Asset recovery specialist vs collector

The differences between asset recovery specialists and collectors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both an asset recovery specialist and a collector. Additionally, an asset recovery specialist has an average salary of $57,707, which is higher than the $34,872 average annual salary of a collector.

The top three skills for an asset recovery specialist include asset recovery, inbound calls and outbound calls. The most important skills for a collector are patients, customer service, and payment arrangements.

Asset recovery specialist vs collector overview

	Asset Recovery Specialist	Collector
Yearly salary	$57,707	$34,872
Hourly rate	$27.74	$16.77
Growth rate	-8%	-8%
Number of jobs	37,364	23,948
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 46%	Bachelor's Degree, 31%
Average age	46	46
Years of experience	12	12

Asset recovery specialist vs collector salary

Asset recovery specialists and collectors have different pay scales, as shown below.

	Asset Recovery Specialist	Collector
Average salary	$57,707	$34,872
Salary range	Between $39,000 And $84,000	Between $27,000 And $44,000
Highest paying City	-	Los Angeles, CA
Highest paying state	-	Alaska
Best paying company	-	Uline
Best paying industry	-	Finance

Differences between asset recovery specialist and collector education

There are a few differences between an asset recovery specialist and a collector in terms of educational background:

	Asset Recovery Specialist	Collector
Most common degree	Bachelor's Degree, 46%	Bachelor's Degree, 31%
Most common major	Business	Business
Most common college	-	-

Asset recovery specialist vs collector demographics

Here are the differences between asset recovery specialists' and collectors' demographics:

	Asset Recovery Specialist	Collector
Average age	46	46
Gender ratio	Male, 55.1% Female, 44.9%	Male, 36.0% Female, 64.0%
Race ratio	Black or African American, 11.6% Unknown, 4.1% Hispanic or Latino, 17.0% Asian, 3.7% White, 63.1% American Indian and Alaska Native, 0.5%	Black or African American, 12.1% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.5% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between asset recovery specialist and collector duties and responsibilities

Asset recovery specialist example responsibilities.

Manage university A/R processes and enforce tuition payment policy.
Handle sensitive information given according to FDCPA regulations and standards.
Create negotiation strategies that help increase revenue by reducing losses on third-party settlement transactions.
Submit additional information request by insurance companies such as medical records, primary/secondary insurance explanation of benefits (EOB).
Secure modification documents including HAMP and bank require documents.

Collector example responsibilities.

Manage patient focuse reports, collection modules, provider/facility A/R, collections, patient discharge letters.
Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
Provide customer service via telephone and correspondence for patients and authorize representatives regarding outstanding patient accounts in accordance with facility protocol.
Verify and run eligibility on the following insurance, Medi-Cal, Medi-Cal HMO, Medicare, Medicare HMO.
Provide excellent customer service while following HIPPA confidentiality laws.

Asset recovery specialist vs collector skills

Common asset recovery specialist skills

Asset Recovery, 19%
Inbound Calls, 11%
Outbound Calls, 10%
Customer Service, 8%
Foreclosure, 7%
Delinquent Accounts, 5%

Common collector skills

Patients, 14%
Customer Service, 10%
Payment Arrangements, 10%
Excellent Interpersonal, 9%
Delinquent Accounts, 8%
Student Loans, 5%