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The differences between collections specialists and specialists can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become a collections specialist, becoming a specialist takes usually requires 1-2 years. Additionally, a specialist has an average salary of $58,013, 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 specialist are patients, customer service, and work ethic.
| Collections Specialist | Specialist | |
| Yearly salary | $35,164 | $58,013 |
| Hourly rate | $16.91 | $27.89 |
| Growth rate | -8% | 10% |
| Number of jobs | 40,277 | 358,433 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 49% |
| Average age | 46 | 42 |
| Years of experience | 12 | 2 |
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.
Specialists are employees who are responsible for specific tasks or activities in the department they are assigned to. The actions or tasks they work on are related to their educational background or work experiences. They are usually highly skilled in specializations related to the work they are assigned to. Specialists are also highly trained on the competencies that are required of their specialty. As such, they are focused on the skills and competencies that are needed to enhance their experience in their specific field further.
Collections specialists and specialists have different pay scales, as shown below.
| Collections Specialist | Specialist | |
| Average salary | $35,164 | $58,013 |
| Salary range | Between $27,000 And $45,000 | Between $32,000 And $104,000 |
| Highest paying City | Boston, MA | Jersey City, NJ |
| Highest paying state | Connecticut | New Jersey |
| Best paying company | Kent Daniels & Associates | The Citadel |
| Best paying industry | Finance | - |
There are a few differences between a collections specialist and a specialist in terms of educational background:
| Collections Specialist | Specialist | |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 49% |
| Most common major | Business | Business |
| Most common college | - | Stanford University |
Here are the differences between collections specialists' and specialists' demographics:
| Collections Specialist | Specialist | |
| Average age | 46 | 42 |
| Gender ratio | Male, 30.5% Female, 69.5% | Male, 47.5% Female, 52.5% |
| 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, 11.4% Unknown, 5.4% Hispanic or Latino, 16.4% Asian, 10.5% White, 55.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 11% |