Collections manager vs bank manager

The differences between collections managers and bank 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 a bank manager. Additionally, a bank manager has an average salary of $96,910, 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 a bank manager are bank products, financial services, and business development.

Collections manager vs bank manager overview

	Collections Manager	Bank Manager
Yearly salary	$59,529	$96,910
Hourly rate	$28.62	$46.59
Growth rate	17%	17%
Number of jobs	44,553	66,136
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 64%
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 a bank manager do?

A bank manager is responsible for supervising banking operations and monitoring staff performance in providing the best customer service for clients with their banking needs and financial transactions. Bank managers assist the staff with the complexities of processes, train new hires, and strategize the development of services that would contribute to the bank's success. They also conduct fund audits and create accounts receivable reports at the end of the day. A bank manager responds to clients' inquiries and concerns, resolve complaints, and manage account disputes.

Collections manager vs bank manager salary

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

	Collections Manager	Bank Manager
Average salary	$59,529	$96,910
Salary range	Between $42,000 And $83,000	Between $65,000 And $142,000
Highest paying City	New York, NY	San Francisco, CA
Highest paying state	New York	California
Best paying company	Amazon	Accenture
Best paying industry	Health Care	Finance

Differences between collections manager and bank manager education

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

	Collections Manager	Bank Manager
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 64%
Most common major	Business	Business
Most common college	Stanford University	University of Pennsylvania

Collections manager vs bank manager demographics

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

	Collections Manager	Bank Manager
Average age	46	46
Gender ratio	Male, 50.8% Female, 49.2%	Male, 48.9% Female, 51.1%
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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.3% Asian, 10.0% White, 63.7% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	11%

Differences between collections manager and bank 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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Bank manager example responsibilities.

Manage a portfolio in various stages of workout including liquidation, refinancing, restructure, rehabilitation, bankruptcy and litigation.
Collaborate with corporate training designers and facilitators to plan, develop and execute AML and KYC relate training.
Handle escalations in the absence of the FCM; ensure enterprise complaint tracking own resource management for the financial center.
Team up with FCM and regional recruiter in interview and hiring process.
Perform other jobs and relate projects as assigned including mentoring sales employees to exceed assign goals by Bancorp.
Monitor all banking operations according to the federal rules and regulations, including performing monthly audits, and following Bancorp standards.

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Collections manager vs bank manager skills

Common collections manager skills

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

Common bank manager skills

Bank Products, 7%
Financial Services, 7%
Business Development, 6%
Secrecy, 6%
Bank Secrecy Act, 6%
Community Involvement, 5%

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Updated January 8, 2025

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