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The differences between credit and collections analysts and account specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a credit and collections analyst and an account specialist. Additionally, a credit and collections analyst has an average salary of $49,262, which is higher than the $42,586 average annual salary of an account specialist.
The top three skills for a credit and collections analyst include customer service, credit limits and past due accounts. The most important skills for an account specialist are customer service, patients, and account management.
| Credit And Collections Analyst | Account Specialist | |
| Yearly salary | $49,262 | $42,586 |
| Hourly rate | $23.68 | $20.47 |
| Growth rate | -8% | -8% |
| Number of jobs | 18,105 | 116,010 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 54% |
| Average age | 46 | 46 |
| Years of experience | 12 | 12 |
A credit and collections analyst is responsible for evaluating clients' account statements and financial transactions, analyzing their credit scores, and creating payment plans for outstanding debts. Credit and collections analysts assist in handling account discrepancies and financial disputes, reaching out to financial institutions and clients to collect documents and necessary data for resolution processes. They also update the clients' information on the database, analyze the terms of service of contracts, and respond to the customers' inquiries and concerns regarding their account status.
An account specialist is responsible for reaching out to customers or potential clients through calls, emails, and other forms of correspondence to secure sales and strengthen business relations. An account specialist may also perform other tasks such as arranging appointment schedules with clients, providing price quotes and responding to further inquiries, process orders, generating sales leads, and handling complaints and resolving issues. Furthermore, an account specialist may also be involved in developing strategies, finding new opportunities, producing and completing necessary documents, and preparing reports, all in adherence to the company's policies and regulations.
Credit and collections analysts and account specialists have different pay scales, as shown below.
| Credit And Collections Analyst | Account Specialist | |
| Average salary | $49,262 | $42,586 |
| Salary range | Between $35,000 And $69,000 | Between $28,000 And $62,000 |
| Highest paying City | Bridgewater, NJ | Washington, DC |
| Highest paying state | Connecticut | Virginia |
| Best paying company | Vishay | Microsoft |
| Best paying industry | Finance | Finance |
There are a few differences between a credit and collections analyst and an account specialist in terms of educational background:
| Credit And Collections Analyst | Account Specialist | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 54% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between credit and collections analysts' and account specialists' demographics:
| Credit And Collections Analyst | Account Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 30.0% Female, 70.0% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 12.0% Unknown, 4.0% Hispanic or Latino, 20.5% Asian, 3.6% White, 59.4% American Indian and Alaska Native, 0.5% | Black or African American, 13.2% Unknown, 4.1% Hispanic or Latino, 17.8% Asian, 3.7% White, 60.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |