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Collection supervisor hiring summary. Here are some key points about hiring collection supervisors in the United States:
Here's a step-by-step collection supervisor hiring guide:
Collection Supervisors are responsible for managing the operations of credit card debt collection. Their duties include overseeing credit applications, supervising the debt collection team, setting team goals, making sure collectors adhere to regulations, laws, and protocols, creating progress spreadsheets, coordinating activities for debt collectors, and assess delinquent accounts. They also organize team workload, write official debt collection letters, authorize repossessions, and supervise difficult collection cases. A Collection Supervisor participates in implementing credit procedures and policies that contribute to smooth operations.
Before you post your collection supervisor job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a collection supervisor for hire on a part-time basis or as a contractor.
You should also consider the ideal background you'd like them a collection supervisor to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a collection supervisor that fits the bill.
Here's a comparison of collection supervisor salaries for various roles:
| Type of Collection Supervisor | Description | Hourly rate |
|---|---|---|
| Collection Supervisor | $21-44 | |
| Credit And Collection Manager | A credit and collection manager is responsible for evaluating credit services and supervising the credit and collection team in reaching out to clients with outstanding debts and credit applications. Credit and collection managers oversee the cash flow systems and identify opportunities to minimize excessive loss and resolve credit disputes... Show more | $22-52 |
| Office Supervisor | An office supervisor is responsible for overseeing the progress of the workflow and workforce in an office or similar setting, ensuring everything is running smoothly. Aside from this, they must also carry out other tasks such as processing paperwork, preparing reports and presentations, managing schedules, responding to inquiries, and handling correspondence... Show more | $14-28 |
Including a salary range in the collection supervisor job description is a good way to get more applicants. A collection supervisor salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a collection supervisor in Arizona may be lower than in New York, and an entry-level engineer typically earns less than a senior-level collection supervisor. Additionally, a collection supervisor with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New Jersey | $77,735 | $37 |
| 2 | New York | $76,702 | $37 |
| 3 | Virginia | $73,586 | $35 |
| 4 | Washington | $73,387 | $35 |
| 5 | California | $67,060 | $32 |
| 6 | Hawaii | $66,928 | $32 |
| 7 | Michigan | $66,861 | $32 |
| 8 | Illinois | $65,772 | $32 |
| 9 | Oregon | $65,566 | $32 |
| 10 | Pennsylvania | $64,750 | $31 |
| 11 | Indiana | $63,575 | $31 |
| 12 | Colorado | $60,430 | $29 |
| 13 | Texas | $60,312 | $29 |
| 14 | Florida | $59,250 | $28 |
| 15 | Maryland | $58,975 | $28 |
| 16 | Missouri | $57,857 | $28 |
| 17 | Utah | $57,211 | $28 |
| 18 | Louisiana | $56,326 | $27 |
| 19 | Oklahoma | $56,092 | $27 |
| 20 | South Carolina | $52,182 | $25 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Intuitive Surgical | $110,557 | $53.15 | |
| 2 | J.P. Morgan | $86,822 | $41.74 | |
| 3 | City of Detroit | $84,300 | $40.53 | |
| 4 | JPMorgan Chase & Co. | $80,949 | $38.92 | 5 |
| 5 | Philips | $77,788 | $37.40 | |
| 6 | Great American Insurance | $76,604 | $36.83 | 1 |
| 7 | Fiserv | $76,468 | $36.76 | 5 |
| 8 | Omnicom Media Group | $71,466 | $34.36 | |
| 9 | Akin Gump Strauss Hauer & Feld | $69,629 | $33.48 | |
| 10 | Mechanics Savings Bank | $69,277 | $33.31 | 2 |
| 11 | Bath & Body Works | $67,144 | $32.28 | |
| 12 | Community Health Systems | $66,764 | $32.10 | 10 |
| 13 | Aquarion Water | $66,620 | $32.03 | |
| 14 | King County | $65,711 | $31.59 | |
| 15 | Canon | $65,359 | $31.42 | 8 |
| 16 | Choice Hotels | $64,573 | $31.04 | 1 |
| 17 | Nefcu | $63,695 | $30.62 | |
| 18 | BenefitMall | $62,585 | $30.09 | |
| 19 | Catholic Health East | $61,849 | $29.74 | 1 |
| 20 | Fresenius Medical Care North America Holdings Limited Partnership | $61,524 | $29.58 |
A collection supervisor job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a collection supervisor job description:
There are various strategies that you can use to find the right collection supervisor for your business:
During your first interview to recruit collection supervisors, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the collection supervisor position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.
It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
To prepare for the new collection supervisor first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
Before you start to hire collection supervisors, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire collection supervisors pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
You can expect to pay around $64,766 per year for a collection supervisor, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for collection supervisors in the US typically range between $21 and $44 an hour.