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Salary and Benefits

Collections Specialist
$36K-$44K / yr. (est.)
$37K
$40,678 / year
$45K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Collections Specialist

What does a Collections Specialist do?

As Collections Specialists, we serve as the liaison between the creditors and consumers of a company. We communicate with the customers to ensure they make payments and evaluate all the expired accounts and maintain accurate records for them. We contact all customers through telephone calls or with notices to provide all updates for customers and manage all portfolios for clients. We coordinate with all team members to resolve all cash application issues and identify root causes for payment problems and fix them immediately. We also encourage customers to pay in time and develop payment plans.

Core tasks:

  • encourage clients to pay their debt
  • follow up with clients who haven’t paid
  • develop collection strategies
  • resolve payment problems

Insights

How Many Years of Experience Do Professionals Need Before Becoming Collections Specialist?
On average, people work 5-7 years in other positions prior to becoming a Collections Specialist.
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Collections SpecialistChicago, IL - A year ago
🙄 Who are these people working for? Because in my company, they promote people with less than a year of experience to Collections Specialist. What is this infographic even based on?
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Collections SpecialistHouston, TX - A year ago
💪 Finally some recognition. Works 5-7 years in other positions? That sounds about right. Such a tough and demanding job that not everyone can handle!
How Long Do Collections Specialist Employees Typically Stay in Their Roles?
On average, Collections Specialists works in this position for 3-5 years across multiple employers.
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Customer Service RepresentativeHouston, TX - A year ago
Collections specialists deserve more recognition for their tireless efforts in enforcing financial responsibilities!
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Marketing ManagerMiami, FL - A year ago
Why would anyone stay in this repetitive job for more than a few years? Seems like a career dead-end to me! 🤔
What Is the Job Hopper Score for Collections Specialist Employees?
Moderate job changes in Collections Specialist, showing some career movement without excessive turnover.
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Customer Service RepresentativeMiami, FL - A year ago
🤔 I see both sides of the argument. Collections Specialists who explore different roles can bring valuable perspectives, but having an expert in the field can provide stability in customer interactions.
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Operations ManagerHouston, TX - A year ago
I believe that moderate job changes can create a pool of well-rounded Collections Specialists, leading to improved process efficiency and adaptability.

Career path

Path to job

Discover a Collections Specialist's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Collections Specialist typically studied at.
Arizona State University-Tempe
DeVry University-Arizona

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Collections Specialist Employees?
Gender ratio in Collections Specialist position: 0.413073644563386 Male and 0.586926355436614 Female. Age ratio in Collections Specialist position: 16-20: 17%, 21-30: 61%, 31-40: 13%, 41-50: 6%, 51-60: 3%, 60+: 0%. Collections Specialist position is predominantly female (58.7%) with the largest age group being 21-30 years old, followed by 16-20 years old.
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Collections SpecialistPhoenix, AZ - A year ago
Perhaps older folks have moved on to higher-level positions within the industry? 🤔
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Collections SpecialistPhiladelphia, PA - A year ago
The youth-centric workforce is concerning. We need more experienced individuals to bring maturity to the role. 🚶

Workplaces

Who Are the Top Employers for Collections Specialist?
Top employers of Collections Specialist position: American Red Cross, Bank of America, Parallon. People who work in Collections Specialist position most typically go on to work for the American Red Cross.
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Collections SpecialistMiami, FL - A year ago
Why limit yourself to just these three options? There are plenty of other employers in the field with better opportunities and benefits!
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Collections SpecialistSeattle, WA - A year ago
I'm happy working for the American Red Cross as a Collections Specialist. Making a difference in people's lives is more important to me than the salary!
American Red Cross
Bank of America
Parallon
What Industries Does Collections Specialist Typically Have Experience In?
Industry Background: The most typical industries of Collections Specialist: Finance & Insurance, Professional / Scientific / Technical, Health Care, Information Technology, Administrative & Support. Collections Specialist employees most likely come from a Finance & Insurance industry background.
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Collections SpecialistHouston, TX - A year ago
We gotta be prepared for everything in Houston. I've had people try to intimidate me into stopping collections on legitimate debts!
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Collections SpecialistSeattle, WA - A year ago
Isn't it frustrating in Seattle when debtors get away with not paying and we're left empty-handed? 😡

Find your job as Collections Specialist

Discussion about Collections Specialist

Want to know more about Collections Specialist position?
Share your thoughts and ideas about Collections Specialist position with others in our community.
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Is Collections Specialist a female or male dominated profession?
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Isabella Holmes3 years ago
The women/men ratio is well balanced.
How old are people who work as a Collections Specialist?
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Benjamin Gardner3 years ago
People working as a Collections Specialist are 27 old on average.
How many years of experience do you usually have as a Collections Specialist?
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Liam Brown3 years ago
You should work for 6 years on average to become a Collections Specialist.
What industries does a Collections Specialist typically work in?
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Liam Brown3 years ago
Finance & Insurance is the most frequent for a Collections Specialist.
What kind of higher education a Collections Specialist need?
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Sophie Hayes3 years ago
No higher education could not hurt if you want to be a Collections Specialist
Which company is likely to have openings for Collections Specialist positions?
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Benjamin Gardner3 years ago
It’s common for a Collections Specialist to work for American Red Cross, Bank of America, Parallon, PNC and Wells Fargo
How long do you usually work as a Collections Specialist before changing to another position?
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Isabella Holmes3 years ago
A Collections Specialist typically changes positions after 4 years.
How common is it for a Collections Specialist to jump from company to company?
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Benjamin Gardner3 years ago
On average a Collections Specialist works for only a few companies.
From which job titles people come from to work as a Collections Specialist?
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Sophie Hayes3 years ago
Customer Service Representative, Collector or Accounts Receivable Specialist are the typical prior positions for a Collections Specialist
What are the typical next steps for someone working as a Collections Specialist?
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Benjamin Gardner3 years ago
Consider the following: Customer Service Representative, Accounts Receivable Specialist or Credit Analyst
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