Collections manager vs finance center manager

The differences between collections managers and finance center 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 finance center manager. Additionally, a collections manager has an average salary of $59,529, which is higher than the $58,763 average annual salary of a finance center manager.

The top three skills for a collections manager include customer service, collection management and portfolio. The most important skills for a finance center manager are customer service, exceptional client, and financial services.

Collections manager vs finance center manager overview

	Collections Manager	Finance Center Manager
Yearly salary	$59,529	$58,763
Hourly rate	$28.62	$28.25
Growth rate	17%	17%
Number of jobs	44,553	151,642
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 71%
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 finance center manager do?

The duties of a finance center manager depend on one's place or industry of employment. Typically, they are responsible for overseeing the operations of a financial center, ensuring everything is running smoothly. They are also responsible for performing clerical tasks such as producing progress reports and presentations, managing schedules, setting goals and deadlines, processing documents, and maintaining data and records of all financial activities. Furthermore, as a manager, it is essential to lead and encourage the team, all while implementing the company's policies and regulations.

Collections manager vs finance center manager salary

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

	Collections Manager	Finance Center Manager
Average salary	$59,529	$58,763
Salary range	Between $42,000 And $83,000	Between $33,000 And $104,000
Highest paying City	New York, NY	-
Highest paying state	New York	-
Best paying company	Amazon	-
Best paying industry	Health Care	-

Differences between collections manager and finance center manager education

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

	Collections Manager	Finance Center Manager
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 71%
Most common major	Business	Business
Most common college	Stanford University	University of Pennsylvania

Collections manager vs finance center manager demographics

Here are the differences between collections managers' and finance center managers' demographics:

	Collections Manager	Finance Center Manager
Average age	46	46
Gender ratio	Male, 50.8% Female, 49.2%	Male, 49.1% Female, 50.9%
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, 7.6% Unknown, 4.1% Hispanic or Latino, 14.7% Asian, 9.0% White, 64.2% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	11%

Differences between collections manager and finance center 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.

Finance center manager example responsibilities.

Assist in achieving strategic goals including deposit accounts, consumer loans, wealth management, and treasury products through personal production.
Support clinicians by regularly communicating on center s status, managing patient correspondence, fulfilling pharmaceutical needs, and discharging patients.
Perform extensive sales training and coaching in evaluating client needs, cross-selling appropriate products and services, and training team members.
Identify cross-selling opportunities and refer appropriate products.
Monitor authoritative guidance and conduct technical accounting research to ensure all financial statements and disclosures are presented in accordance with GAAP.
Service clients through referrals; deposit accounts; loans; treasury management and card services.

Collections manager vs finance center manager skills

Common collections manager skills

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

Common finance center manager skills

Customer Service, 22%
Exceptional Client, 16%
Financial Services, 16%
Regulatory Policies, 14%
Operational Procedures, 13%
Customer Relationships, 4%

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Collections Manager
Collections Manager vs Finance Center Manager

Updated January 8, 2025

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