Installment agent vs senior collector

The differences between installment agents and senior 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 senior collector. Additionally, a senior collector has an average salary of $85,626, 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 senior collector are customer service, payment arrangements, and past due accounts.

Installment agent vs senior collector overview

	Installment Agent	Senior Collector
Yearly salary	$26,430	$85,626
Hourly rate	$12.71	$41.17
Growth rate	-8%	-8%
Number of jobs	26,460	5,614
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 41%
Average age	46	46
Years of experience	12	12

Installment agent vs senior collector salary

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

	Installment Agent	Senior Collector
Average salary	$26,430	$85,626
Salary range	Between $10,000 And $68,000	Between $50,000 And $145,000
Highest paying City	-	-
Highest paying state	-	-
Best paying company	-	-
Best paying industry	-	-

Differences between installment agent and senior collector education

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

	Installment Agent	Senior Collector
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 41%
Most common major	Business	Business
Most common college	-	-

Installment agent vs senior collector demographics

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

	Installment Agent	Senior Collector
Average age	46	46
Gender ratio	Male, 58.8% Female, 41.2%	Male, 40.1% Female, 59.9%
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, 13.4% Unknown, 4.1% Hispanic or Latino, 20.9% Asian, 3.7% White, 57.4% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between installment agent and senior 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.

Senior collector example responsibilities.

Accomplish the above in compliance with HIPAA regulations.
Manage re-billings for third party accounts including: commercial carriers, manage care, PPO, POS and HMO organizations.
Record CPT codes and ICD-9 codes on billing forms.
Develop and pursue collection strategies to reduce the DSO.
Process credit cards, purchase cards, ACH payments.
Used the Medicaid web portal to check claim status and eligibility.

Installment agent vs senior collector skills

Common installment agent skills

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

Common senior collector skills

Customer Service, 16%
Payment Arrangements, 13%
Past Due Accounts, 6%
Debt Repayment, 5%
Loss Mitigation, 5%
FDCPA, 4%