Post job

Installment agent vs collections specialist

The differences between installment agents and collections specialists 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 specialist. Additionally, a collections specialist has an average salary of $35,164, 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 specialist are customer service, patients, and customer accounts.

Installment agent vs collections specialist overview

Installment AgentCollections Specialist
Yearly salary$26,430$35,164
Hourly rate$12.71$16.91
Growth rate-8%-8%
Number of jobs26,46040,277
Job satisfaction--
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 34%
Average age4646
Years of experience1212

Installment agent vs collections specialist salary

Installment agents and collections specialists have different pay scales, as shown below.

Installment AgentCollections Specialist
Average salary$26,430$35,164
Salary rangeBetween $10,000 And $68,000Between $27,000 And $45,000
Highest paying City-Boston, MA
Highest paying state-Connecticut
Best paying company-Kent Daniels & Associates
Best paying industry-Finance

Differences between installment agent and collections specialist education

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

Installment AgentCollections Specialist
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 34%
Most common majorBusinessBusiness
Most common college--

Installment agent vs collections specialist demographics

Here are the differences between installment agents' and collections specialists' demographics:

Installment AgentCollections Specialist
Average age4646
Gender ratioMale, 58.8% Female, 41.2%Male, 30.5% Female, 69.5%
Race ratioBlack 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, 12.2% Unknown, 4.1% Hispanic or Latino, 18.5% Asian, 3.7% White, 61.0% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between installment agent and collections specialist 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.
  • Show more

Collections specialist example responsibilities.

  • Manage university A/R processes and enforce tuition payment policy.
  • Manage accounts for healthcare clients, review detailed patient information for payment resolution while abiding HIPPA privacy and security regulations.
  • Review denied Medicare and Maine Medicaid insurance claims for accuracy.
  • Analyze hospital insurance claims of individual patients for errors and contact major insurance carriers for claims dispute resolution.
  • Analyze accounts for patients ineligible for private insurance, Medicare or Medicaid and indicating inability to pay balance.
  • Possess effective persuasion and negotiation skills, excellent interpersonal and communications skills with the ability to deliver quality customer service.
  • Show more

Installment agent vs collections specialist skills

Common installment agent skills
  • Customer Service, 33%
  • Windows, 24%
  • Troubleshoot, 14%
  • Inbound Calls, 10%
  • Outbound Calls, 10%
  • Linux, 9%
Common collections specialist skills
  • Customer Service, 23%
  • Patients, 8%
  • Customer Accounts, 6%
  • Payment Arrangements, 5%
  • Delinquent Accounts, 4%
  • Phone Calls, 4%

Browse office and administrative jobs