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The differences between senior collection specialists and collections/accounts receivables 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 a collections/accounts receivable. Additionally, a senior collection specialist has an average salary of $45,150, which is higher than the $38,949 average annual salary of a collections/accounts receivable.
The top three skills for a senior collection specialist include portfolio, customer service and past due accounts. The most important skills for a collections/accounts receivable are customer service, patients, and delinquent accounts.
| Senior Collection Specialist | Collections/Accounts Receivable | |
| Yearly salary | $45,150 | $38,949 |
| Hourly rate | $21.71 | $18.73 |
| Growth rate | -8% | -8% |
| Number of jobs | 31,192 | 30,523 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 40% |
| 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.
An officer for collections/accounts receivable is in charge of a company's financial activities, ensuring that they receive payment from clients. They primarily focus on overseeing all billing and invoices, processing and verifying all receipts and rendered services, maintaining an accurate record of all transactions, producing reports and presentations, reviewing account and payment histories, and ensuring the accuracy of all processes involving the matter. Furthermore, should there be any complex issues, it is essential to reach out to a manager or a supervisor right away.
Senior collection specialists and collections/accounts receivables have different pay scales, as shown below.
| Senior Collection Specialist | Collections/Accounts Receivable | |
| Average salary | $45,150 | $38,949 |
| Salary range | Between $33,000 And $61,000 | Between $30,000 And $49,000 |
| Highest paying City | Hartford, CT | Boston, MA |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | JPMorgan Chase & Co. | Apollo Global Management |
| Best paying industry | Health Care | Finance |
There are a few differences between a senior collection specialist and a collections/accounts receivable in terms of educational background:
| Senior Collection Specialist | Collections/Accounts Receivable | |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 40% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between senior collection specialists' and collections/accounts receivables' demographics:
| Senior Collection Specialist | Collections/Accounts Receivable | |
| Average age | 46 | 46 |
| Gender ratio | Male, 40.4% Female, 59.6% | Male, 25.3% Female, 74.7% |
| 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, 12.0% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |