Collections associate vs credit and collections analyst

The differences between collections associates 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 associate and a credit and collections analyst. Additionally, a credit and collections analyst has an average salary of $49,262, which is higher than the $38,589 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 credit and collections analyst are customer service, credit limits, and past due accounts.

Collections associate vs credit and collections analyst overview

	Collections Associate	Credit And Collections Analyst
Yearly salary	$38,589	$49,262
Hourly rate	$18.55	$23.68
Growth rate	-8%	-8%
Number of jobs	20,297	18,105
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 43%	Bachelor's Degree, 52%
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 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 associate vs credit and collections analyst salary

Collections associates and credit and collections analysts have different pay scales, as shown below.

	Collections Associate	Credit And Collections Analyst
Average salary	$38,589	$49,262
Salary range	Between $23,000 And $63,000	Between $35,000 And $69,000
Highest paying City	Danbury, CT	Bridgewater, NJ
Highest paying state	Alaska	Connecticut
Best paying company	JPMorgan Chase & Co.	Vishay
Best paying industry	Finance	Finance

Differences between collections associate and credit and collections analyst education

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

	Collections Associate	Credit And Collections Analyst
Most common degree	Bachelor's Degree, 43%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	-	-

Collections associate vs credit and collections analyst demographics

Here are the differences between collections associates' and credit and collections analysts' demographics:

	Collections Associate	Credit And Collections Analyst
Average age	46	46
Gender ratio	Male, 34.4% Female, 65.6%	Male, 30.0% Female, 70.0%
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, 4.0% 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 associate and credit and collections analyst 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.

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 associate vs credit and collections analyst skills

Common collections associate skills

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

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 Associate
Collections Associate vs Credit And Collections Analyst

Updated January 8, 2025

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