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Installment agent vs collector

The differences between installment agents and 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 collector. Additionally, a collector has an average salary of $34,872, 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 collector are patients, customer service, and payment arrangements.

Installment agent vs collector overview

Installment AgentCollector
Yearly salary$26,430$34,872
Hourly rate$12.71$16.77
Growth rate-8%-8%
Number of jobs26,46023,948
Job satisfaction--
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 31%
Average age4646
Years of experience1212

Installment agent vs collector salary

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

Installment AgentCollector
Average salary$26,430$34,872
Salary rangeBetween $10,000 And $68,000Between $27,000 And $44,000
Highest paying City-Los Angeles, CA
Highest paying state-Alaska
Best paying company-Uline
Best paying industry-Finance

Differences between installment agent and collector education

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

Installment AgentCollector
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 31%
Most common majorBusinessBusiness
Most common college--

Installment agent vs collector demographics

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

Installment AgentCollector
Average age4646
Gender ratioMale, 58.8% Female, 41.2%Male, 36.0% Female, 64.0%
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, 12.1% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.5% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between installment agent and 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.
  • Show more

Collector example responsibilities.

  • Manage patient focuse reports, collection modules, provider/facility A/R, collections, patient discharge letters.
  • Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
  • Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
  • Provide customer service via telephone and correspondence for patients and authorize representatives regarding outstanding patient accounts in accordance with facility protocol.
  • Verify and run eligibility on the following insurance, Medi-Cal, Medi-Cal HMO, Medicare, Medicare HMO.
  • Provide excellent customer service while following HIPPA confidentiality laws.
  • Show more

Installment agent vs collector skills

Common installment agent skills
  • Customer Service, 33%
  • Windows, 24%
  • Troubleshoot, 14%
  • Inbound Calls, 10%
  • Outbound Calls, 10%
  • Linux, 9%
Common collector skills
  • Patients, 14%
  • Customer Service, 10%
  • Payment Arrangements, 10%
  • Excellent Interpersonal, 9%
  • Delinquent Accounts, 8%
  • Student Loans, 5%

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