Credit and collections analyst vs credit representative

The differences between credit and collections analysts and credit representatives can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become a credit and collections analyst, becoming a credit representative takes usually requires 1-2 years. Additionally, a credit and collections analyst has an average salary of $49,262, which is higher than the $39,268 average annual salary of a credit representative.

The top three skills for a credit and collections analyst include customer service, credit limits and past due accounts. The most important skills for a credit representative are customer service, customer accounts, and patients.

Credit and collections analyst vs credit representative overview

	Credit And Collections Analyst	Credit Representative
Yearly salary	$49,262	$39,268
Hourly rate	$23.68	$18.88
Growth rate	-8%	-8%
Number of jobs	18,105	73,520
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 52%	Bachelor's Degree, 47%
Average age	46	39
Years of experience	12	2

What does a credit and collections analyst do?

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.

What does a credit representative do?

Credit representatives are professionals who analyze the credit data and the financial statements of firms or individuals for the determination of the risk in lending money or extending credit. The representatives are tasked to prepare reports with credit information used in decision making. They manage credit files and process credit reports from different credit reporting sources. They also mentor and coach credit representatives newly hired in corporate procedures and policies. Also, they expand collection procedures and policies to lessen DSO parameter risk.

Credit and collections analyst vs credit representative salary

Credit and collections analysts and credit representatives have different pay scales, as shown below.

	Credit And Collections Analyst	Credit Representative
Average salary	$49,262	$39,268
Salary range	Between $35,000 And $69,000	Between $28,000 And $54,000
Highest paying City	Bridgewater, NJ	White Plains, NY
Highest paying state	Connecticut	New York
Best paying company	Vishay	Systemax
Best paying industry	Finance	Construction

Differences between credit and collections analyst and credit representative education

There are a few differences between a credit and collections analyst and a credit representative in terms of educational background:

	Credit And Collections Analyst	Credit Representative
Most common degree	Bachelor's Degree, 52%	Bachelor's Degree, 47%
Most common major	Business	Business
Most common college	-	University of Pennsylvania

Credit and collections analyst vs credit representative demographics

Here are the differences between credit and collections analysts' and credit representatives' demographics:

	Credit And Collections Analyst	Credit Representative
Average age	46	39
Gender ratio	Male, 30.0% Female, 70.0%	Male, 29.5% Female, 70.5%
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, 8.3% Unknown, 2.7% Hispanic or Latino, 10.0% Asian, 7.8% White, 71.0% American Indian and Alaska Native, 0.3%
LGBT Percentage	8%	11%

Differences between credit and collections analyst and credit representative duties and responsibilities

Credit and collections analyst example responsibilities.

Represent and lead the collections' team during executive management weekly conference calls providing updates on the delinquent A/R reports.
Identify and submit financial adjustments using SOX controls and GAAP accounting principles, increasing monthly AR collection.
Develop and maintain detailed spreadsheets on all UCC activity for the branch for tracking purposes and follow-up.
Establish the UCC filing template and liaise with agent bank to get UCC filing in due time.
Oversee the DSO level and negotiate account settlements, payment plans, and attend small claims court for small businesses.
Attend regular credit meetings with order management, sales, treasury, and revenue recognition groups to resolve business issues.

Credit representative example responsibilities.

Manage portfolio utilizing AS400 and GetPaid systems.
Manage all credit files and process credit reports from various credit reporting sources including TRW and Dunn & Bradstreet.
Manage customer relations with internal personnel, group administrators, brokers and members as related to Medicare insurance.
Apply customer credit card and ACH payments.
Perform the posting of checks refunds and credit cards into the AS400 database.
Collect invoices through wire payment, ACH payments, and overnight mail options.

Credit and collections analyst vs credit representative skills

Common credit and collections analyst skills

Customer Service, 18%
Credit Limits, 5%
Past Due Accounts, 5%
Delinquent Accounts, 4%
Financial Statements, 4%
Credit Card Payments, 3%

Common credit representative skills

Customer Service, 22%
Customer Accounts, 6%
Patients, 5%
Credit Card Payments, 4%
Credit Balances, 4%
Payment Arrangements, 4%

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Credit And Collections Analyst
Credit And Collections Analyst vs Credit Representative

Updated January 8, 2025

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