Installment agent vs collections/accounts receivable

The differences between installment agents and collections/accounts receivables 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 collections/accounts receivable. Additionally, a collections/accounts receivable has an average salary of $38,949, 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 collections/accounts receivable are customer service, patients, and delinquent accounts.

Installment agent vs collections/accounts receivable overview

	Installment Agent	Collections/Accounts Receivable
Yearly salary	$26,430	$38,949
Hourly rate	$12.71	$18.73
Growth rate	-8%	-8%
Number of jobs	26,460	30,523
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 40%
Average age	46	46
Years of experience	12	12

Installment agent vs collections/accounts receivable salary

Installment agents and collections/accounts receivables have different pay scales, as shown below.

	Installment Agent	Collections/Accounts Receivable
Average salary	$26,430	$38,949
Salary range	Between $10,000 And $68,000	Between $30,000 And $49,000
Highest paying City	-	Boston, MA
Highest paying state	-	Connecticut
Best paying company	-	Apollo Global Management
Best paying industry	-	Finance

Differences between installment agent and collections/accounts receivable education

There are a few differences between an installment agent and a collections/accounts receivable in terms of educational background:

	Installment Agent	Collections/Accounts Receivable
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 40%
Most common major	Business	Business
Most common college	-	-

Installment agent vs collections/accounts receivable demographics

Here are the differences between installment agents' and collections/accounts receivables' demographics:

	Installment Agent	Collections/Accounts Receivable
Average age	46	46
Gender ratio	Male, 58.8% Female, 41.2%	Male, 25.3% Female, 74.7%
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, 12.0% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.4% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between installment agent and collections/accounts receivable 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.

Collections/accounts receivable example responsibilities.

Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
Work accounts receivable for Medicaid verification and payments.
Work remittance advice from Medicaid ensuring accuracy of payments.
Research and obtain extensive knowledge of FDCPA debt recovery laws and assist in recovering commercial debt from organizations.
Communicate effectively with patients, physicians, hospital staff, and insurance representatives to ensure accuracy in claims processing.
Review claims to determine if process correctly and if necessary, direct patients to contact insurance companies regarding additional benefit questions.

Installment agent vs collections/accounts receivable skills

Common installment agent skills

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

Common collections/accounts receivable skills

Customer Service, 21%
Patients, 6%
Delinquent Accounts, 5%
Credit Card Payments, 5%
Past Due Accounts, 5%
Customer Accounts, 5%

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Office and Administrative Industry
Installment Agent
Installment Agent vs Collections/Accounts Receivable

Updated January 8, 2025

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