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The differences between credit and collection managers and bank 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 a bank manager. Additionally, a bank manager has an average salary of $96,910, 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 a bank manager are bank products, financial services, and business development.
| Credit And Collection Manager | Bank Manager | |
| Yearly salary | $71,775 | $96,910 |
| Hourly rate | $34.51 | $46.59 |
| Growth rate | 17% | 17% |
| Number of jobs | 38,683 | 66,136 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 64% |
| 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.
A bank manager is responsible for supervising banking operations and monitoring staff performance in providing the best customer service for clients with their banking needs and financial transactions. Bank managers assist the staff with the complexities of processes, train new hires, and strategize the development of services that would contribute to the bank's success. They also conduct fund audits and create accounts receivable reports at the end of the day. A bank manager responds to clients' inquiries and concerns, resolve complaints, and manage account disputes.
Credit and collection managers and bank managers have different pay scales, as shown below.
| Credit And Collection Manager | Bank Manager | |
| Average salary | $71,775 | $96,910 |
| Salary range | Between $47,000 And $109,000 | Between $65,000 And $142,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Colfax Corporation | Accenture |
| Best paying industry | Technology | Finance |
There are a few differences between a credit and collection manager and a bank manager in terms of educational background:
| Credit And Collection Manager | Bank Manager | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit and collection managers' and bank managers' demographics:
| Credit And Collection Manager | Bank Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 48.8% Female, 51.2% | Male, 48.9% Female, 51.1% |
| 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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.3% Asian, 10.0% White, 63.7% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |