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The differences between senior collection specialists and collections coordinators 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 coordinator. Additionally, a senior collection specialist has an average salary of $45,150, which is higher than the $37,938 average annual salary of a collections coordinator.
The top three skills for a senior collection specialist include portfolio, customer service and past due accounts. The most important skills for a collections coordinator are customer service, patients, and phone calls.
| Senior Collection Specialist | Collections Coordinator | |
| Yearly salary | $45,150 | $37,938 |
| Hourly rate | $21.71 | $18.24 |
| Growth rate | -8% | -8% |
| Number of jobs | 31,192 | 40,113 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 48% |
| 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.
Usually working alongside a company's account receivables team, a collections coordinator is in charge of developing strategies to optimize the payment collection operations. Among their responsibilities include reaching out to clients through calls or correspondence to remind them of their payment obligations, arranging appointments, processing payments, arranging payment terms, and researching a client's communication information such as cellphone number, address, or email. Moreover, a collections coordinator must maintain an active communication line with staff while promoting and enforcing the company's policies and regulations.
Senior collection specialists and collections coordinators have different pay scales, as shown below.
| Senior Collection Specialist | Collections Coordinator | |
| Average salary | $45,150 | $37,938 |
| Salary range | Between $33,000 And $61,000 | Between $30,000 And $47,000 |
| Highest paying City | Hartford, CT | New York, NY |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | JPMorgan Chase & Co. | University of California, Berkeley |
| Best paying industry | Health Care | Professional |
There are a few differences between a senior collection specialist and a collections coordinator in terms of educational background:
| Senior Collection Specialist | Collections Coordinator | |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 48% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between senior collection specialists' and collections coordinators' demographics:
| Senior Collection Specialist | Collections Coordinator | |
| Average age | 46 | 46 |
| Gender ratio | Male, 40.4% Female, 59.6% | Male, 26.6% Female, 73.4% |
| 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, 12.1% Unknown, 4.1% Hispanic or Latino, 20.8% Asian, 3.6% White, 59.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |