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The differences between senior accounts receivable specialists and collections specialists 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 collections specialist. Additionally, a senior accounts receivable specialist has an average salary of $54,494, which is higher than the $35,164 average annual salary of a collections specialist.
The top three skills for a senior accounts receivable specialist include account reconciliations, customer accounts and reconciliations. The most important skills for a collections specialist are customer service, patients, and customer accounts.
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.
As their name entails, collections specialists collect payments for the outstanding accounts receivables. Collections specialists list the names of those who were unable to pay their overdue bills based on their delinquency severity. They locate the customers through loan documents, background checks, credit bureau information, and other databases or paperwork. These specialists are expected to be excellent in their negotiation and communication skills. They should also be trustworthy, reliable, and act professionally to be considered as good specialists.
Senior accounts receivable specialists and collections specialists have different pay scales, as shown below.
| Senior Accounts Receivable Specialist | Collections Specialist | |
| Average salary | $54,494 | $35,164 |
| Salary range | Between $38,000 And $78,000 | Between $27,000 And $45,000 |
| Highest paying City | Washington, DC | Boston, MA |
| 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. | Kent Daniels & Associates |
| Best paying industry | Technology | Finance |
There are a few differences between a senior accounts receivable specialist and a collections specialist in terms of educational background:
| Senior Accounts Receivable Specialist | Collections Specialist | |
| Most common degree | Bachelor's Degree, 49% | Bachelor's Degree, 34% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between senior accounts receivable specialists' and collections specialists' demographics:
| Senior Accounts Receivable Specialist | Collections Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 18.3% Female, 81.7% | Male, 30.5% Female, 69.5% |
| 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, 12.2% Unknown, 4.1% Hispanic or Latino, 18.5% Asian, 3.7% White, 61.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |