Debt collector salaries: Debt Collector Salary | Salary.com

Debt Collector Salary (November 2022) – Zippia

Updated August 22, 2022

$16.28hourly

To create our salary estimates, Zippia starts with data published in publicly available sources such as the U.S. Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC) Show More

$33,865 yearly

Entry level Salary

$26,000

yearly

$26,000

10 %

$33,865

Median

$43,000

90 %

How much does a Debt Collector make?

Debt collectors make $33,865 per year on average, or $16.28 per hour, in the United States. Debt collectors on the lower end of that spectrum, the bottom 10% to be exact, make roughly $26,000 a year, while the top 10% makes $43,000.

Location impacts how much a debt collector can expect to make. Debt collectors make the most in California, Washington, Virginia, Alaska, and New Jersey.

Highest Paying State

California

Highest Paying City

San Francisco, CA

Highest Paying Company

Mayor Ethan Berkowitz

What Am I Worth?

Highest Paying State

California

Highest Paying City

San Francisco, CA

Highest Paying Company

Mayor Ethan Berkowitz

What Am I Worth?

Highest Paying States For Debt Collectors

The darker areas on the map show where debt collectors earn the highest salaries across all 50 states.

• State View
• County View

Average Salary:

Debt Collector average salary by State

Rank	State	Avg. Salary	Hourly Rate	Job Count
1	Washington	$42,112	$20.25	250
2	New Jersey	$40,272	$19.36	293
3	Maryland	$39,849	$19.16	254
4	District of Columbia	$44,636	$21.46	55
5	Virginia	$41,483	$19.94	271
6	California	$42,856	$20.60	946
7	Alaska	$40,730	$19.58	25
8	Massachusetts	$39,471	$18.98	281
9	Colorado	$37,743	$18.15	206
10	Idaho	$38,995	$18. 75	32
11	Georgia	$34,988	$16.82	395
12	Wisconsin	$36,577	$17.59	138
13	Rhode Island	$34,623	$16.65	47
14	Missouri	$34,188	$16.44	226
15	New York	$36,659	$17.62	516
16	Pennsylvania	$32,583	$15.66	479
17	Texas	$33,330	$16.02	799
18	Nevada	$34,432	$16.55	69
19	North Dakota	$34,845	$16.75	23
20	Minnesota	$33,996	$16.34	249
21	Montana	$35,704	$17.17	24
22	Oregon	$34,031	$16.36	172
23	Mississippi	$35,582	$17. 11	39
24	Tennessee	$31,515	$15.15	232
25	Connecticut	$35,672	$17.15	84
26	Alabama	$33,322	$16.02	106
27	Vermont	$33,391	$16.05	27
28	Wyoming	$34,145	$16.42	9
29	New Hampshire	$32,599	$15.67	65
30	Utah	$31,219	$15.01	136
31	Arizona	$31,468	$15.13	293
32	Florida	$31,444	$15.12	791
33	Kentucky	$30,271	$14.55	149
34	Iowa	$31,138	$14.97	127
35	Ohio	$30,777	$14.80	374
36	North Carolina	$31,322	$15. 06	320
37	Illinois	$32,796	$15.77	382
38	Michigan	$31,123	$14.96	250
39	Arkansas	$29,465	$14.17	106
40	Maine	$31,734	$15.26	40
41	Hawaii	$36,130	$17.37	16
42	Indiana	$30,400	$14.62	216
43	New Mexico	$31,716	$15.25	43
44	Nebraska	$29,784	$14.32	80
45	Louisiana	$30,653	$14.74	93
46	South Carolina	$29,991	$14.42	118
47	Kansas	$29,131	$14.01	77
48	Delaware	$29,341	$14.11	31
49	Oklahoma	$28,827	$13. 86	70
50	West Virginia	$27,618	$13.28	29
51	South Dakota	$26,704	$12.84	22

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Highest Paying Cities For Debt Collectors

Rank	City	Avg. Salary	Hourly Rate
1	San Francisco, CA	$43,385	$20.86
2	Vancouver, WA	$42,411	$20.39
3	Anchorage, AK	$40,832	$19.63
4	Denver, CO	$37,781	$18.16
5	Buffalo, NY	$36,095	$17.35
6	Missoula, MT	$36,067	$17.34
7	Atlanta, GA	$35,009	$16.83
8	Kansas City, MO	$34,505	$16.59
9	Las Vegas, NV	$34,366	$16.52
10	San Antonio, TX	$33,726	$16.21
11	Memphis, TN	$31,756	$15.27
12	Lakeland, FL	$31,562	$15.17
13	Glendale, AZ	$31,459	$15.12
14	Cleveland, OH	$31,407	$15. 10
15	West Des Moines, IA	$31,104	$14.95

Debt Collector Salary Details

Average Debt Collector Salary Graph, Trends, and Summary

What is a Debt Collector’s Salary?

Average Salary By Related Titles

Job Title	Annual Salary	Monthly Salary	Hourly Rate	Job Openings
Account Representative	$36,977	$3,081	$17. 78	183,446
Collections/Accounts Receivable	$38,949	$3,246	$18.73	30,523
Collections, Customer Service	$32,870	$2,739	$15.80	161,544
Collections Representative	$34,015	$2,835	$16.35	85,275
Collection Agent	$32,689	$2,724	$15.72	47,837
Medical Collector	$36,235	$3,020	$17.42	73,797

Here are the five companies hiring the most now:

1. Wells Fargo Jobs (48)
2. Enhanced Recovery Company Jobs (69)
3. Bank of America Jobs (52)
4. Citi Jobs (92)
5. Franklin Service Jobs (71)

Which Companies Pay Debt Collectors The Most?

According to our most recent salary estimates, Mayor Ethan Berkowitz and Waste Connections are the highest paying companies for debt collectors.

How Much Do Debt Collectors Make In Different Industries?

Debt collector salaries can vary depending on the industry. In fact, our data shows that the construction, finance, and retail industries tend to offer much higher salaries for debt collectors. For example, debt collectors make a whopping average salary of $34,803 while working in the construction industry. Meanwhile, other people in this field are making $34,423 in the finance industry and $33,953 in the retail industry.

Debt collectors may want to avoid working in the professional industry as it offers the lowest average salary of $31,826.

Highest Paying Industries For Debt Collectors

Rank	Industry	Average Salary	Hourly Rate
1	Construction	$34,803	$16.73
2	Finance	$34,423	$16.55
3	Retail	$33,953	$16.32
4	Manufacturing	$33,847	$16.27
5	Technology	$33,017	$15. 87
6	Health Care	$32,501	$15.63
7	Professional	$31,826	$15.30

High Paying Debt Collector Jobs

Debt Collector Salary Trends

The salary for a debt collector can vary depending on the years of experience that a person has, from entry level to senior level. Data on how experience level affects total compensation is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, complexity, contacts, and environment.

Entry Level

Senior Level

Average Debt Collector Salary Over Time

Compare salaries for individual cities or states with the national average.

Recently Added Debt Collector Salaries

Debt Collector Salaries FAQs

What State Pays Debt Collectors The Most?

California pays Debt Collectors the most in the United States, with an average salary of $44,636 per year, or $21. 46 per hour.

How Do I Know If I’m Being Paid Fairly As A Debt Collector?

You know if you are being paid fairly as a Debt Collector if your pay is close to the average pay for the state you live in. For example, if you live in California you should be paid close to $42,856 per year.

What Type Of Debt Collector Gets Paid The Most?

Senior Collector gets paid the most. Senior Collector made a median salary of $85,626. The best-paid 10 percent make $113,000, while the lowest-paid 10 percent make $64,000.

Have more questions? See all answers to common office and administrative questions.

Search For Debt Collector Jobs

Updated August 22, 2022

Debt Collector Salary in United States – $34,500

Mint salariesDebt CollectorUnited States

Average salary

$34,500/yr

Based on 1,482 income tax records

$17,000

$68,500

Age:

Average salary by age

18-25

26-35

36-45

46-55

56+

$17,000

$68,500

How much do Debt Collectors make?

The average total salary for a Debt Collector is $34,500 per year. This is based on data from 1,482 TurboTax users who reported their occupation as Debt Collector and includes taxable wages, tips, bonuses, and more. Debt Collector salary can vary between $17,000 to $68,500 depending on factors including education, skills, experience, employer & location. Read more

Learn more about Mint Salary

DATA PROVIDED BY

Based on income reported to the IRS in box 1 of W-2.

From consenting TurboTax customers

Similar Occupations

Debt Collector salary by location

View as a list

Debt Collector salary by company

Employer

Average salary per year*

Salary range**

Portfolio Recovery Associates, Reno County, KS

16 income tax records

$43,500/yr

$29K – $61K

Alltran Financial, Brazos County, TX

13 income tax records

$35,000/yr

$16K – $53K

Debt Collector demographics in United States

77% are single

23% are married

39% have kids

25% own a home

Effective Tax Rates for Debt Collectors in United States

1,482 full-time salaries from 2019

FAQS

The average salary for a debt collector in the United States is $34,500 per year. Debt collector salaries
in the United States can vary between $17,000 to $68,500 and depend on various factors, including skills, experience, employer, bonuses,
tips, and more.

Was this helpful?

This data is exclusive to Mint Salary and is based on 1,482 tax returns from TurboTax customers
who reported their occupation as debt collector.

Was this helpful?

The following cities offer the highest salaries for debt collectors in the United States:
Los Angeles Metro Area, CA ($48,000 a year),
Boston Metro Area, MA ($48,000 a year),
and Charlotte Metro Area, NC ($44,500 a year).

Was this helpful?

Other Occupations

See more

*

Total salary amounts here include total taxable wages, tips, prizes and other compensation. Salaries here are not representative of the total population and may reflect different levels of experience or education. Learn more

**

Total salary ranges shown here exclude outliers.

description, where to study, necessary qualities

Author:
Flyura Yagofarova

Updated by October 30, 2022

Collector is a debt specialist. He acts as a kind of intermediary between the debtor and the creditor (the creditor is most often a bank or a microfinance organization). Although there are many stories on the Internet about debt collectors that go beyond the law and intimidate debtors, in reality, the work of such a specialist must comply with legal norms and requirements. This is a profession that is quite popular and in demand in the modern labor market, belonging to a greater extent to the category of “man-to-man”. By the way, the ProfGid career guidance center has recently developed an accurate career guidance test that will tell you which professions suit you, give an opinion about your personality type and intelligence.
The profession is suitable for those who have no interest in school subjects (see below).

choosing a profession based on interest in school subjects).

Contents:

• Brief description: who is a collector?
• Features of the profession
• Pluses and minuses of the profession of the collector
  • Plus
  • BES
• Important personal qualities
• Courses
  • Tours

  900AM Salary of the collector (work with debts) for October 2022

  • Career development
  • Professional knowledge
  • Famous collection agencies
  • Examples of companies with vacancies in the collection (debt management)

  See also:

  Brief description: who is a collector?

  Collectors usually work for collection agencies. Such agencies receive remuneration in the amount of a certain percentage of the amount of debts returned. The specifics of recovering funds from a client who has assumed any financial obligations, but does not fulfill them in a timely manner, depends on their nature. However, in general, it is aimed at preventing the growth of debt and ensuring its repayment as quickly as possible. In the most difficult cases, collectors work in cooperation with law enforcement officers, including bailiffs.

  Occupational features

  A collector is required to have sufficient knowledge in several areas. He must understand the specifics of the financial industry, its legal aspects, be able to find and process large amounts of information, and also have a good understanding of human psychology. All this is necessary to cope with the following main responsibilities:

  • Finding the debtor and establishing contact with him.
  • Informing about the existing debt and methods of its repayment (by methods and methods permitted by law).
  • Negotiating with the debtor, holding personal meetings in the manner prescribed by legal norms.
  • Clarification of the current financial situation of the debtor, search and offer of various ways to resolve it.
  • Use of tools permitted by law to obtain information about the debtor.
  • Appeal to law enforcement agencies in case of unsuccessful attempts to negotiate with the debtor in a pre-trial order.
  • Work in cooperation with the FSSP in the recovery of debt based on the results of the court.

  All those actions of representatives of collection agencies that often become the subject of heated debate – threats, visiting debtors in a manner different from the law, transferring personal information to third parties – are absolutely unprofessional and are not part of the collector’s duties.

  See also:

  Pros and cons of the collector profession

  Pros

  1. The popularity of collectors and collection agencies.
  2. A rather high percentage of remuneration for repaid debts.
  3. Opportunity to expand knowledge in the financial sector and retrain in a related industry.
  4. Understanding the basics of human psychology, applicable in everyday life and personal life.

  Minuses

  1. Ambiguous attitude of the society towards the representatives of the profession.
  2. Potential financial difficulties associated with the fact that in order to receive a reward, you need to achieve the desired actions from the debtor.
  3. Relatively high level of stress.

  Important personal qualities

  In order to successfully fill a collector’s vacancy, stress resistance, communication skills, perseverance, determination, the ability to find an approach to people and convince them, as well as analytical thinking, legal and financial literacy, will not interfere. This is a job for extroverts who do not experience psychological stress when communicating (including negatively colored ones).

  Collector training

  Everyone knows what a collector is, but few know where one can get such a profession. There is no such specialty in universities and colleges, although higher education of an economic or legal nature will not interfere with successful work and building a career in this field. Many collection agencies looking for new employees teach applicants the necessary knowledge and skills in special short courses. This is the best option for where to get the profession of a collector. Former law enforcement officers are especially willing to be hired by such agencies, but even without experience in such structures (and if you have the necessary personal qualities), you can succeed in this field.

  See also:

  Courses

  School of Professional Collectors “Debt Collection Training”

  This school offers courses on training collectors in Moscow. The program was developed in cooperation with representatives of the bailiff service and provides for the acquisition of all the necessary skills to successfully start working in a collection agency. Upon completion of studies, participants receive certificates of the established form.

  Top colleges for collectors

  As already noted, the collector’s profession itself does not correspond to any particular specialization of secondary or higher education. However, it is best suited for those who already have a higher legal or economic education, so here are a few examples of popular universities for collectors in these profiles:

  1. Moscow State Law Academy
  2. MUI
  3. Lomonosov Moscow State University
  4. NRU HSE
  5. RUDN
  6. MGEU

  Place of work

  Collectors work in collection agencies or open their own organizations of a similar nature. Only a legal entity, and not an individual entrepreneur, has the right to engage in this type of activity.

  Read also:

  Salary of the collector

  Salary of the collector (work with debts) for October 2022

  Salary information provided by the portal hh. ru.

  Russia 30000—100000₽

  Moscow 35000—80000₽

  The level of the collector’s income directly depends on the success of his activity, as well as on how “problematic” the debtors under whose contracts he works are.

  Career growth

  This profession does not involve significant career growth, although over time such a specialist can take a leadership position (or, as already noted, open his own company).

  Professional knowledge

  1. Legal aspects of pre-trial, judicial and out-of-court debt recovery.
  2. Legal instruments for debt management.
  3. Legal instruments for settling debt obligations.
  4. Fundamentals of psychology.
  5. Fundamentals of Economics.

  Well-known collection agencies

  1. NSV is one of the largest domestic collection agencies, including many Russian banks.
  2. Sentinel is an agency founded by Alfa-Bank and subsequently expanding its scope of activities to work with the debts of other organizations.
  3. M.B.A. Finance is part of the international M.B.A. Empire, which also operates in Russia with large domestic banks.

  See also:

  Examples of companies with debt collection vacancies0016

Collector: who is it, how to get a job, salary

Collector – a debt collection specialist who acts as an intermediary between the debtor and the creditor.

Description of the profession

• Collectors work in the interests of the bank or other organization that issued the loan. The services of specialists in debt collection are used by telecom operators, large retail chains that provide goods by installments. But still, most of the people with whom the specialists work are debtors of banks or microcredit organizations.

• The main obligation of the collector is to convince the debtor to return the debt to the creditor. In extreme cases, the debt is collected through the courts. Debt collectors work with both individuals and legal entities.

• According to law , collector has the right to call the debtor, send him SMS notifications, but not too often: no more than 2 times a day, 4 times a week and 16 times a month. The collector can personally meet with the borrower or his representative in order to convince him to repay the debt. The specialist collects information about the debtor and his assets, for this he sends requests to the registry office or the Ministry of Internal Affairs.

Find out moreHide

Required qualities and skills

Ability to hear and listen
The ability to convince
Focus on results

Salary trajectory

The salary of a collector varies depending on his experience and skills.

40000 ₽ 9CHARTSITER

60000 ₽

Senior collector

65000 ₽

Senior shift

70000 ₽

Head of the unit

75000 ₽

Head of the recovery

85000 ₽ 9000

Collection agency director

Career trajectory

A collector can build a career up to the position of director of a collection agency.

Collector

21 years old

Senior collector

22 years old

Senior shift

23 years old

Head of the unit

24 years old

Head of the recovery

25,0002

Collection agency

26 years old

Director of a collection agency

30 years old

Where to get a profession

Some higher educational institutions are planning to start teaching the profession of a collector in the near future. If you have a higher education, you can take specialized courses under the program “Specialist in collection activities” at the Financial University under the Government of the Russian Federation.

Courses:

• Financial University under the Government of the Russian Federation

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