Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
What is a credit and collection manager and how to become one
As credit and collections manager, you will probably not be well-liked. You will, however, be responsible for coordinating credit and collections procedures, policies, and operations. You will manage daily accounts receivables to make sure that the customer pays and complies. You may also need to follow up with issues or customer complaints. You will also need to assess credit risk in customers and suppliers and let the company's executives know who will be a good credit risk. You will also design and implement processes to improve cash flow and reduce receivables.
A credit and collection manager will monitor and make recommendations on opportunities for improvement in collection and credit procedures. You will manage staff in the day-to-day performance of credit and collection. You will also ensure that the company's accounts receivable goals are met. To be a credit and collection manager, you will need experience and education.
Typically, a credit and collections manager has a bachelor's degree and management experience of at least five years. You will also need to have extensive knowledge of the function of credit and collections. With all this knowledge, you will be able to command a salary of approximately $70,000 a year.
Avg. Salary $71,775
Avg. Salary $59,228
Growth rate 17%
Growth rate 0.3%
American Indian and Alaska Native 0.34%
Asian 7.32%
Black or African American 7.81%
Hispanic or Latino 15.06%
Unknown 4.12%
White 65.36%
Genderfemale 51.15%
male 48.85%
Age - 46American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 46Stress level is very high
7.1 - high
Complexity level is advanced
7 - challenging
Work life balance is fair
6.4 - fair
Credit and collection manager career paths
Key steps to become a credit and collection manager
Explore credit and collection manager education requirements
Start to develop specific credit and collection manager skills
Skills Percentages Credit Limits 6.67% Customer Service 6.64% DSO 5.28% Customer Accounts 4.82% Delinquent Accounts 4.36% Complete relevant credit and collection manager training and internships
Accountants spend an average of 1-3 months on post-employment, on-the-job training. New credit and collection managers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a credit and collection manager based on U.S. Bureau of Labor Statistics data and data from real credit and collection manager resumes.Research credit and collection manager duties and responsibilities
- Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
- Download and printout Medicare explanation of benefits.
- Develop understanding of Medicaid eligibility and Medicare accounts.
- Develop timely/accurate DSO and cash reporting and forecasting techniques.
Prepare your credit and collection manager resume
When your background is strong enough, you can start writing your credit and collection manager resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a credit and collection manager resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
Choose from 10+ customizable credit and collection manager resume templates
Build a professional credit and collection manager resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your credit and collection manager resume.
Apply for credit and collection manager jobs
Now it's time to start searching for a credit and collection manager job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How did you land your first credit and collection manager job
Are you a credit and collection manager?
Share your story for a free salary report.
Average credit and collection manager salary
The average credit and collection manager salary in the United States is $71,775 per year or $35 per hour. Credit and collection manager salaries range between $47,000 and $109,000 per year.
What am I worth?
How do credit and collection managers rate their job?
Updated January 8, 2025
