The average hourly pay for a Collections Specialist is $17.24.
Collections Specialist by
Tell us about your job and pay factors like skills and education Find your market worth with a report tailored to you Negotiate your pay with confidence
What Do Collections Specialists Do?
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.
Usually a collections specialist has some experience working in a lending or banking rol…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.
Job Satisfaction for Collections Specialist
Popular Employer Salaries for Collections Specialist
The top respondents for the job title Collections Specialist are from the companies Parallon Business Solutions, American Red Cross Blood Services and Wells Fargo Bank. Reported salaries are highest at Wells Fargo Bank where the average pay is $19.92. Other companies that offer high salaries for this role include Bank of America Corp. (BOFA) and American Red Cross Blood Services, earning around $19.76 and $19.57, respectively. Parallon Business Solutions pays the lowest at around $15.27. U.S. Bank and Republic Services Inc also pay on the lower end of the scale, paying $17.14 and $18.45, respectively.
Collections Specialist Job Listings
What Are Popular Skills for Collections Specialists?
Skills in Accounts Receivable and Microsoft Excel are correlated to pay that is above average. Skills that pay less than market rate include Customer Relations, Customer Service and Bill Collections.
What is the Pay by Experience Level for Collections Specialists?
An entry-level Collections Specialist with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $15.03 based on 116 salaries. An early career Collections Specialist with 1-4 years of experience earns an average total compensation of $16.08 based on 1,023 salaries. A mid-career Collections Specialist with 5-9 years of experience earns an average total compensation of $17.46 based on 542 salaries. An experienced Collections Specialist with 10-19 years of experience earns an average total compensation of $18.36 based on 847 salaries. In their late career (20 years and higher), employees earn an average total compensation of $19.
Pay Difference by Location
Employees with Collections Specialist in their job title in New York, New York earn an average of 15.8% more than the national average. These job titles also find higher than average salaries in Phoenix, Arizona (11.4% more) and Dallas, Texas (3.5% more). The lowest salaries can be found in Chicago, Illinois (3.0% less), San Antonio, Texas (2.4% less) and Atlanta, Georgia (0.8% less).
Years of Experience
This data is based on 3,046 survey responses.