Collections manager vs asset manager

The differences between collections managers and asset managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a collections manager and an asset manager. Additionally, an asset manager has an average salary of $85,814, which is higher than the $59,529 average annual salary of a collections manager.

The top three skills for a collections manager include customer service, collection management and portfolio. The most important skills for an asset manager are asset management, financial statements, and property management.

Collections manager vs asset manager overview

	Collections Manager	Asset Manager
Yearly salary	$59,529	$85,814
Hourly rate	$28.62	$41.26
Growth rate	17%	17%
Number of jobs	44,553	64,732
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 68%
Average age	46	46
Years of experience	8	8

What does a collections manager do?

A collections manager is an individual who manages a staff of collectors whose job is to contact companies and individuals for the late payments on the products and services they have received. Collections managers oversee a company's process of retrieving money owed to them by assigning collectors to collect the money. They are required to handle customer complaints and must negotiate with customers about payment arrangements to ensure they are being paid. They also provide reports on the collection department's progress, statistics, and data analysis.

What does an asset manager do?

An asset manager is responsible for advising clients with their investment preferences and financial goals based on their assets' quantity and value. Asset managers regularly meet with their clients regarding their asset management's progress, recommending more investment options and considering the clients' needs. They manage financial portfolios and prepare stock market reports and forecasts as needed. An asset manager must have a broad knowledge of the financial industry and investment processes, identifying profit opportunities for long-term investment objectives.

Collections manager vs asset manager salary

Collections managers and asset managers have different pay scales, as shown below.

	Collections Manager	Asset Manager
Average salary	$59,529	$85,814
Salary range	Between $42,000 And $83,000	Between $59,000 And $123,000
Highest paying City	New York, NY	New York, NY
Highest paying state	New York	New York
Best paying company	Amazon	Deutsche Bank
Best paying industry	Health Care	Finance

Differences between collections manager and asset manager education

There are a few differences between a collections manager and an asset manager in terms of educational background:

	Collections Manager	Asset Manager
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 68%
Most common major	Business	Business
Most common college	Stanford University	Stanford University

Collections manager vs asset manager demographics

Here are the differences between collections managers' and asset managers' demographics:

	Collections Manager	Asset Manager
Average age	46	46
Gender ratio	Male, 50.8% Female, 49.2%	Male, 64.3% Female, 35.7%
Race ratio	Black or African American, 8.0% Unknown, 4.1% Hispanic or Latino, 15.5% Asian, 7.3% White, 64.7% American Indian and Alaska Native, 0.3%	Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.9% White, 63.8% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	11%

Differences between collections manager and asset manager duties and responsibilities

Collections manager example responsibilities.

Achieve 182 FTE save, and annual net saving of $2.8MM
Manage Medicaid accounts in effort to receive payment from them.
Manage self pay and Medicaid pending collections throughout the southeast region.
Organize the managed care effort to ensure that patients are not accept from incorrect PPO's and HMO's.
Create and implement new quantitative process to achieve corporate DSO targets that determines monthly cash collection targets by business unit.
Achieve historical low of six percent in A/R over 30 days past due and reduction of DSO to 53 days.

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Asset manager example responsibilities.

Manage and improve the processes require to support server end of life and normal windows patching processes.
Manage a pipeline of assets/projects through the project life cycle of short sale/deed in lieu of foreclosure through closing.
Manage and facilitate IRB investigations of report non-compliance and/or scientific misconduct.
Recognize for financial acumen, successfully managing invoicing, vendor accounts, reconciliations, and target reports.
Manage commercial and multifamily REO portfolio preparing property operating plans to enhance value and marketability of REO asset
Trade structured product securities for accounts manage by other portfolio managers base on economic conditions and the needs of specific portfolios.

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Collections manager vs asset manager skills

Common collections manager skills

Customer Service, 15%
Collection Management, 9%
Portfolio, 7%
FDCPA, 5%
Delinquent Accounts, 4%
Credit Card, 4%

Common asset manager skills

Asset Management, 20%
Financial Statements, 7%
Property Management, 7%
Customer Service, 6%
Oversight, 5%
Loan Portfolio, 5%

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Updated January 8, 2025

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