How to hire a credit and collection manager

How to hire a credit and collection manager, step by step

Here's a step-by-step credit and collection manager hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a credit and collection manager job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new credit and collection manager
• Step 8: Go through the hiring process checklist

What does a credit and collection manager do?

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1. Identify your hiring needs

   First, determine the employments status of the credit and collection manager you need to hire. Certain credit and collection manager roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   Hiring the perfect credit and collection manager also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.

   This list shows salaries for various types of credit and collection managers.

   Type of Credit And Collection Manager	Description	Hourly rate
   Credit And Collection Manager	Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.	$22-52
   Manager/Finance Accounting	A manager of finance accounting's role is to oversee the financial activities in a company or organization. Their responsibilities revolve around coordinating with other departments to gather financial data, analyze the revenues and expenditures, and develop written reports and presentations... Show more	$31-61
   Tax Manager	A Tax Manager is responsible for managing tax reporting and compliance within an organization. They provide innovative tax planning and prepare state and federal tax returns for companies.	$33-62

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Credit Limits
   • Customer Service
   • DSO
   • Customer Accounts
   • Delinquent Accounts
   • Past Due Accounts
   • Accounts Receivables
   • Cash Application
   • Credit Risk
   • Credit Policies
   • Collection Procedures
   • Credit Card Payments
   • Credit Worthiness
   • Credit Lines

   Check all skills

   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.

   More credit and collection manager duties

3. Make a budget

   Including a salary range in the credit and collection manager job description is a good way to get more applicants. A credit and collection manager salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.

   For example, the average salary for a credit and collection manager in Florida may be lower than in California, and an entry-level engineer typically earns less than a senior-level credit and collection manager. Additionally, a credit and collection manager with lots of experience in the field may command a higher salary as a result.

   Average credit and collection manager salary

   $71,775yearly

   $34.51 hourly rate

   ---

   Entry-level credit and collection manager salary

   $47,000 yearly salary

   Updated January 23, 2026

   Average credit and collection manager salary by state

   Rank	State	Avg. salary	Hourly rate
   1	California	$113,757	$55
   2	New Jersey	$78,557	$38
   3	Delaware	$75,252	$36
   4	Connecticut	$75,102	$36
   5	Massachusetts	$74,930	$36
   6	Ohio	$73,196	$35
   7	Pennsylvania	$72,508	$35
   8	Michigan	$72,447	$35
   9	Texas	$69,175	$33
   10	Illinois	$68,397	$33
   11	New Hampshire	$67,996	$33
   12	Tennessee	$67,569	$32
   13	Indiana	$67,459	$32
   14	Wisconsin	$66,623	$32
   15	North Carolina	$66,089	$32
   16	South Carolina	$65,261	$31
   17	Missouri	$64,663	$31
   18	Louisiana	$63,437	$31
   19	Colorado	$62,584	$30
   20	Georgia	$61,032	$29

   Average credit and collection manager salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Colfax Corporation	$106,603	$51.25	2
   2	Stewart & Stevenson	$100,593	$48.36
   3	Bausch + Lomb	$97,595	$46.92
   4	Equinix	$94,561	$45.46
   5	Elo TouchSystems	$94,335	$45.35
   6	Oracle	$87,371	$42.01	44
   7	TeleTracking	$82,749	$39.78
   8	Atlas Copco Drilling Solutions LLC	$82,667	$39.74
   9	Thermo Fisher Scientific	$81,202	$39.04	7
   10	Eversource Energy	$80,077	$38.50
   11	Bank of America	$75,028	$36.07	83
   12	Kansas City Southern	$73,607	$35.39
   13	Randstad North America, Inc.	$70,803	$34.04	2
   14	Yokohama Off-Highway Tires America	$69,751	$33.53
   15	Sodexo Management, Inc.	$68,276	$32.83	1
   16	Kelly Services	$68,104	$32.74	2
   17	Truck Centers	$67,334	$32.37
   18	SunSource	$67,209	$32.31	11
   19	Club Car	$66,305	$31.88
   20	CKS Packaging	$66,177	$31.82

4. Writing a credit and collection manager job description

   A good credit and collection manager job description should include a few things:

   • Summary of the role
   • List of responsibilities
   • Required skills and experience

   Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a credit and collection manager job description:

   Credit and collection manager job description example

   Morgan Hunter is partnering with a leading Kansas City-based organization to identify new leadership in Credit & Collections.
   Credit & Collections Manager
   
   Establish new customer credit, review and update credit lines to mitigate overall organization risk. Manage overall A/R performance for the entire portfolio of customer accounts. Supervise deduction function to maximize customer recoveries, optimize process efficiencies and correctly categorize customer deductions. Reporting of performance measures including DSO, past due balances, aging invoices and customer risk assessments. Minimize past due exposure, ensure adherence to payment terms while limiting bad debt, maximizing sales and building customer relationships. Partner with company personnel to resolve billing disputes and customer issues adversely impacting timely collections. Manage, lead, motivate and develop team members through effective leadership, coaching and training, including goal setting and defining metrics. Review and approve non-chargeback credits, returns, pricing, shortages and refund checks. Execute decisions for problem solving, pricing discrepancies, return goods, credit limitations, credit hold shipments, and negotiate payment settlements. Monitor the releases, cancellation, and pending orders that have been held due to credit limits and/or delinquency status. Manage distressed debtor accounts, define payment schedules and file bankruptcy paperwork where necessary. Manage business relationships with outside collection agencies and credit information providers. Analyze financial statements, as required, to support credit determinations.
   
   Experience:
   Bachelor’ s degree in Accounting, Finance or Business required, MBA preferred 5+ years of experience in finance related roles CBA, CBF, CCE, or CCRA certification a plus Must be a strong change agent and problem solver Experience in financial reporting/planning/analysis tools and ERP systems (SAP, JDE) Strong interpersonal skills and ability to partner with Sales and Customer Service teams. Demonstrated track record of cross functional business engagement skills in a matrix organization. Advanced computer skills in MS Office, specifically Excel
   
   About Morgan Hunter
   
   Since 1986, Morgan Hunter has served Kansas City-area employers to help them meet a range of hiring needs, from temporary staffing to direct-hire placements. Thoughtful and thorough in our approach, we’ re also responsive and efficient, creating a tailored hiring experience for both employer and job seeker – because everyone deserves to find the right fit.
   
   MH123

   Copy this example

   

5. Post your job

   There are a few common ways to find credit and collection managers for your business:

   • Promoting internally or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to meet candidates with the right educational background.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to recruit passive job-seekers.

   Post your job online:

   • Post your credit and collection manager job on Zippia to find and recruit credit and collection manager candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   Your first interview with credit and collection manager candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.

   You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new credit and collection manager

   Once you've selected the best credit and collection manager candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.

   It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.

   Once that's done, you can draft an onboarding schedule for the new credit and collection manager. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire a credit and collection manager?