Commercial collector vs debt collector

The differences between commercial 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 commercial collector and a debt collector. Additionally, a commercial collector has an average salary of $36,230, which is higher than the $33,865 average annual salary of a debt collector.

The top three skills for a commercial collector include delinquent accounts, customer service and FDCPA. The most important skills for a debt collector are customer service, outbound calls, and payment arrangements.

Commercial collector vs debt collector overview

	Commercial Collector	Debt Collector
Yearly salary	$36,230	$33,865
Hourly rate	$17.42	$16.28
Growth rate	-8%	-8%
Number of jobs	42,081	23,385
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 39%	High School Diploma, 34%
Average age	46	46
Years of experience	12	12

Commercial collector vs debt collector salary

Commercial collectors and debt collectors have different pay scales, as shown below.

	Commercial Collector	Debt Collector
Average salary	$36,230	$33,865
Salary range	Between $29,000 And $43,000	Between $26,000 And $43,000
Highest paying City	Hartford, CT	San Francisco, CA
Highest paying state	Connecticut	California
Best paying company	Capgemini	Mayor Ethan Berkowitz
Best paying industry	Finance	Construction

Differences between commercial collector and debt collector education

There are a few differences between a commercial collector and a debt collector in terms of educational background:

	Commercial Collector	Debt Collector
Most common degree	Bachelor's Degree, 39%	High School Diploma, 34%
Most common major	Business	Business
Most common college	-	-

Commercial collector vs debt collector demographics

Here are the differences between commercial collectors' and debt collectors' demographics:

	Commercial Collector	Debt Collector
Average age	46	46
Gender ratio	Male, 39.0% Female, 61.0%	Male, 30.7% Female, 69.3%
Race ratio	Black or African American, 13.4% Unknown, 4.0% Hispanic or Latino, 20.2% Asian, 3.5% White, 58.4% 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%

Differences between commercial collector and debt collector duties and responsibilities

Commercial collector example responsibilities.

Interpret manage care contracts and/or Medicare and Medicaid rules and regulations to ensure proper reimbursement/collection.
Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
Follow the guidelines set by FDCPA
Adhere to FDCPA, state, and federal commercial laws.
Escalate issues with internal business partners for quick resolution to ensure customer satisfaction to maintain health of portfolio against assign metrics.
Collect and record deposits and initiate and/or approve ACH distributions.

Debt collector example responsibilities.

Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
Work with FHA, obama programs at the time.
Educate customers on ways to get medical assistance such as Medicaid, Medicare etc.
Prevent foreclosure by putting people on repayment plans, submitting requests for modifications, or deed in lieu.
File Medicaid, Medicare and commercial claims consisting of PPO discounts, nurse practitioner discounts, humanitarian discounts, etc.
Maintain security and confidentiality of company and client information, following FDCPA regulations.

Commercial collector vs debt collector skills

Common commercial collector skills

Delinquent Accounts, 9%
Customer Service, 8%
FDCPA, 8%
Past Due Accounts, 6%
Collection Calls, 6%
Payment Arrangements, 5%

Common debt collector skills

Customer Service, 9%
Outbound Calls, 9%
Payment Arrangements, 8%
Delinquent Accounts, 8%
Credit Card Payments, 6%
FDCPA, 5%