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Job outlook for collections managers in the United States
Collections manager job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected collections manager job growth rate is 17% from 2018-2028.
About 123,100 new jobs for collections managers are projected over the next decade.
Collections manager salaries have increased 10% for collections managers in the last 5 years.
There are over 19,151 collections managers currently employed in the United States.
There are 44,553 active collections manager job openings in the US.
The average collections manager salary is $59,529.
Are collections manager jobs in demand?
Collections manager job and salary trends over time
Collections manager jobs over time
Collections manager job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 19,151 | 0.01% |
| 2020 | 18,509 | 0.01% |
| 2019 | 18,665 | 0.01% |
| 2018 | 17,597 | 0.01% |
| 2017 | 16,771 | 0.01% |
Average collections manager salary over time
Collections manager salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $59,529 | $28.62 | +3.3% |
| 2025 | $57,626 | $27.70 | +1.5% |
| 2024 | $56,783 | $27.30 | +2.3% |
| 2023 | $55,492 | $26.68 | +2.7% |
| 2022 | $54,015 | $25.97 | +3.2% |
Collections manager jobs by state
Most common states for collections managers
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 238 | 34% |
| 2 | Washington | 7,405,743 | 649 | 9% |
| 3 | Massachusetts | 6,859,819 | 607 | 9% |
| 4 | Delaware | 961,939 | 90 | 9% |
| 5 | Illinois | 12,802,023 | 1,017 | 8% |
| 6 | Georgia | 10,429,379 | 788 | 8% |
| 7 | Virginia | 8,470,020 | 718 | 8% |
| 8 | Arizona | 7,016,270 | 559 | 8% |
| 9 | Maryland | 6,052,177 | 489 | 8% |
| 10 | Colorado | 5,607,154 | 470 | 8% |
| 11 | Connecticut | 3,588,184 | 284 | 8% |
| 12 | Utah | 3,101,833 | 243 | 8% |
| 13 | California | 39,536,653 | 2,947 | 7% |
| 14 | New York | 19,849,399 | 1,292 | 7% |
| 15 | Pennsylvania | 12,805,537 | 846 | 7% |
| 16 | Missouri | 6,113,532 | 423 | 7% |
| 17 | Minnesota | 5,576,606 | 413 | 7% |
| 18 | Alaska | 739,795 | 50 | 7% |
| 19 | Ohio | 11,658,609 | 647 | 6% |
| 20 | Oregon | 4,142,776 | 268 | 6% |
Most common cities for collections managers
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Colleyville | 1 | 4% | $55,655 |
| 2 | Elk Grove Village | 1 | 3% | $55,796 |
| 3 | Englewood | 1 | 3% | $53,114 |
| 4 | Kennesaw | 1 | 3% | $44,702 |
| 5 | Norwalk | 2 | 2% | $62,623 |
| 6 | Bedford | 1 | 2% | $55,663 |
| 7 | Grapevine | 1 | 2% | $55,627 |
| 8 | Haltom City | 1 | 2% | $55,699 |
| 9 | Keller | 1 | 2% | $55,653 |
| 10 | Urban Honolulu | 2 | 1% | $57,637 |
| 11 | Hartford | 1 | 1% | $60,369 |
| 12 | Chicago | 2 | 0% | $55,896 |
| 13 | New York | 2 | 0% | $73,253 |
| 14 | Anchorage | 1 | 0% | $56,287 |
| 15 | Aurora | 1 | 0% | $53,092 |
| 16 | Colorado Springs | 1 | 0% | $53,126 |
Collections Manager job outlook: Expert opinions
Our panel of collections manager experts
University of Alaska Fairbanks
San Francisco State University
Sacred Heart University
Indiana University Bloomington
The University of Akron
Centenary College of Louisiana
University of Arkansas at Little Rock
Red Rocks Community College
What Collections Manager skills would you recommend for someone trying to advance their career?
Jaunelle Celaire: Never stop learning! This may consist of going back to school, earning new certifications in your field of study, attending conferences and seminars, and making sure that your time management is always at its finest level of excellence.
Bruce Heiman Ph.D.
Professor of International BusinessSan Francisco State University
Department of International Business
What skills will help Collections Managers earn the most?
Bruce Heiman Ph.D.: -Previous internship/practicum experience in the industry
-Ability to identify and solve problems in an effective manner
-Ability to deploy design/creativity tools in the service of finding and solving problems
-Evidence of ability to manage in the relevant non-English language(s)
-Prior job experience/deep training in a related area
-Prior experience/training managing people/teams
-Ability/experience in working in a team and concretely increasing the team's performance in measurable ways
-Ability to speak with and relate well to people at all levels of an organization, including below, peers, above, and outsiders
-Skills (deep) in working in other cultures and respecting the values and conventions of that culture. Multiple cultures would be worth more
What technical skills for a Collections Manager stand out to employers?
Keith Hassell: Employers are increasingly looking for applied skillsets and additional certifications to set a candidate apart. Sacred Heart University has recently launched a remote work certification, which houses three modules - focusing on the remote worker, the remote team and the remote leader, providing the tools and resources to comfortably leverage and utilize virtual platforms at various organizations. Additional specialized training, certifications and more are great selling tools pending on the specific area of interest. Certifications are common in areas such as project management, sales, IT/network/software, Google application and more. The candidate needs to think, "What can I do that is beyond my coursework to show I am passionate about my field? How do I make myself stand out?" Certifications is an attainable way to do this.
In addition, soft skills continue to be equally important in today's job market. NACE (the National Association of Colleges and Employers) identified seven core competencies that employers seek from entry level candidates which include critical thinking/problem solving, oral/written communication, teamwork/collaboration, digital technology, leadership, professionalism/work ethic, career management and global/intercultural fluency.
Will there be an enduring impact of the coronavirus pandemic on Collections Managers?
Kerem Cakirer Ph.D.: In short, definitely. The way the world is moving forward in business may not have changed its course drastically; however, the pace of the change (digitalization) has exponentially increased due to the pandemic circumstances. The pandemic forced businesses hand to transform their businesses into more digital and online form. After the coronavirus pandemic, businesses will focus on more remote and off site working. The graduates must be well equipped with technological skills to excel in a more digitalized world than ever. The pandemic has changed the skill set which the graduates must have.
Rhiannon Kallis Ph.D.
Assistant Professor of Social MediaThe University of Akron
School of Communication
Will there be an enduring impact of the coronavirus pandemic on Collections Managers?
Rhiannon Kallis Ph.D.: While some industries and organizations might be on a hiring freeze due to the impact of Covid-19, other organizations who are surviving and/or thriving during the pandemic will be looking for entry-level graduates. Although there were unavoidable interruptions in entering the workplace recently and challenges to overcome during Covid-19, I don't believe this will be a long-lasting detriment to those qualified graduates looking for employment.
Dr. Barbara Davis
William J. Atkins DeanCentenary College of Louisiana
Frost School of Business
What experience really stands out on Collections Manager resumes?
Dr. Barbara Davis: Graduates participating in internships related to their areas of interest. Internships spanning more than one semester at the same firm stand out as well.
What skills stand out on Collections Manager resumes?
Dr. Timothy Edwards: Writing and research skills. Analytical and critical thinking skills. Technical skills such as web design, graphic design, audio and video production skills. Employers are interested in potential employees knowledge, intelligence and skills.
Janet Tarase
Lead Accounting Faculty / Accounting Department ChairRed Rocks Community College
Accounting Department
What are the biggest trends we'll see in the Collections Manager job market given the pandemic?
Janet Tarase: Even though over 7 million people are currently unemployed, employers still need individuals to maintain their operations. Human Resource departments are recruiting individuals through social media platforms. My daughter works in HR recruiting and they only use LinkedIn. Companies are using video or phone interviews to select candidates. Which means that potential candidates have to communicate effectively and make a good first impression quickly.
Employers will be looking for individuals that have proven communication, organizational and time management skills that are able to work independently since telecommuting will be continuing in the future. Applicants will also need to have technological and critical thinking skills to manage the challenges presented while working from home. Because of the pandemic and so many of us having to work from home, companies may broaden their recruiting geography to find the best candidates out of state or in different time zones. Finally, employees need to be flexible and resilient - you never know what the next job requirement will demand.