Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between collection analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become a collection analyst, becoming an analyst takes usually requires 2-4 years. Additionally, an analyst has an average salary of $73,007, which is higher than the $46,819 average annual salary of a collection analyst.
The top three skills for a collection analyst include customer service, portfolio and patients. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Collection Analyst | Analyst | |
| Yearly salary | $46,819 | $73,007 |
| Hourly rate | $22.51 | $35.10 |
| Growth rate | -8% | 11% |
| Number of jobs | 28,967 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 67% |
| Average age | 46 | 44 |
| Years of experience | 12 | 4 |
Collections analysts assess the riskiness of a company or person in credit extension and repayment collection. The analysts manage data processing contract procurement negotiation. They help in the quarterly and yearly external and internal audits. It is part of their job to collect the first payment default and make sure that portfolios are inappropriate performance. They also act on collection calls for the area of responsibility assigned to them.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Collection analysts and analysts have different pay scales, as shown below.
| Collection Analyst | Analyst | |
| Average salary | $46,819 | $73,007 |
| Salary range | Between $31,000 And $69,000 | Between $53,000 And $99,000 |
| Highest paying City | Washington, DC | Jersey City, NJ |
| Highest paying state | Connecticut | New Jersey |
| Best paying company | American Tower | The Citadel |
| Best paying industry | Technology | Technology |
There are a few differences between a collection analyst and an analyst in terms of educational background:
| Collection Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | - | Northwestern University |
Here are the differences between collection analysts' and analysts' demographics:
| Collection Analyst | Analyst | |
| Average age | 46 | 44 |
| Gender ratio | Male, 37.7% Female, 62.3% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 13.9% Unknown, 4.2% Hispanic or Latino, 18.6% Asian, 4.0% White, 58.8% American Indian and Alaska Native, 0.5% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 8% | 12% |