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The differences between risk management interns and collections managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a risk management internship and a collections manager. Additionally, a collections manager has an average salary of $59,529, which is higher than the $46,800 average annual salary of a risk management internship.
The top three skills for a risk management internship include risk management, powerpoint and python. The most important skills for a collections manager are customer service, collection management, and portfolio.
| Risk Management Internship | Collections Manager | |
| Yearly salary | $46,800 | $59,529 |
| Hourly rate | $22.50 | $28.62 |
| Growth rate | 17% | 17% |
| Number of jobs | 120,198 | 44,553 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 51% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A risk management intern is responsible for assisting the risk management department in identifying potential risks on business functions and developing risk controls and procedures upon risk assessment. Risk management interns perform administrative duties under the supervision of tenured staff or a direct manager, such as writing risk evaluation reports, monitoring system failures, determining the risk levels, and supporting the implementation of business continuity plans. A risk management intern must have excellent communication and analytical skills, especially when conducting data analysis and reporting critical findings to the supervisor.
A collections manager is an individual who manages a staff of collectors whose job is to contact companies and individuals for the late payments on the products and services they have received. Collections managers oversee a company's process of retrieving money owed to them by assigning collectors to collect the money. They are required to handle customer complaints and must negotiate with customers about payment arrangements to ensure they are being paid. They also provide reports on the collection department's progress, statistics, and data analysis.
Risk management interns and collections managers have different pay scales, as shown below.
| Risk Management Internship | Collections Manager | |
| Average salary | $46,800 | $59,529 |
| Salary range | Between $25,000 And $86,000 | Between $42,000 And $83,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | Amazon |
| Best paying industry | - | Health Care |
There are a few differences between a risk management internship and a collections manager in terms of educational background:
| Risk Management Internship | Collections Manager | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 51% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between risk management interns' and collections managers' demographics:
| Risk Management Internship | Collections Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 56.1% Female, 43.9% | Male, 50.8% Female, 49.2% |
| Race ratio | Black or African American, 8.0% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 11.4% White, 64.3% American Indian and Alaska Native, 0.3% | Black or African American, 8.0% Unknown, 4.1% Hispanic or Latino, 15.5% Asian, 7.3% White, 64.7% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |