Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between collectors and debt collectors 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 debt collector. Additionally, a collector has an average salary of $34,872, which is higher than the $33,865 average annual salary of a debt collector.
The top three skills for a collector include patients, customer service and payment arrangements. The most important skills for a debt collector are customer service, outbound calls, and payment arrangements.
| Collector | Debt Collector | |
| Yearly salary | $34,872 | $33,865 |
| Hourly rate | $16.77 | $16.28 |
| Growth rate | -8% | -8% |
| Number of jobs | 23,948 | 23,385 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 31% | High School Diploma, 34% |
| 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.
Debt collectors are also known as collection agencies and are responsible for recovering past due debts. Most of them are hired by companies to collect debt either for a fee or a percentage of the total amount recovered. Also, some debt collectors buy delinquent debts at a discount and seek to collect the debt's full amount. They have many strategies to collect debts, including calling debtor's phones, sending letters, and even visiting them at their home. However, if debtors fail to pay their due, debt collectors can either update the debtor's credit report or sue them over debt. Once sued and debtors ignore court hearings and lose by default, results could either be garnishment on debtor'debtors' wages or levies on their bank.
Collectors and debt collectors have different pay scales, as shown below.
| Collector | Debt Collector | |
| Average salary | $34,872 | $33,865 |
| Salary range | Between $27,000 And $44,000 | Between $26,000 And $43,000 |
| Highest paying City | Los Angeles, CA | San Francisco, CA |
| Highest paying state | Alaska | California |
| Best paying company | Uline | Mayor Ethan Berkowitz |
| Best paying industry | Finance | Construction |
There are a few differences between a collector and a debt collector in terms of educational background:
| Collector | Debt Collector | |
| Most common degree | Bachelor's Degree, 31% | High School Diploma, 34% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between collectors' and debt collectors' demographics:
| Collector | Debt Collector | |
| Average age | 46 | 46 |
| Gender ratio | Male, 36.0% Female, 64.0% | Male, 30.7% Female, 69.3% |
| 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, 12.2% Unknown, 4.0% Hispanic or Latino, 20.0% Asian, 3.4% White, 59.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |