Credit and collection manager vs collections manager

The differences between credit and collection managers and collections 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 collections manager. Additionally, a credit and collection manager has an average salary of $71,775, which is higher than the $59,529 average annual salary of a collections manager.

The top three skills for a credit and collection manager include credit limits, customer service and DSO. The most important skills for a collections manager are customer service, collection management, and portfolio.

Credit and collection manager vs collections manager overview

	Credit And Collection Manager	Collections Manager
Yearly salary	$71,775	$59,529
Hourly rate	$34.51	$28.62
Growth rate	17%	17%
Number of jobs	38,683	44,553
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 62%	Bachelor's Degree, 51%
Average age	46	46
Years of experience	8	8

What does a credit and collection manager do?

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.

What does a collections manager do?

A collections manager is an individual who manages a staff of collectors whose job is to contact companies and individuals for the late payments on the products and services they have received. Collections managers oversee a company's process of retrieving money owed to them by assigning collectors to collect the money. They are required to handle customer complaints and must negotiate with customers about payment arrangements to ensure they are being paid. They also provide reports on the collection department's progress, statistics, and data analysis.

Credit and collection manager vs collections manager salary

Credit and collection managers and collections managers have different pay scales, as shown below.

	Credit And Collection Manager	Collections Manager
Average salary	$71,775	$59,529
Salary range	Between $47,000 And $109,000	Between $42,000 And $83,000
Highest paying City	San Francisco, CA	New York, NY
Highest paying state	California	New York
Best paying company	Colfax Corporation	Amazon
Best paying industry	Technology	Health Care

Differences between credit and collection manager and collections manager education

There are a few differences between a credit and collection manager and a collections manager in terms of educational background:

	Credit And Collection Manager	Collections Manager
Most common degree	Bachelor's Degree, 62%	Bachelor's Degree, 51%
Most common major	Business	Business
Most common college	University of Pennsylvania	Stanford University

Credit and collection manager vs collections manager demographics

Here are the differences between credit and collection managers' and collections managers' demographics:

	Credit And Collection Manager	Collections Manager
Average age	46	46
Gender ratio	Male, 48.8% Female, 51.2%	Male, 50.8% Female, 49.2%
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, 7.3% White, 64.7% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	11%

Differences between credit and collection manager and collections manager duties and responsibilities

Credit and collection manager example 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.
Perform monthly DSO reports and information supplements for upper management.
Integrate experimental ISR technologies to maximize intelligence collection and reduce work load on analysts and high demand low density collection assets.

Collections manager example responsibilities.

Achieve 182 FTE save, and annual net saving of $2.8MM
Manage Medicaid accounts in effort to receive payment from them.
Manage self pay and Medicaid pending collections throughout the southeast region.
Organize the managed care effort to ensure that patients are not accept from incorrect PPO's and HMO's.
Create and implement new quantitative process to achieve corporate DSO targets that determines monthly cash collection targets by business unit.
Achieve historical low of six percent in A/R over 30 days past due and reduction of DSO to 53 days.

Credit and collection manager vs collections manager skills

Common credit and collection manager skills

Credit Limits, 7%
Customer Service, 7%
DSO, 5%
Customer Accounts, 5%
Delinquent Accounts, 4%
Past Due Accounts, 4%

Common collections manager skills

Customer Service, 15%
Collection Management, 9%
Portfolio, 7%
FDCPA, 5%
Delinquent Accounts, 4%
Credit Card, 4%

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Credit And Collection Manager
Credit And Collection Manager vs Collections Manager

Updated January 8, 2025

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