Installment agent vs bill collector

The differences between installment agents and bill collectors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both an installment agent and a bill collector. Additionally, a bill collector has an average salary of $35,585, which is higher than the $26,430 average annual salary of an installment agent.

The top three skills for an installment agent include customer service, windows and troubleshoot. The most important skills for a bill collector are patients, customer service, and medicaid.

Installment agent vs bill collector overview

	Installment Agent	Bill Collector
Yearly salary	$26,430	$35,585
Hourly rate	$12.71	$17.11
Growth rate	-8%	-8%
Number of jobs	26,460	23,746
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	High School Diploma, 27%
Average age	46	46
Years of experience	12	12

Installment agent vs bill collector salary

Installment agents and bill collectors have different pay scales, as shown below.

	Installment Agent	Bill Collector
Average salary	$26,430	$35,585
Salary range	Between $10,000 And $68,000	Between $30,000 And $40,000
Highest paying City	-	Pittsfield, MA
Highest paying state	-	Virginia
Best paying company	-	Retina Group Of Washington
Best paying industry	-	Finance

Differences between installment agent and bill collector education

There are a few differences between an installment agent and a bill collector in terms of educational background:

	Installment Agent	Bill Collector
Most common degree	Bachelor's Degree, 41%	High School Diploma, 27%
Most common major	Business	Business
Most common college	-	-

Installment agent vs bill collector demographics

Here are the differences between installment agents' and bill collectors' demographics:

	Installment Agent	Bill Collector
Average age	46	46
Gender ratio	Male, 58.8% Female, 41.2%	Male, 20.0% Female, 80.0%
Race ratio	Black or African American, 14.1% Unknown, 4.3% Hispanic or Latino, 18.6% Asian, 4.0% White, 58.5% American Indian and Alaska Native, 0.5%	Black or African American, 11.8% Unknown, 4.0% Hispanic or Latino, 24.0% Asian, 3.5% White, 56.3% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between installment agent and bill collector duties and responsibilities

Installment agent example responsibilities.

Answer eligibility and coverage questions from insurance agents pertaining to Medicare advantage plans and prescription drug plans.
Book reservations verify availability and reconfirm accommodations.
Upgrade, troubleshot, repair, and setup computers in store.
Identify & troubleshot in-home network issues, virus/spyware removal, perform PC installations & repairs.
Follow and maintain QA guidelines while documenting the customers questions with the appropriate escalations need.
Handle supervisor escalations and agent QA monitoring.

Bill collector example responsibilities.

Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
Follow HIPPA and FDCPA guidelines to ensure legal collection practices are utilized.
Bill and collect all skil Medicare, and other insurance claims which include HMO claims denials.
Provide patients with information and resources essential to their financial needs including payment arrangements and account reminders.
Take payments by ACH and debit cards.
Collect A/R payments from medical insurance companies and customers.

Installment agent vs bill collector skills

Common installment agent skills

Customer Service, 33%
Windows, 24%
Troubleshoot, 14%
Inbound Calls, 10%
Outbound Calls, 10%
Linux, 9%

Common bill collector skills

Patients, 19%
Customer Service, 7%
Medicaid, 6%
Medical Billing, 4%
Patient Accounts, 4%
Appeals, 4%