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The differences between senior accounts receivable specialists and collection analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a senior accounts receivable specialist and a collection analyst. Additionally, a senior accounts receivable specialist has an average salary of $54,494, which is higher than the $46,819 average annual salary of a collection analyst.
The top three skills for a senior accounts receivable specialist include account reconciliations, customer accounts and reconciliations. The most important skills for a collection analyst are customer service, portfolio, and patients.
Senior accounts receivable specialists follow established accounts receivable and account payable policies, guidelines, control processes, and procedures. The specialists make sure that activities associated with the payables and receivables are accurate. They assist the partners of firms in terms of collecting and reporting accounts receivable balances that are already past due. It is their job to establish extensive contact with clients and partners. Also, they are responsible for tracking payments and perform banking deposits.
Collections analysts assess the riskiness of a company or person in credit extension and repayment collection. The analysts manage data processing contract procurement negotiation. They help in the quarterly and yearly external and internal audits. It is part of their job to collect the first payment default and make sure that portfolios are inappropriate performance. They also act on collection calls for the area of responsibility assigned to them.
Senior accounts receivable specialists and collection analysts have different pay scales, as shown below.
| Senior Accounts Receivable Specialist | Collection Analyst | |
| Average salary | $54,494 | $46,819 |
| Salary range | Between $38,000 And $78,000 | Between $31,000 And $69,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | Amkor Technology is a strategically located company with a diversified working environment. Employees mention free lunches, transportation, and lodging, and the management is good at recognizing key talents. | American Tower |
| Best paying industry | Technology | Technology |
There are a few differences between a senior accounts receivable specialist and a collection analyst in terms of educational background:
| Senior Accounts Receivable Specialist | Collection Analyst | |
| Most common degree | Bachelor's Degree, 49% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between senior accounts receivable specialists' and collection analysts' demographics:
| Senior Accounts Receivable Specialist | Collection Analyst | |
| Average age | 46 | 46 |
| Gender ratio | Male, 18.3% Female, 81.7% | Male, 37.7% Female, 62.3% |
| Race ratio | Black or African American, 14.1% Unknown, 4.1% Hispanic or Latino, 19.0% Asian, 3.8% White, 58.5% American Indian and Alaska Native, 0.5% | Black or African American, 13.9% Unknown, 4.2% Hispanic or Latino, 18.6% Asian, 4.0% White, 58.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |