections Specialist involves becoming a Collections Manager or a Collections Supervisor, roles that pay $12K more and $8K more on average.

Collections Specialist Job Listings

Popular Skills for Collections Specialist


Survey participants wield an impressively varied skill set on the job. Most notably, skills in Phlebotomy, Oral / Verbal Communication, Accounts Receivable, and Microsoft Excel are correlated to pay that is above average, with boosts between 4 percent and 20 percent. Skills that are correlated to lower pay, on the other hand, include Medical Coding, Data Entry, and Collections. Those educated in Accounts Receivable tend to be well versed in Collections.

Pay by Experience Level for Collections Specialist

Pay by Experience for a Collections Specialist has a positive trend. An entry-level Collections Specialist with less than 5 years of experience can expect to earn an average total compensation of $33,000 based on 766 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Collections Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $38,000 based on 539 salaries. An experienced Collections Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $39,000 based on 635 salaries. A Collections Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $43,000 based on 255 salaries.

Pay Difference by Location

National Average: $37,823

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

Surpassing the national average by 21 percent, Collections Specialists in New York receive some of the highest pay in the country. Collections Specialists will also find cushy salaries in Chicago (+12 percent), Dallas (+10 percent), Cincinnati (+8 percent), and Houston (+6 percent). Collections Specialists in San Antonio make 24 percent less than the national average, proving that location is a major factor in pay. Two other places where employers offer below-median salaries are Nashville (7 percent less) and Pittsburgh (3 percent less).

Related Job Salaries

Key Stats for Collections Specialist

Gender

Female
80 %
Male
20 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 674 votes.
Less than 1 year
4%
1-4 years
32%
5-9 years
19%
10-19 years
29%
20 years or more
16%

Experience Affects Collections Specialist Salaries

▲13%

▲3%

▼0%

National Average
$38,000

▼13%

Skills That Affect Collections Specialist Salaries

Phlebotomy
▲18%

Oral / Verbal Communication
▲4%



▲1%



National Average
$38,000

bill collections
▼2%


▼4%


▼6%

Data Entry
▼12%

Medical Coding
▼14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 674 votes.

Gender

Female
80 %
Male
20 %

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
19%
10-19 years
29%
20 years or more
16%

Common Health Benefits

medical benefits
Medical: 77%
dental benefits
Dental: 69%
vision benefits
Vision: 61%
no benefits
None: 21%