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Collection agent vs agent

The differences between collection agents and agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, an agent has an average salary of $37,864, which is higher than the $32,689 average annual salary of a collection agent.

The top three skills for a collection agent include customer service, payment arrangements and delinquent accounts. The most important skills for an agent are insurance products, customer service, and life insurance.

Collection agent vs agent overview

Collection AgentAgent
Yearly salary$32,689$37,864
Hourly rate$15.72$18.20
Growth rate-8%6%
Number of jobs47,837184,325
Job satisfaction-2
Most common degreeHigh School Diploma, 34%Bachelor's Degree, 44%
Average age4646
Years of experience12-

What does a collection agent do?

A collections agent is responsible for communicating with clients to collect payment for their overdue bills and outstanding balances. Collections agents monitor and update a customer's account information in the system, offer repayment plans, manage billing disputes, negotiate sales terms, and maintain records of account resolution. They must evaluate customers' credit reports and delinquency levels to skip tracing priorities. A collections agent must have excellent communication and customer service skills to listen to customers' requests and initiate payment procedures.

What does an agent do?

Agents are individuals who are employed by their clients to represent them in various dealings. Agents are usually employed by people in the show business industry, such as actors, writers, or directors. They meet people who are interested in dealing with their clients. They listen to the plans and vision for the project and assess if the project fits their clients' interests or public image. In the case of agents whose clients are actors, they send their clients to auditions upon review of the project details. Agents are also responsible for negotiating terms on behalf of their clients, such as salary, royalties, and set benefits, among others. They also inform the project leaders of their clients' demands on set. Agents are expected to be business-savvy and good negotiators.

Collection agent vs agent salary

Collection agents and agents have different pay scales, as shown below.

Collection AgentAgent
Average salary$32,689$37,864
Salary rangeBetween $22,000 And $48,000Between $19,000 And $72,000
Highest paying CityLivingston, NJNew York, NY
Highest paying stateNew JerseyNew York
Best paying companyJM Family EnterprisesLatham & Watkins
Best paying industryFinance-

Differences between collection agent and agent education

There are a few differences between a collection agent and an agent in terms of educational background:

Collection AgentAgent
Most common degreeHigh School Diploma, 34%Bachelor's Degree, 44%
Most common majorBusinessBusiness
Most common college-University of Pennsylvania

Collection agent vs agent demographics

Here are the differences between collection agents' and agents' demographics:

Collection AgentAgent
Average age4646
Gender ratioMale, 37.3% Female, 62.7%Male, 50.5% Female, 49.5%
Race ratioBlack or African American, 12.3% Unknown, 4.0% Hispanic or Latino, 19.5% Asian, 3.6% White, 60.1% American Indian and Alaska Native, 0.5%Black or African American, 9.2% Unknown, 3.6% Hispanic or Latino, 15.8% Asian, 4.9% White, 66.4% American Indian and Alaska Native, 0.1%
LGBT Percentage8%7%

Differences between collection agent and agent duties and responsibilities

Collection agent example responsibilities.

  • Manage patient focuse reports, collection modules, provider/facility A/R, collections, patient discharge letters.
  • Used computer GPS to locate vehicles.
  • Input assignments and update clients via computer programs (RDN and PRIOS).
  • Demonstrate professionalism and customer support while following FDCPA guidelines.
  • Assist in preventing impending losses and increase profitability through negotiation and enforcement of schedule collection campaigns.
  • Utilize effective negotiation skills by collecting payments from debtors of unpaid accounts via telephone and written communication.
    • Show more

Agent example responsibilities.

  • Schedule and meet individuals\groups for assign or self-generate leads, assist and enroll eligible individuals in suitable Medicare product.
  • Verify documentation and coding using CPT and ICD-9 correct coding standards.
  • Assist TANF customers with obtaining employment.
  • Direct compliance with all CPT and Medicare guidelines.
  • Train BDC representatives on phone skills and CRM use.
  • Bill appropriate ICD-9 codes to the correct insurance companies.
    • Show more

Collection agent vs agent skills

Common collection agent skills
  • Customer Service, 20%
  • Payment Arrangements, 19%
  • Delinquent Accounts, 7%
  • Debt Repayment, 6%
  • Past Due Accounts, 5%
  • Debt Collection, 3%
Common agent skills
  • Insurance Products, 11%
  • Customer Service, 10%
  • Life Insurance, 8%
  • HR, 6%
  • Inbound Calls, 6%
  • Financial Services, 6%

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Updated January 8, 2025

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