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The differences between debt collectors 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 debt collector and an account specialist. Additionally, an account specialist has an average salary of $42,586, which is higher than the $33,865 average annual salary of a debt collector.
The top three skills for a debt collector include customer service, outbound calls and payment arrangements. The most important skills for an account specialist are customer service, patients, and account management.
| Debt Collector | Account Specialist | |
| Yearly salary | $33,865 | $42,586 |
| Hourly rate | $16.28 | $20.47 |
| Growth rate | -8% | -8% |
| Number of jobs | 23,385 | 116,010 |
| Job satisfaction | - | - |
| Most common degree | High School Diploma, 34% | Bachelor's Degree, 54% |
| Average age | 46 | 46 |
| Years of experience | 12 | 12 |
Debt collectors are also known as collection agencies and are responsible for recovering past due debts. Most of them are hired by companies to collect debt either for a fee or a percentage of the total amount recovered. Also, some debt collectors buy delinquent debts at a discount and seek to collect the debt's full amount. They have many strategies to collect debts, including calling debtor's phones, sending letters, and even visiting them at their home. However, if debtors fail to pay their due, debt collectors can either update the debtor's credit report or sue them over debt. Once sued and debtors ignore court hearings and lose by default, results could either be garnishment on debtor'debtors' wages or levies on their bank.
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.
Debt collectors and account specialists have different pay scales, as shown below.
| Debt Collector | Account Specialist | |
| Average salary | $33,865 | $42,586 |
| Salary range | Between $26,000 And $43,000 | Between $28,000 And $62,000 |
| Highest paying City | San Francisco, CA | Washington, DC |
| Highest paying state | California | Virginia |
| Best paying company | Mayor Ethan Berkowitz | Microsoft |
| Best paying industry | Construction | Finance |
There are a few differences between a debt collector and an account specialist in terms of educational background:
| Debt Collector | Account Specialist | |
| Most common degree | High School Diploma, 34% | Bachelor's Degree, 54% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between debt collectors' and account specialists' demographics:
| Debt Collector | Account Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 30.7% Female, 69.3% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 12.2% Unknown, 4.0% Hispanic or Latino, 20.0% Asian, 3.4% White, 59.9% 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% |