Collections associate vs collections/accounts receivable

The differences between collections associates and collections/accounts receivables 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 associate and a collections/accounts receivable. Additionally, a collections/accounts receivable has an average salary of $38,949, which is higher than the $38,589 average annual salary of a collections associate.

The top three skills for a collections associate include phone calls, customer service and UPC. The most important skills for a collections/accounts receivable are customer service, patients, and delinquent accounts.

Collections associate vs collections/accounts receivable overview

	Collections Associate	Collections/Accounts Receivable
Yearly salary	$38,589	$38,949
Hourly rate	$18.55	$18.73
Growth rate	-8%	-8%
Number of jobs	20,297	30,523
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 43%	Bachelor's Degree, 40%
Average age	46	46
Years of experience	12	12

What does a collections associate do?

A collections associate is an individual who acts as a liaison between creditors and customers to collect outstanding payments and negotiates debt payments. Collections associates must contact debtors through telephone to negotiate debt recovery and prevent recurring delinquency. They must enact debt recovery plans and collaborate with other departments on debt collection strategies. They are required to research publicly-available resources such as loan documents and background checks to track down defaulters. They must also initiate legal proceedings when debt recovery fails and send statements of delinquency to the credit bureau.

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.

Collections associate vs collections/accounts receivable salary

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

	Collections Associate	Collections/Accounts Receivable
Average salary	$38,589	$38,949
Salary range	Between $23,000 And $63,000	Between $30,000 And $49,000
Highest paying City	Danbury, CT	Boston, MA
Highest paying state	Alaska	Connecticut
Best paying company	JPMorgan Chase & Co.	Apollo Global Management
Best paying industry	Finance	Finance

Differences between collections associate and collections/accounts receivable education

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

	Collections Associate	Collections/Accounts Receivable
Most common degree	Bachelor's Degree, 43%	Bachelor's Degree, 40%
Most common major	Business	Business
Most common college	-	-

Collections associate vs collections/accounts receivable demographics

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

	Collections Associate	Collections/Accounts Receivable
Average age	46	46
Gender ratio	Male, 34.4% Female, 65.6%	Male, 25.3% Female, 74.7%
Race ratio	Black or African American, 12.3% Unknown, 4.2% Hispanic or Latino, 17.5% Asian, 3.8% White, 61.7% American Indian and Alaska Native, 0.5%	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%
LGBT Percentage	8%	8%

Differences between collections associate and collections/accounts receivable duties and responsibilities

Collections associate example responsibilities.

Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
Perform follow up on Medicaid accounts.
Execute assertive collection skills for inbound/outbound calls while meeting FDCPA guidelines.
Call center collections following FDCPA guidelines for third party outbound collections.
Perform collections activities on delinquent loan accounts to include repossessions, foreclosures, bankruptcy proceedings, and disposition of repossess assets.
Position requires knowledge of Medicaid/Medicare formulary of cover drugs, the dosage and restrictions.

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.

Collections associate vs collections/accounts receivable skills

Common collections associate skills

Phone Calls, 16%
Customer Service, 14%
UPC, 10%
Time Card, 7%
Retail Store, 7%
Patients, 4%

Common collections/accounts receivable skills

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

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Office and Administrative Industry
Collections Associate
Collections Associate vs Collections/Accounts Receivable

Updated January 8, 2025

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