Loan Collector, Commercial Salary
With just below three-fifths of Commercial Loan Collectors in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Commercial Loan Collectors is $43K per year and can range from $33K on the lower end to $64K per year near the higher end. Most people in this position report feeling highly satisfied with their jobs. Men account for the majority of Commercial Loan Collectors who responded to the questionnaire — 67 percent to be exact. While just under a third report receiving no health benefits, more than half do receive medical coverage, and a majority have dental, as well. The data for this snapshot was collected from individuals who took PayScale's salary survey.
|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).)
|$32,438 - $61,645|
Job Description for Loan Collector, Commercial
- 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.
Loan Collector, Commercial Job Listings
Pay by Experience Level for Loan Collector, Commercial
Pay by Experience for a Loan Collector, Commercial has a positive trend. An entry-level Loan Collector, Commercial with less than 5 years of experience can expect to earn an average total compensation of $32,000 based on 20 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Collector, Commercial with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $39,000 based on 19 salaries. An experienced Loan Collector, Commercial which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $41,000 based on 10 salaries. A Loan Collector, Commercial with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $42,000 based on 11 salaries.