Q: Is collections a good career?

No, collections is not typically viewed as a good career. While there is some opportunity to make good money, it typically pays around average wages. In addition to not paying significantly well, this position is often viewed negatively due to the fact that people who interact with collections generally are in a bad financial situation. This makes these roles challenging as the collections specialist must find a way to navigate often volatile conversations.

Question 1

How long does it take to become a Collections Specialist?

Accepted Answer

It takes 5 years of professional experience to become a collections specialist. That is the time it takes to learn specific collections specialist skills, but does not account for time spent in formal education.

Question 2

Is collections a good career?

Accepted Answer

No, collections is not typically viewed as a good career. While there is some opportunity to make good money, it typically pays around average wages.

In addition to not paying significantly well, this position is often viewed negatively due to the fact that people who interact with collections generally are in a bad financial situation. This makes these roles challenging as the collections specialist must find a way to navigate often volatile conversations.

Question 3

What are the duties of a collection specialist?

Accepted Answer

The duties of a collections specialist are to resolve overdue bills and collect payments from the individuals or businesses responsible for the debt. Their duties include locating those responsible for unpaid bills and setting up acceptable repayment terms to protect the financial assets of their employer.

Question 4

What is a good starting salary for a Collections Specialist?

Accepted Answer

A good starting salary for a collections specialist is $27,000 in the United States. That puts you in the 10th percentile of annual income for a collections specialist in the U.S., which is about what you would expect if you were new to the field. The average salary for collections specialists is $34,496, but that normally requires some level of experience to achieve. Furthermore, a good starting salary for a collections specialist can vary by state.

Question 5

How much can you make in collections?

Accepted Answer

The average salary for a person working in collections is around $34,000 in a year. This can range from $30,000 to over $40,000 in a year.

The salary of a person working in collections can vary depending on several factors. These factors include education and experience and industry, company, and location. The unique combinations of these five factors significantly influence what any individual working in collections will make.

Question 6

Can a collections specialist make 100k?

Accepted Answer

No, you cannot make $100,000 per year as a collections specialist. It is highly unlikely to earn over $100k because the average annual salary for a collections specialist is $34,496. Even collections specialists in higher-paid positions do not typically earn more than $43,000 per year.

Question 7

How much do collections specialists make?

Accepted Answer

The average salary for a collections specialist is around $34,000 in a year. This can range from $30,000 to over $40,000 in a year.

The salary of a collections specialist can vary depending on several factors. These factors include education and experience and industry, company, and location. The unique combinations of these five factors significantly influence what any individual collection specialist will make.

Question 8

What percentage of Collections Specialists are female?

Accepted Answer

69.5% of collections specialists are female in the United States. This is 5.7 percentage points higher than last year. Additionally, the percentage of female collections specialists has increased by 7.9 percentage points since 2010. That means there are a total of 69,992 female collections specialists in the U.S. and 30,717 male collections specialists in the United States. Note that Zippia's estimate accounts only for the 100,709 people with the specific job title of collections specialist and doesn't include grouping similar job titles, or people with potentially similar credentialing.

Question 9

How do you describe collections on a resume?

Accepted Answer

You describe collections on a resume in various ways depending on the type of collections. In general, collections typically mean someone who works with customers to collect their outstanding debts to an organization.

Question 10

How do you put collection experience on a resume?

Accepted Answer

You put collection experience on a resume in several ways - in your profile summary and experience section, as well as in your overall skills and achievements.

The key to putting collection experience on a resume is to focus on a few core skills and provide real-world examples of specific responsibilities and achievements.

Question 11

What should a debt collector put on a resume?

Accepted Answer

You should put on a debt collector resume qualifications and experience that highlight your skills as a debt collector. A debt collector's resume should include a profile summary, work experience, education, and skills section that convey to potential employers that you have what it takes to get the job done if hired.

Frequently asked questions about collections specialists

Questions about becoming a collections specialist