Installment agent vs debt collector

The differences between installment agents and debt 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 debt collector. Additionally, a debt collector has an average salary of $33,865, 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 debt collector are customer service, outbound calls, and payment arrangements.

Installment agent vs debt collector overview

	Installment Agent	Debt Collector
Yearly salary	$26,430	$33,865
Hourly rate	$12.71	$16.28
Growth rate	-8%	-8%
Number of jobs	26,460	23,385
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	High School Diploma, 34%
Average age	46	46
Years of experience	12	12

Installment agent vs debt collector salary

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

	Installment Agent	Debt Collector
Average salary	$26,430	$33,865
Salary range	Between $10,000 And $68,000	Between $26,000 And $43,000
Highest paying City	-	San Francisco, CA
Highest paying state	-	California
Best paying company	-	Mayor Ethan Berkowitz
Best paying industry	-	Construction

Differences between installment agent and debt collector education

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

	Installment Agent	Debt Collector
Most common degree	Bachelor's Degree, 41%	High School Diploma, 34%
Most common major	Business	Business
Most common college	-	-

Installment agent vs debt collector demographics

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

	Installment Agent	Debt Collector
Average age	46	46
Gender ratio	Male, 58.8% Female, 41.2%	Male, 30.7% Female, 69.3%
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, 12.2% Unknown, 4.0% Hispanic or Latino, 20.0% Asian, 3.4% White, 59.9% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between installment agent and debt 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.

Debt collector example responsibilities.

Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
Work with FHA, obama programs at the time.
Educate customers on ways to get medical assistance such as Medicaid, Medicare etc.
Prevent foreclosure by putting people on repayment plans, submitting requests for modifications, or deed in lieu.
File Medicaid, Medicare and commercial claims consisting of PPO discounts, nurse practitioner discounts, humanitarian discounts, etc.
Maintain security and confidentiality of company and client information, following FDCPA regulations.

Installment agent vs debt collector skills

Common installment agent skills

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

Common debt collector skills

Customer Service, 9%
Outbound Calls, 9%
Payment Arrangements, 8%
Delinquent Accounts, 8%
Credit Card Payments, 6%
FDCPA, 5%