Collections manager vs underwriting manager

The differences between collections managers and underwriting 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 underwriting manager. Additionally, an underwriting manager has an average salary of $77,426, 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 underwriting manager are customer service, portfolio, and risk management.

Collections manager vs underwriting manager overview

	Collections Manager	Underwriting Manager
Yearly salary	$59,529	$77,426
Hourly rate	$28.62	$37.22
Growth rate	17%	17%
Number of jobs	44,553	44,546
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 73%
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 underwriting manager do?

Underwriting managers work mostly in the financial and insurance industries to provide management for all underwriting activities, including loan applications and insurance products. They oversee a team of associate-level staff, assigning them insurance or loan plans to evaluate and underwrite, ensuring that they comprehend expectations and timelines, and provide support by answering questions. They are team leaders, leading associate-level underwriters altogether activities, supporting risk management, and financial due diligence activities. In addition, underwriting managers also play a significant role in developing and enacting policies and procedures in regional offices.

Collections manager vs underwriting manager salary

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

	Collections Manager	Underwriting Manager
Average salary	$59,529	$77,426
Salary range	Between $42,000 And $83,000	Between $50,000 And $119,000
Highest paying City	New York, NY	San Francisco, CA
Highest paying state	New York	New York
Best paying company	Amazon	W. R. Berkley
Best paying industry	Health Care	Insurance

Differences between collections manager and underwriting manager education

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

	Collections Manager	Underwriting Manager
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 73%
Most common major	Business	Business
Most common college	Stanford University	Stanford University

Collections manager vs underwriting manager demographics

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

	Collections Manager	Underwriting Manager
Average age	46	46
Gender ratio	Male, 50.8% Female, 49.2%	Male, 49.5% Female, 50.5%
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, 7.9% Unknown, 4.1% Hispanic or Latino, 15.3% Asian, 7.8% White, 64.6% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	11%

Differences between collections manager and underwriting 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.

Underwriting manager example responsibilities.

Manage the company underwriting department and coordinate origination efforts within OAIC, Ocwen's REIT.
Manage the execution of underwriting, portfolio analysis and account- base decision making in accordance with establish guidelines and processes.
Review of government sponsor (FHA, VA, USDA) loans to ensure adherence to specific policies and procedures.
Reduce number of loan input errors per file with quality underwrites, in which are further approve by FNMA & FHLMC
Direct all underwriting activities in the origination of home equity loans and lines of credit.
Train all staff members on successful sales techniques to help facilitate consumer, conventional, FHA, commercial mortgage loans.

Collections manager vs underwriting manager skills

Common collections manager skills

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

Common underwriting manager skills

Customer Service, 13%
Portfolio, 7%
Risk Management, 6%
Underwriting Guidelines, 6%
Financial Statements, 4%
Underwriting Process, 3%

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Collections Manager
Collections Manager vs Underwriting Manager

Updated January 8, 2025

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