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Collections manager salary
Average collections manager salary
$59,529
Understanding Collections Manager Salaries
As a Collections Manager, your responsibilities include overseeing debt recovery processes, managing team performance, and ensuring compliance with regulations. According to recent data, the average annual salary for Collections Managers is $59,529. Salaries can vary by factors such as geographic location, industry, and level of experience. For instance, Collections Managers with more than five years of experience can expect higher compensation, with some earning upwards of $70,000 annually.
Variations by State
Where you work significantly impacts your salary. States such as California and New York typically offer higher salaries due to the cost of living and demand for skilled professionals. Understanding regional salary trends can help you make informed career decisions, whether you’re considering a new position or negotiating your current salary.
Advancement Opportunities
With experience, Collections Managers can advance to senior management roles, leading to greater responsibilities and higher salaries. By developing skills in negotiation, finance, and team leadership, you can position yourself for success in this rewarding career path.
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Where can a Collections Manager earn more?
Collections manager salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level collections manager | $40,900 | $19.68 |
| Mid-level collections manager | $63,300 | $30.46 |
| Senior-level collections manager | $97,400 | $46.81 |
Collections manager salary estimates from across the web
Average collections manager salary by state
The highest-paying states for collections managers are New York, Ohio, and California. The lowest average collections manager salary states are Nebraska, Georgia, and Kansas.
- State view
- County view
Highest paying states for collections managers
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $72,755 | $34.98 |
| 2 | Pennsylvania | $64,920 | $31.21 |
| 3 | Ohio | $70,313 | $33.80 |
| 4 | California | $66,804 | $32.12 |
| 5 | Delaware | $66,315 | $31.88 |
| 6 | Connecticut | $61,578 | $29.60 |
| 7 | Virginia | $61,038 | $29.35 |
| 8 | Oregon | $61,639 | $29.63 |
| 9 | Washington | $59,528 | $28.62 |
| 10 | New Jersey | $61,498 | $29.57 |
| 11 | Indiana | $59,523 | $28.62 |
| 12 | Michigan | $58,732 | $28.24 |
| 13 | Nevada | $58,533 | $28.14 |
| 14 | District of Columbia | $60,381 | $29.03 |
| 15 | Massachusetts | $59,956 | $28.82 |
| 16 | Maryland | $60,666 | $29.17 |
| 17 | Minnesota | $58,504 | $28.13 |
| 18 | Texas | $56,217 | $27.03 |
| 19 | Rhode Island | $58,645 | $28.19 |
| 20 | Illinois | $55,591 | $26.73 |
| 21 | Kentucky | $57,745 | $27.76 |
| 22 | West Virginia | $57,982 | $27.88 |
| 23 | Tennessee | $55,127 | $26.50 |
| 24 | Arizona | $53,390 | $25.67 |
| 25 | South Carolina | $56,550 | $27.19 |
| 26 | Alaska | $56,147 | $26.99 |
| 27 | Louisiana | $56,682 | $27.25 |
| 28 | Colorado | $53,069 | $25.51 |
| 29 | New Hampshire | $55,593 | $26.73 |
| 30 | Hawaii | $57,572 | $27.68 |
| 31 | North Dakota | $53,900 | $25.91 |
| 32 | Arkansas | $48,790 | $23.46 |
| 33 | Wisconsin | $51,258 | $24.64 |
| 34 | Montana | $51,706 | $24.86 |
| 35 | North Carolina | $49,602 | $23.85 |
| 36 | Missouri | $48,751 | $23.44 |
| 37 | Florida | $48,795 | $23.46 |
| 38 | Utah | $47,719 | $22.94 |
| 39 | South Dakota | $50,534 | $24.30 |
| 40 | New Mexico | $49,962 | $24.02 |
| 41 | Iowa | $46,912 | $22.55 |
| 42 | Wyoming | $49,443 | $23.77 |
| 43 | Georgia | $44,661 | $21.47 |
| 44 | Maine | $47,910 | $23.03 |
| 45 | Alabama | $44,119 | $21.21 |
| 46 | Vermont | $46,766 | $22.48 |
| 47 | Idaho | $46,392 | $22.30 |
| 48 | Nebraska | $45,102 | $21.68 |
| 49 | Kansas | $44,564 | $21.43 |
| 50 | Oklahoma | $44,050 | $21.18 |
| 51 | Mississippi | $43,892 | $21.10 |
Highest paying cities for collections managers
The highest-paying cities for collections managers are New York, NY, Cleveland, OH, and Wilmington, DE.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York, NY | $73,253 | $35.22 |
| 2 | Cleveland, OH | $72,110 | $34.67 |
| 3 | Wilmington, DE | $66,396 | $31.92 |
| 4 | Los Angeles, CA | $66,015 | $31.74 |
| 5 | Philadelphia, PA | $65,276 | $31.38 |
| 6 | Norwalk, CT | $62,623 | $30.11 |
| 7 | McLean, VA | $61,946 | $29.78 |
| 8 | Washington, NJ | $61,681 | $29.65 |
| 9 | Columbia, MD | $60,714 | $29.19 |
| 10 | Washington, DC | $60,370 | $29.02 |
| 11 | Seattle, WA | $60,193 | $28.94 |
| 12 | Boston, MA | $59,835 | $28.77 |
| 13 | Las Vegas, NV | $58,207 | $27.98 |
| 14 | Urban Honolulu, HI | $57,637 | $27.71 |
| 15 | San Antonio, TX | $56,797 | $27.31 |
| 16 | Fairbanks, AK | $56,364 | $27.10 |
| 17 | Chicago, IL | $55,896 | $26.87 |
| 18 | Phoenix, AZ | $53,457 | $25.70 |
| 19 | Colorado Springs, CO | $53,126 | $25.54 |
| 20 | Brookfield, WI | $51,340 | $24.68 |
Collections manager salary details
A collections manager's salary ranges from $42,000 a year at the 10th percentile to $83,000 at the 90th percentile.
What is a collections manager's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $83,000 | $6,917 | $40 |
| 75th Percentile | $71,000 | $5,917 | $34 |
| Average | $59,529 | $4,961 | $29 |
| 25th Percentile | $49,000 | $4,083 | $24 |
| 10th Percentile | $42,000 | $3,500 | $20 |
Highest paying collections manager jobs
The highest paying types of collections managers are audit manager, investments manager, and risk manager.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Finance Manager | $101,374 | $8,448 | $48.74 | 125,345 |
| Tax Manager | $96,100 | $8,008 | $46.20 | 79,204 |
| Finance Center Manager | $58,763 | $4,897 | $28.25 | 151,642 |
| Manager | $58,651 | $4,888 | $28.20 | 1,236,194 |
| Branch Manager | $56,291 | $4,691 | $27.06 | 333,883 |
| Audit Manager | $121,419 | $10,118 | $58.37 | 70,168 |
Top companies hiring collections managers now:
Which companies pay collections managers the most?
Collections manager salaries at Amazon and Citi are the highest-paying according to our most recent salary estimates. In addition, the average collections manager salary at companies like Westat and Forever 21 are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Amazon | $96,025 | $46.17 |
| 2 | Citi | $91,668 | $44.07 |
| 3 | Westat | $85,185 | $40.95 |
| 4 | Forever 21 | $78,230 | $37.61 |
| 5 | Gardner Denver | $76,956 | $37.00 |
| 6 | Mediware | $76,708 | $36.88 |
| 7 | Kent Daniels & Associates | $76,699 | $36.87 |
| 8 | Bluehawk Consulting | $70,688 | $33.98 |
| 9 | AIG | $69,917 | $33.61 |
| 10 | The Wild Center | $69,285 | $33.31 |
| 11 | Booz Allen Hamilton | $68,370 | $32.87 |
| 12 | New York Community Bank | $65,891 | $31.68 |
| 13 | First Commerce Credit Union | $65,409 | $31.45 |
| 14 | ARA | $64,613 | $31.06 |
| 15 | Discover | $64,175 | $30.85 |
| 16 | Butzel Long | $63,576 | $30.57 |
| 17 | HonorHealth | $63,183 | $30.38 |
| 18 | B3H | $63,159 | $30.36 |
| 19 | Celestar | $62,852 | $30.22 |
| 20 | Natural History Museum of Los Angeles County | $62,581 | $30.09 |
Wage gap by gender, race and education
Collections Manager salary by industry
The average collections manager salary varies across industries:
- The average collections manager salary in the health care industry is $60,577, the highest of any industry.
- The average collections manager salary in the finance industry is $58,699.
- Collections managers in the manufacturing industry earn an average salary of $53,589, the lowest of any industry.
Highest paying industries for collections managers
| Rank | Industry | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Health Care | $60,577 | $29.12 |
| 2 | Professional | $58,699 | $28.22 |
| 3 | Finance | $57,499 | $27.64 |
| 4 | Start-up | $57,312 | $27.55 |
| 5 | Manufacturing | $53,589 | $25.76 |
High paying collections manager jobs
Collections manager salary trends
The average collections manager salary has risen by $11,987 over the last ten years. In 2014, the average collections manager earned $47,542 annually, but today, they earn $59,529 a year. That works out to a 10% change in pay for collections managers over the last decade.
Compare collections manager salaries for cities or states with the national average over time.
Average collections manager salary over time
Compare collections manager salaries for individual cities or states with the national average.
Collections manager salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $59,500 | $28.62 | +3.2% |
| 2025 | $57,600 | $27.70 | +1.5% |
| 2024 | $56,800 | $27.30 | +2.3% |
| 2023 | $55,500 | $26.68 | +2.7% |
| 2022 | $54,000 | $25.97 | +3.1% |
Recently added collections manager salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Enova | Collections Manager (Hybrid) | Denver, CO | 06/29/2025 | $76,000 |
| Los Angeles County Museum of Natural History Foundation | Collections Manager | Los Angeles, CA | 06/29/2025 | $69,000 |
| Booz Allen Hamilton Inc. | Geoint Collection Manager, Mid | Springfield, VA | 06/28/2025 | $62,000 |
| Goodwin Procter | Manager, Collections | Boston, MA | 06/28/2025 | $105,800 |
| Gustavus Adolphus College | Information Desk and Digital Collections Manager | Saint Peter, MN | 06/28/2025 | $40,000 |
| Stvinc | Collections Manager | New York, NY | 06/28/2025 | $63,305 |
| Northpoint Search Group | Collections Manager | Atlanta, GA | 06/25/2025 | $80,000 |
| Neheadstart | Collections Manager | Lincoln, NE | 06/24/2025 | $49,525 |
| Sharonview Federal Credit Union | Loan Collection Manager | Landrum, SC | 06/23/2025 | $70,100 |
| Booz Allen Hamilton | Collections Manager, Mid | East Riverdale, MD | 06/22/2025 | $62,000 |
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