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The differences between senior collection specialists and senior account 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 a senior account specialist. Additionally, a senior account specialist has an average salary of $68,185, which is higher than the $45,150 average annual salary of a senior collection specialist.
The top three skills for a senior collection specialist include portfolio, customer service and past due accounts. The most important skills for a senior account specialist are patients, healthcare, and account management.
| Senior Collection Specialist | Senior Account Specialist | |
| Yearly salary | $45,150 | $68,185 |
| Hourly rate | $21.71 | $32.78 |
| Growth rate | -8% | -8% |
| Number of jobs | 31,192 | 103,476 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 65% |
| 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.
A senior account specialist is in charge of overseeing client accounts and financial transactions in businesses, ensuring accuracy and efficiency. It is their responsibility to gather and analyze extensive data, manage staff, and liaise with external parties such as vendors and suppliers. They also process invoices, vouchers, checks, job orders, and other documents. Moreover, as a senior account specialist, it is essential to lead and serve as a mentor to junior account specialists, all while implementing the company's policies and regulations.
Senior collection specialists and senior account specialists have different pay scales, as shown below.
| Senior Collection Specialist | Senior Account Specialist | |
| Average salary | $45,150 | $68,185 |
| Salary range | Between $33,000 And $61,000 | Between $46,000 And $100,000 |
| Highest paying City | Hartford, CT | Washington, DC |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | JPMorgan Chase & Co. | AbbVie |
| Best paying industry | Health Care | Pharmaceutical |
There are a few differences between a senior collection specialist and a senior account specialist in terms of educational background:
| Senior Collection Specialist | Senior Account Specialist | |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between senior collection specialists' and senior account specialists' demographics:
| Senior Collection Specialist | Senior Account Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 40.4% Female, 59.6% | Male, 37.4% Female, 62.6% |
| 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, 14.0% Unknown, 4.0% Hispanic or Latino, 17.5% Asian, 3.6% White, 60.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |