Collector lead vs collections manager

The differences between collector leads and collections managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become a collector lead, becoming a collections manager takes usually requires 6-8 years. Additionally, a collector lead has an average salary of $99,625, which is higher than the $59,529 average annual salary of a collections manager.

The top three skills for a collector lead include customer service, collection calls and payment arrangements. The most important skills for a collections manager are customer service, collection management, and portfolio.

Collector lead vs collections manager overview

	Collector Lead	Collections Manager
Yearly salary	$99,625	$59,529
Hourly rate	$47.90	$28.62
Growth rate	-8%	17%
Number of jobs	6,919	44,553
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 39%	Bachelor's Degree, 51%
Average age	46	46
Years of experience	12	8

Collector lead vs collections manager salary

Collector leads and collections managers have different pay scales, as shown below.

	Collector Lead	Collections Manager
Average salary	$99,625	$59,529
Salary range	Between $63,000 And $155,000	Between $42,000 And $83,000
Highest paying City	San Francisco, CA	New York, NY
Highest paying state	Connecticut	New York
Best paying company	Accenture	Amazon
Best paying industry	-	Health Care

Differences between collector lead and collections manager education

There are a few differences between a collector lead and a collections manager in terms of educational background:

	Collector Lead	Collections Manager
Most common degree	Bachelor's Degree, 39%	Bachelor's Degree, 51%
Most common major	Business	Business
Most common college	-	Stanford University

Collector lead vs collections manager demographics

Here are the differences between collector leads' and collections managers' demographics:

	Collector Lead	Collections Manager
Average age	46	46
Gender ratio	Male, 40.5% Female, 59.5%	Male, 50.8% Female, 49.2%
Race ratio	Black or African American, 11.7% Unknown, 4.1% Hispanic or Latino, 21.2% Asian, 3.7% White, 58.8% American Indian and Alaska Native, 0.5%	Black or African American, 8.0% Unknown, 4.1% Hispanic or Latino, 15.5% Asian, 7.3% White, 64.7% American Indian and Alaska Native, 0.3%
LGBT Percentage	8%	11%

Differences between collector lead and collections manager duties and responsibilities

Collector lead example responsibilities.

Manage re-billings for third party accounts including: commercial carriers, manage care, PPO, POS and HMO organizations.
Assist department manager in hiring & training new team members on company expectations & FDCPA laws.
Exceed monthly goals set by the client while following all guidelines with state laws and FDCPA.
Complete monthly A/R account reconciliations with minimal reconciling items requiring resolution.
Coordinate monthly inter-company A/R position with multiple operating units around the world.
Utilize communication and negotiation skills to understand the customer s specific situation and assist them with determining the best repayment solution.

Collections manager example responsibilities.

Achieve 182 FTE save, and annual net saving of $2.8MM
Manage Medicaid accounts in effort to receive payment from them.
Manage self pay and Medicaid pending collections throughout the southeast region.
Organize the managed care effort to ensure that patients are not accept from incorrect PPO's and HMO's.
Create and implement new quantitative process to achieve corporate DSO targets that determines monthly cash collection targets by business unit.
Achieve historical low of six percent in A/R over 30 days past due and reduction of DSO to 53 days.

Collector lead vs collections manager skills

Common collector lead skills

Customer Service, 16%
Collection Calls, 9%
Payment Arrangements, 7%
Credit Card Accounts, 6%
Delinquent Accounts, 6%
Outbound Calls, 5%

Common collections manager skills

Customer Service, 15%
Collection Management, 9%
Portfolio, 7%
FDCPA, 5%
Delinquent Accounts, 4%
Credit Card, 4%