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The differences between collections specialists and collections coordinators 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 a collections coordinator. Additionally, a collections coordinator has an average salary of $37,938, 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 a collections coordinator are customer service, patients, and phone calls.
| Collections Specialist | Collections Coordinator | |
| Yearly salary | $35,164 | $37,938 |
| Hourly rate | $16.91 | $18.24 |
| Growth rate | -8% | -8% |
| Number of jobs | 40,277 | 40,113 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 48% |
| 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.
Usually working alongside a company's account receivables team, a collections coordinator is in charge of developing strategies to optimize the payment collection operations. Among their responsibilities include reaching out to clients through calls or correspondence to remind them of their payment obligations, arranging appointments, processing payments, arranging payment terms, and researching a client's communication information such as cellphone number, address, or email. Moreover, a collections coordinator must maintain an active communication line with staff while promoting and enforcing the company's policies and regulations.
Collections specialists and collections coordinators have different pay scales, as shown below.
| Collections Specialist | Collections Coordinator | |
| Average salary | $35,164 | $37,938 |
| Salary range | Between $27,000 And $45,000 | Between $30,000 And $47,000 |
| Highest paying City | Boston, MA | New York, NY |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | Kent Daniels & Associates | University of California, Berkeley |
| Best paying industry | Finance | Professional |
There are a few differences between a collections specialist and a collections coordinator in terms of educational background:
| Collections Specialist | Collections Coordinator | |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 48% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between collections specialists' and collections coordinators' demographics:
| Collections Specialist | Collections Coordinator | |
| Average age | 46 | 46 |
| Gender ratio | Male, 30.5% Female, 69.5% | Male, 26.6% Female, 73.4% |
| 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, 12.1% Unknown, 4.1% Hispanic or Latino, 20.8% Asian, 3.6% White, 59.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |