Collections/accounts receivable vs credit and collections analyst

The differences between collections/accounts receivables and credit and collections analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a collections/accounts receivable and a credit and collections analyst. Additionally, a credit and collections analyst has an average salary of $49,262, which is higher than the $38,949 average annual salary of a collections/accounts receivable.

The top three skills for a collections/accounts receivable include customer service, patients and delinquent accounts. The most important skills for a credit and collections analyst are customer service, credit limits, and past due accounts.

Collections/accounts receivable vs credit and collections analyst overview

	Collections/Accounts Receivable	Credit And Collections Analyst
Yearly salary	$38,949	$49,262
Hourly rate	$18.73	$23.68
Growth rate	-8%	-8%
Number of jobs	30,523	18,105
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 52%
Average age	46	46
Years of experience	12	12

What does a collections/accounts receivable do?

An officer for collections/accounts receivable is in charge of a company's financial activities, ensuring that they receive payment from clients. They primarily focus on overseeing all billing and invoices, processing and verifying all receipts and rendered services, maintaining an accurate record of all transactions, producing reports and presentations, reviewing account and payment histories, and ensuring the accuracy of all processes involving the matter. Furthermore, should there be any complex issues, it is essential to reach out to a manager or a supervisor right away.

What does a credit and collections analyst do?

A credit and collections analyst is responsible for evaluating clients' account statements and financial transactions, analyzing their credit scores, and creating payment plans for outstanding debts. Credit and collections analysts assist in handling account discrepancies and financial disputes, reaching out to financial institutions and clients to collect documents and necessary data for resolution processes. They also update the clients' information on the database, analyze the terms of service of contracts, and respond to the customers' inquiries and concerns regarding their account status.

Collections/accounts receivable vs credit and collections analyst salary

Collections/accounts receivables and credit and collections analysts have different pay scales, as shown below.

	Collections/Accounts Receivable	Credit And Collections Analyst
Average salary	$38,949	$49,262
Salary range	Between $30,000 And $49,000	Between $35,000 And $69,000
Highest paying City	Boston, MA	Bridgewater, NJ
Highest paying state	Connecticut	Connecticut
Best paying company	Apollo Global Management	Vishay
Best paying industry	Finance	Finance

Differences between collections/accounts receivable and credit and collections analyst education

There are a few differences between a collections/accounts receivable and a credit and collections analyst in terms of educational background:

	Collections/Accounts Receivable	Credit And Collections Analyst
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	-	-

Collections/accounts receivable vs credit and collections analyst demographics

Here are the differences between collections/accounts receivables' and credit and collections analysts' demographics:

	Collections/Accounts Receivable	Credit And Collections Analyst
Average age	46	46
Gender ratio	Male, 25.3% Female, 74.7%	Male, 30.0% Female, 70.0%
Race ratio	Black or African American, 12.0% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.4% American Indian and Alaska Native, 0.5%	Black or African American, 12.0% Unknown, 4.0% Hispanic or Latino, 20.5% Asian, 3.6% White, 59.4% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between collections/accounts receivable and credit and collections analyst duties and responsibilities

Collections/accounts receivable example responsibilities.

Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
Work accounts receivable for Medicaid verification and payments.
Work remittance advice from Medicaid ensuring accuracy of payments.
Research and obtain extensive knowledge of FDCPA debt recovery laws and assist in recovering commercial debt from organizations.
Communicate effectively with patients, physicians, hospital staff, and insurance representatives to ensure accuracy in claims processing.
Review claims to determine if process correctly and if necessary, direct patients to contact insurance companies regarding additional benefit questions.

Credit and collections analyst example responsibilities.

Represent and lead the collections' team during executive management weekly conference calls providing updates on the delinquent A/R reports.
Identify and submit financial adjustments using SOX controls and GAAP accounting principles, increasing monthly AR collection.
Develop and maintain detailed spreadsheets on all UCC activity for the branch for tracking purposes and follow-up.
Establish the UCC filing template and liaise with agent bank to get UCC filing in due time.
Oversee the DSO level and negotiate account settlements, payment plans, and attend small claims court for small businesses.
Attend regular credit meetings with order management, sales, treasury, and revenue recognition groups to resolve business issues.

Collections/accounts receivable vs credit and collections analyst skills

Common collections/accounts receivable skills

Customer Service, 21%
Patients, 6%
Delinquent Accounts, 5%
Credit Card Payments, 5%
Past Due Accounts, 5%
Customer Accounts, 5%

Common credit and collections analyst skills

Customer Service, 18%
Credit Limits, 5%
Past Due Accounts, 5%
Delinquent Accounts, 4%
Financial Statements, 4%
Credit Card Payments, 3%

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Collections/Accounts Receivable vs Credit And Collections Analyst

Updated January 8, 2025

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