Working as a Collections Specialist

There is more than meets the eye when it comes to being a collections specialist. For example, did you know that they make an average of $16.31 an hour? That's $33,926 a year!

Between 2018 and 2028, the career is expected to grow -8% and produce -19,400 job opportunities across the U.S.

What Does a Collections Specialist Do

There are certain skills that many collections specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed speaking skills, negotiating skills and listening skills.

When it comes to the most important skills required to be a collections specialist, we found that a lot of resumes listed 14.4% of collections specialists included customer service, while 7.4% of resumes included communication, and 6.7% of resumes included payment arrangements. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the collections specialist job title. But what industry to start with? Most collections specialists actually find jobs in the professional and finance industries.

How To Become a Collections Specialist

If you're interested in becoming a collections specialist, one of the first things to consider is how much education you need. We've determined that 26.6% of collections specialists have a bachelor's degree. In terms of higher education levels, we found that 4.3% of collections specialists have master's degrees. Even though some collections specialists have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a collections specialist. When we researched the most common majors for a collections specialist, we found that they most commonly earn high school diploma degrees or bachelor's degree degrees. Other degrees that we often see on collections specialist resumes include associate degree degrees or diploma degrees.

You may find that experience in other jobs will help you become a collections specialist. In fact, many collections specialist jobs require experience in a role such as customer service representative. Meanwhile, many collections specialists also have previous career experience in roles such as cashier or sales associate.

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Average Salary$33,926
Job Growth Rate-8%

Collections Specialist Jobs

Collections Specialist Career Paths

Top Careers Before Collections Specialist
Cashier10.7 %
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Top Careers After Collections Specialist
Cashier7.1 %
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What is the right job for my career path?

Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Collections Specialist

Collections Specialists in America make an average salary of $33,926 per year or $16 per hour. The top 10 percent makes over $43,000 per year, while the bottom 10 percent under $26,000 per year.
Average Salary
$33,926

Best Paying Cities

City
Average Salary

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Collection Specialists
Collection Specialists
Navient Corp
Navient Corp
07/29/2020
07/29/2020
$32,34907/29/2020
$32,349
Bilingual-Collection Specialists
Bilingual-Collection Specialists
Navient Corp
Navient Corp
07/29/2020
07/29/2020
$32,34907/29/2020
$32,349
Collections Specialist
Collections Specialist
Cortech LLC
Cortech LLC
07/27/2020
07/27/2020
$28,48807/27/2020
$28,488
Collections Specialist
Collections Specialist
Thrivas
Thrivas
07/25/2020
07/25/2020
$37,56607/25/2020
$37,566
Collections Specialist
Collections Specialist
Robert Half
Robert Half
07/22/2020
07/22/2020
$38,67207/22/2020
$38,672
See More Recent Salaries

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Collections Specialist Demographics

Gender

Female

66.4 %

Male

29.1 %

Unknown

4.4 %
Ethnicity

White

62.3 %

Hispanic or Latino

16.7 %

Black or African American

11.7 %
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Foreign Languages Spoken

Spanish

79.8 %

French

6.4 %

Portuguese

2.9 %
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Collections Specialist Education

Schools

Kaplan University

11.2 %

Strayer University

9.1 %

Ashford University

7.7 %

Bryant and Stratton College

5.5 %
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Majors

Business

30.1 %

Health Care Administration

9.7 %

Accounting

9.4 %

Medical Assisting Services

6.5 %
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Degrees

High School Diploma

30.0 %

Bachelors

26.6 %

Associate

21.8 %

Certificate

9.1 %
Show More

Entry Level Jobs For Becoming A Collections Specialist

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Full Time
Part Time
Internship
Temporary

Top Skills For a Collections Specialist

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 14.4% of collections specialists listed customer service on their resume, but soft skills such as speaking skills and negotiating skills are important as well.

Best States For a Collections Specialist

Some places are better than others when it comes to starting a career as a collections specialist. The best states for people in this position are Delaware, West Virginia, Connecticut, and Maryland. Collections specialists make the most in Delaware with an average salary of $52,108. Whereas in West Virginia and Connecticut, they would average $49,921 and $46,529, respectively. While collections specialists would only make an average of $46,166 in Maryland, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Delaware

Total Collections Specialist Jobs:
65
Highest 10% Earn:
$86,000
Location Quotient:
1.14
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Rhode Island

Total Collections Specialist Jobs:
90
Highest 10% Earn:
$69,000
Location Quotient:
1.45
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Kentucky

Total Collections Specialist Jobs:
227
Highest 10% Earn:
$60,000
Location Quotient:
1.23
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
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Collections Specialist Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a collections specialist. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

At Zippia, we went through countless collections specialist resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Write a Collections Specialist Resume

At Zippia, we went through countless collections specialist resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Detailed Information

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Top Collections Specialist Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ collections specialists and discovered their number of collections specialist opportunities and average salary. Through our research, we concluded that American Red Cross was the best, especially with an average salary of $34,842. Wells Fargo follows up with an average salary of $42,050, and then comes Citi with an average of $73,912. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a collections specialist. The employers include American Express, Shell Point Retirement Community, and ManpowerGroup

1. American Red Cross
4.1
Avg. Salary: 
$34,842
Collections Specialists Hired: 
803+
2. Wells Fargo
4.8
Avg. Salary: 
$42,050
Collections Specialists Hired: 
623+
3. Citi
4.9
Avg. Salary: 
$73,912
Collections Specialists Hired: 
471+
4. JPMorgan Chase
4.9
Avg. Salary: 
$75,304
Collections Specialists Hired: 
329+
5. Robert Half International
4.5
Avg. Salary: 
$42,552
Collections Specialists Hired: 
292+
6. GC Services Limited Partnership
3.6
Avg. Salary: 
$34,878
Collections Specialists Hired: 
290+

Collections Specialist Videos

Recently Added Collections Specialist Jobs

Updated October 2, 2020