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The differences between credit and collection managers and asset managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a credit and collection manager and an asset manager. Additionally, an asset manager has an average salary of $85,814, which is higher than the $71,775 average annual salary of a credit and collection manager.
The top three skills for a credit and collection manager include credit limits, customer service and DSO. The most important skills for an asset manager are asset management, financial statements, and property management.
| Credit And Collection Manager | Asset Manager | |
| Yearly salary | $71,775 | $85,814 |
| Hourly rate | $34.51 | $41.26 |
| Growth rate | 17% | 17% |
| Number of jobs | 38,683 | 64,732 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 68% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A credit and collection manager is responsible for evaluating credit services and supervising the credit and collection team in reaching out to clients with outstanding debts and credit applications. Credit and collection managers oversee the cash flow systems and identify opportunities to minimize excessive loss and resolve credit disputes. They also determine a customer's eligibility for credit options by analyzing documents and financial status. A credit collection manager must have excellent communication and analytical skills to process receivables and perform credit reconciliations accurately and efficiently.
An asset manager is responsible for advising clients with their investment preferences and financial goals based on their assets' quantity and value. Asset managers regularly meet with their clients regarding their asset management's progress, recommending more investment options and considering the clients' needs. They manage financial portfolios and prepare stock market reports and forecasts as needed. An asset manager must have a broad knowledge of the financial industry and investment processes, identifying profit opportunities for long-term investment objectives.
Credit and collection managers and asset managers have different pay scales, as shown below.
| Credit And Collection Manager | Asset Manager | |
| Average salary | $71,775 | $85,814 |
| Salary range | Between $47,000 And $109,000 | Between $59,000 And $123,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | California | New York |
| Best paying company | Colfax Corporation | Deutsche Bank |
| Best paying industry | Technology | Finance |
There are a few differences between a credit and collection manager and an asset manager in terms of educational background:
| Credit And Collection Manager | Asset Manager | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between credit and collection managers' and asset managers' demographics:
| Credit And Collection Manager | Asset Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 48.8% Female, 51.2% | Male, 64.3% Female, 35.7% |
| Race ratio | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.1% Asian, 7.3% White, 65.4% American Indian and Alaska Native, 0.3% | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.9% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |