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The differences between collectors and recovery specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a recovery specialist has an average salary of $51,598, 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 recovery specialist are customer service, mental health, and patients.
| Collector | Recovery Specialist | |
| Yearly salary | $34,872 | $51,598 |
| Hourly rate | $16.77 | $24.81 |
| Growth rate | -8% | - |
| Number of jobs | 23,948 | 1,905 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 31% | Bachelor's Degree, 43% |
| Average age | 46 | 24 |
| Years of experience | 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.
A recovery specialist has various responsibilities depending on their line of work or industry. In a business setting, a recovery specialist is in-charge of devising plans and strategies to protect a company or brand's networks, systems, data, hardware, and software. They primarily function to prevent damages or losses by implementing precautionary and corrective measures. Furthermore, a recovery specialist needs to coordinate with co-workers and team members, report to a manager or supervisor, and adhere to its policies and standards.
Collectors and recovery specialists have different pay scales, as shown below.
| Collector | Recovery Specialist | |
| Average salary | $34,872 | $51,598 |
| Salary range | Between $27,000 And $44,000 | Between $24,000 And $108,000 |
| Highest paying City | Los Angeles, CA | New York, NY |
| Highest paying state | Alaska | New York |
| Best paying company | Uline | Prime Healthcare |
| Best paying industry | Finance | - |
There are a few differences between a collector and a recovery specialist in terms of educational background:
| Collector | Recovery Specialist | |
| Most common degree | Bachelor's Degree, 31% | Bachelor's Degree, 43% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between collectors' and recovery specialists' demographics:
| Collector | Recovery Specialist | |
| Average age | 46 | 24 |
| Gender ratio | Male, 36.0% Female, 64.0% | Male, 39.3% Female, 60.7% |
| 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, 14.1% Unknown, 5.6% Hispanic or Latino, 19.6% Asian, 6.8% White, 53.2% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 8% | 4% |