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The differences between collectors 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 collector and a collections coordinator. Additionally, a collections coordinator has an average salary of $37,938, which is higher than the $34,872 average annual salary of a collector.
The top three skills for a collector include patients, customer service and payment arrangements. The most important skills for a collections coordinator are customer service, patients, and phone calls.
| Collector | Collections Coordinator | |
| Yearly salary | $34,872 | $37,938 |
| Hourly rate | $16.77 | $18.24 |
| Growth rate | -8% | -8% |
| Number of jobs | 23,948 | 40,113 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 31% | Bachelor's Degree, 48% |
| Average age | 46 | 46 |
| Years of experience | 12 | 12 |
Collectors are responsible for monitoring and providing immediate actions for client accounts with overdue payments. Collectors must be able to contact clients through phone or e-mail. A collector's duty also includes negotiating on payment procedures and offering repayment plans and alternative payment solutions to free the debt. Collectors need to document any agreements made to the client, updating and verifying contact information, resolving account discrepancies and client complaints, and report escalated concerns to the management.
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.
Collectors and collections coordinators have different pay scales, as shown below.
| Collector | Collections Coordinator | |
| Average salary | $34,872 | $37,938 |
| Salary range | Between $27,000 And $44,000 | Between $30,000 And $47,000 |
| Highest paying City | Los Angeles, CA | New York, NY |
| Highest paying state | Alaska | Connecticut |
| Best paying company | Uline | University of California, Berkeley |
| Best paying industry | Finance | Professional |
There are a few differences between a collector and a collections coordinator in terms of educational background:
| Collector | Collections Coordinator | |
| Most common degree | Bachelor's Degree, 31% | Bachelor's Degree, 48% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between collectors' and collections coordinators' demographics:
| Collector | Collections Coordinator | |
| Average age | 46 | 46 |
| Gender ratio | Male, 36.0% Female, 64.0% | Male, 26.6% Female, 73.4% |
| Race ratio | Black or African American, 12.1% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.5% 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% |