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The differences between account resolution analysts and collections specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both an account resolution analyst and a collections specialist. Additionally, an account resolution analyst has an average salary of $44,937, which is higher than the $35,164 average annual salary of a collections specialist.
The top three skills for an account resolution analyst include escalate, credit balances and customer accounts. The most important skills for a collections specialist are customer service, patients, and customer accounts.
An account resolution analyst is someone who investigates and determines delinquent accounts, locate and help customers resolve their outstanding balances. In service providers, the threat of delinquent accounts is high, especially with the fluctuating economy. For this reason, companies need an account resolution analyst to help the company collect delayed payments. The resolution analyst will also investigate the customer to know the main reason for the financial difficulty and inability to pay on time.
As their name entails, collections specialists collect payments for the outstanding accounts receivables. Collections specialists list the names of those who were unable to pay their overdue bills based on their delinquency severity. They locate the customers through loan documents, background checks, credit bureau information, and other databases or paperwork. These specialists are expected to be excellent in their negotiation and communication skills. They should also be trustworthy, reliable, and act professionally to be considered as good specialists.
Account resolution analysts and collections specialists have different pay scales, as shown below.
| Account Resolution Analyst | Collections Specialist | |
| Average salary | $44,937 | $35,164 |
| Salary range | Between $31,000 And $64,000 | Between $27,000 And $45,000 |
| Highest paying City | - | Boston, MA |
| Highest paying state | - | Connecticut |
| Best paying company | - | Kent Daniels & Associates |
| Best paying industry | - | Finance |
There are a few differences between an account resolution analyst and a collections specialist in terms of educational background:
| Account Resolution Analyst | Collections Specialist | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 34% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between account resolution analysts' and collections specialists' demographics:
| Account Resolution Analyst | Collections Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 34.4% Female, 65.6% | Male, 30.5% Female, 69.5% |
| Race ratio | Black or African American, 12.3% Unknown, 4.1% Hispanic or Latino, 14.9% Asian, 3.8% White, 64.4% American Indian and Alaska Native, 0.5% | Black or African American, 12.2% Unknown, 4.1% Hispanic or Latino, 18.5% Asian, 3.7% White, 61.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |