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The differences between credit and collection managers and cash 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 cash manager. Additionally, a cash manager has an average salary of $93,363, 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 cash manager are customer service, cash management, and treasury.
| Credit And Collection Manager | Cash Manager | |
| Yearly salary | $71,775 | $93,363 |
| Hourly rate | $34.51 | $44.89 |
| Growth rate | 17% | 17% |
| Number of jobs | 38,683 | 60,517 |
| 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 cash manager is responsible for monitoring cash flow, analyzing financial transactions, and allocating adequate budget and resources for every department's operations. Cash managers conduct data and statistical analysis to determine the company's expenses and financial loss and strategize techniques in minimizing those risks. They also help senior management in identifying business opportunities that would generate more revenue resources and increase profits for the business. A cash manager handles billing disputes, resolves account discrepancies, and submits accurate financial reports.
Credit and collection managers and cash managers have different pay scales, as shown below.
| Credit And Collection Manager | Cash Manager | |
| Average salary | $71,775 | $93,363 |
| Salary range | Between $47,000 And $109,000 | Between $66,000 And $130,000 |
| Highest paying City | San Francisco, CA | Redding, CA |
| Highest paying state | California | California |
| Best paying company | Colfax Corporation | PVH |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a credit and collection manager and a cash manager in terms of educational background:
| Credit And Collection Manager | Cash 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 cash managers' demographics:
| Credit And Collection Manager | Cash Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 48.8% Female, 51.2% | Male, 38.2% Female, 61.8% |
| 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, 8.0% Unknown, 4.1% Hispanic or Latino, 15.5% Asian, 8.0% White, 64.1% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |