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The differences between senior collection specialists and accounts receivable 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 collection specialist and an accounts receivable specialist. Additionally, a senior collection specialist has an average salary of $45,150, which is higher than the $39,873 average annual salary of an accounts receivable specialist.
The top three skills for a senior collection specialist include portfolio, customer service and past due accounts. The most important skills for an accounts receivable specialist are customer service, patients, and data entry.
| Senior Collection Specialist | Accounts Receivable Specialist | |
| Yearly salary | $45,150 | $39,873 |
| Hourly rate | $21.71 | $19.17 |
| Growth rate | -8% | -8% |
| Number of jobs | 31,192 | 61,988 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 45% |
| Average age | 46 | 46 |
| Years of experience | 12 | 12 |
Senior collection specialists lead others by distributing and balancing workload, providing on-the-job training, and demonstrating proper work methods to employees. The specialists determine the most effective and economical means of collecting for each account, compose correspondence requiring knowledge procedure and practices in the collection, and apply standard due diligence practice to collect monies owed. They should have work leadership, know how to gather data, and analyze financial information for decision-making purposes. Also, they apply payments received to proper accounts and make necessary adjustments or corrections.
Accounts receivable specialists are members of the organization's finance or accounting department. They are responsible for managing the collection of payments for the company. They prepare official receipts and coordinate with account payable specialists from other companies with pending payables. They ensure that clients pay on time, and they also follow up on payments when necessary. They are responsible for checking whether the clients have already paid in full. Accounts receivable specialists are in charge of updating accounting records as well to ensure that client records are up to date.
Senior collection specialists and accounts receivable specialists have different pay scales, as shown below.
| Senior Collection Specialist | Accounts Receivable Specialist | |
| Average salary | $45,150 | $39,873 |
| Salary range | Between $33,000 And $61,000 | Between $31,000 And $50,000 |
| Highest paying City | Hartford, CT | Washington, DC |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | JPMorgan Chase & Co. | InfosysPublicService |
| Best paying industry | Health Care | Technology |
There are a few differences between a senior collection specialist and an accounts receivable specialist in terms of educational background:
| Senior Collection Specialist | Accounts Receivable Specialist | |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 45% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between senior collection specialists' and accounts receivable specialists' demographics:
| Senior Collection Specialist | Accounts Receivable Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 40.4% Female, 59.6% | Male, 18.2% Female, 81.8% |
| Race ratio | Black or African American, 12.3% Unknown, 4.0% Hispanic or Latino, 20.9% Asian, 3.5% White, 58.8% American Indian and Alaska Native, 0.5% | Black or African American, 12.9% Unknown, 4.2% Hispanic or Latino, 19.0% Asian, 3.9% White, 59.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |