Credit / Collections Manager Salary

A little under three-quarters of Collections Managers in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $35K to $92K per year, and the average comes out to $59K annually. Total cash incomes of Collections Managers run from $35K to $92K, depending on bonuses that can occasionally exceed $15K, profit sharing that reaches $5K, and some commissions of nearly $39K. Residence is the biggest factor affecting pay for this group, followed by career length. Medical benefits are awarded to a strong majority, and the greater part earn dental coverage. Most Collections Managers report high levels of job satisfaction. Female Collections Managers make up most of the survey respondents at 70 percent.

$39,578 - $93,126
$40K
$60K
$93K
MEDIAN: $59,525
10%
50%
90%

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$13.29 - $24.50
$13
$18
$24
MEDIAN: $17.80
10%
50%
90%

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$0$93K
Salary $39,578 - $93,126
Bonus $1,014 - $15,205
Profit Sharing $795 - $11,745
Commission $1,208 - $39,732
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).
)
$35,186 - $93,145
  • Country: United States
  • Currency: USD
  • Updated: 11 Nov 2017
  • Individuals Reporting: 560
Hourly Data $0$35
Hourly Rate $13.29 - $24.50
Overtime $18.79 - $35.71
Annual Data $0$93K
Bonus $1,014 - $15,205
Commission $1,208 - $39,732
Profit Sharing $795 - $11,745
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).
)
$35,186 - $93,145
  • Country: United States
  • Currency: USD
  • Updated: 11 Nov 2017
  • Individuals Reporting: 136

Job Description for Credit / Collections Manager

A credit/collections manager is responsible for the direction and coordination of credit and collections procedures, policies, and operations. They manage the daily accounts receivables to ensure customer compliance, as well as follow up with issues or complaints from customers.

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Credit / Collections Manager Tasks

  • Hire, manage, and motivate members of the collection team.
  • Manages small claims court documentation and makes decisions on accounts to be written off.
  • Oversee all general credit and collections processes.

Common Career Paths for Credit / Collections Manager


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At the upper end, Collections Managers who move into a Collections Director role can end up with a hefty increase in pay. The average income for Collections Directors is a much higher $104K per year. A Collections Manager often moves on to become a Credit Manager or a National Credit Manager.

Credit / Collections Manager Job Listings

Popular Skills for Credit / Collections Manager


Collections Managers report using a deep pool of skills on the job. Most notably, skills in Financial Analysis, Risk Management / Risk Control, Credit Control, and Customer Relationship Management (CRM) are correlated to pay that is above average. Those listing Account Management as a skill should be prepared for drastically lower pay. Customer Service and bill collections also typically command lower compensation. Those proficient in Accounts Receivable are, more often than not, also skilled in Credit Control and Customer Relationship Management (CRM).

Pay by Experience Level for Credit / Collections Manager

Pay by Experience for a Credit / Collections Manager has a positive trend. An entry-level Credit / Collections Manager with less than 5 years of experience can expect to earn an average total compensation of $45,000 based on 130 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Credit / Collections Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $51,000 based on 188 salaries. An experienced Credit / Collections Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $57,000 based on 354 salaries. A Credit / Collections Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $63,000 based on 234 salaries.

Pay Difference by Location

National Average: $57,125

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

For Collections Managers, working in the bustling city of San Jose has its advantages, including an above-average pay rate. Collections Managers can also look forward to large paychecks in cities like Dallas (+43 percent), Cleveland (+35 percent), New York (+33 percent), and Los Angeles (+29 percent). Location significantly influences compensation, with Columbus Collections Managers earning much less — 22 percent less — than the national average. Below-median salaries also turn up in Jacksonville and Tulsa (15 percent lower and 12 percent lower, respectively).

Credit / Collections Manager Reviews

Q: What is it like working as a Credit / Collections Manager?

Credit / Collections Manager in Washington:
Pros: Good experience builder. I interact with a lot of different people from across the IC on a regular basis.
Cons: Hard to move up on a contract. You are constantly surrounded by government employees that may or may not appreciate your presence.

Credit / Collections Manager in Garland:
"Corporat culture."
Pros: I Like the people I work with and I love giving good customers good lines of credit with us and help other who are having a hard time.
Cons: The pay does not match the work load.

Related Job Salaries

Key Stats for Credit / Collections Manager

Gender

Female
70 %
Male
30 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 120 votes.
Less than 1 year
1%
1-4 years
14%
5-9 years
16%
10-19 years
36%
20 years or more
34%

Experience Affects Credit / Collections Manager Salaries

▲11%

▲1%

National Average
$57,000

▼11%

▼20%

Skills That Affect Credit / Collections Manager Salaries





People Management
▼0%

National Average
$57,000



Microsoft Excel
▼1%

Negotiation
▼2%

▼5%



Account Management
▼25%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 120 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
1%
1-4 years
14%
5-9 years
16%
10-19 years
36%
20 years or more
34%

Common Health Benefits

medical benefits
Medical: 77%
dental benefits
Dental: 68%
vision benefits
Vision: 60%
no benefits
None: 19%