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The differences between collections specialists and account specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a collections specialist and an account specialist. Additionally, an account specialist has an average salary of $42,586, which is higher than the $35,164 average annual salary of a collections specialist.
The top three skills for a collections specialist include customer service, patients and customer accounts. The most important skills for an account specialist are customer service, patients, and account management.
| Collections Specialist | Account Specialist | |
| Yearly salary | $35,164 | $42,586 |
| Hourly rate | $16.91 | $20.47 |
| Growth rate | -8% | -8% |
| Number of jobs | 40,277 | 116,010 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 54% |
| Average age | 46 | 46 |
| Years of experience | 12 | 12 |
As their name entails, collections specialists collect payments for the outstanding accounts receivables. Collections specialists list the names of those who were unable to pay their overdue bills based on their delinquency severity. They locate the customers through loan documents, background checks, credit bureau information, and other databases or paperwork. These specialists are expected to be excellent in their negotiation and communication skills. They should also be trustworthy, reliable, and act professionally to be considered as good specialists.
An account specialist is responsible for reaching out to customers or potential clients through calls, emails, and other forms of correspondence to secure sales and strengthen business relations. An account specialist may also perform other tasks such as arranging appointment schedules with clients, providing price quotes and responding to further inquiries, process orders, generating sales leads, and handling complaints and resolving issues. Furthermore, an account specialist may also be involved in developing strategies, finding new opportunities, producing and completing necessary documents, and preparing reports, all in adherence to the company's policies and regulations.
Collections specialists and account specialists have different pay scales, as shown below.
| Collections Specialist | Account Specialist | |
| Average salary | $35,164 | $42,586 |
| Salary range | Between $27,000 And $45,000 | Between $28,000 And $62,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Connecticut | Virginia |
| Best paying company | Kent Daniels & Associates | Microsoft |
| Best paying industry | Finance | Finance |
There are a few differences between a collections specialist and an account specialist in terms of educational background:
| Collections Specialist | Account Specialist | |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 54% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between collections specialists' and account specialists' demographics:
| Collections Specialist | Account Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 30.5% Female, 69.5% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 12.2% Unknown, 4.1% Hispanic or Latino, 18.5% Asian, 3.7% White, 61.0% American Indian and Alaska Native, 0.5% | Black or African American, 13.2% Unknown, 4.1% Hispanic or Latino, 17.8% Asian, 3.7% White, 60.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |