Senior collector vs collections manager

The differences between senior collectors and collections managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become a senior collector, becoming a collections manager takes usually requires 6-8 years. Additionally, a senior collector has an average salary of $85,626, which is higher than the $59,529 average annual salary of a collections manager.

The top three skills for a senior collector include customer service, payment arrangements and past due accounts. The most important skills for a collections manager are customer service, collection management, and portfolio.

Senior collector vs collections manager overview

	Senior Collector	Collections Manager
Yearly salary	$85,626	$59,529
Hourly rate	$41.17	$28.62
Growth rate	-8%	17%
Number of jobs	5,614	44,553
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 51%
Average age	46	46
Years of experience	12	8

Senior collector vs collections manager salary

Senior collectors and collections managers have different pay scales, as shown below.

	Senior Collector	Collections Manager
Average salary	$85,626	$59,529
Salary range	Between $50,000 And $145,000	Between $42,000 And $83,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Amazon
Best paying industry	-	Health Care

Differences between senior collector and collections manager education

There are a few differences between a senior collector and a collections manager in terms of educational background:

	Senior Collector	Collections Manager
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 51%
Most common major	Business	Business
Most common college	-	Stanford University

Senior collector vs collections manager demographics

Here are the differences between senior collectors' and collections managers' demographics:

	Senior Collector	Collections Manager
Average age	46	46
Gender ratio	Male, 40.1% Female, 59.9%	Male, 50.8% Female, 49.2%
Race ratio	Black or African American, 13.4% Unknown, 4.1% Hispanic or Latino, 20.9% Asian, 3.7% White, 57.4% American Indian and Alaska Native, 0.5%	Black or African American, 8.0% Unknown, 4.1% Hispanic or Latino, 15.5% Asian, 7.3% White, 64.7% American Indian and Alaska Native, 0.3%
LGBT Percentage	8%	11%

Differences between senior collector and collections manager duties and responsibilities

Senior collector example responsibilities.

Accomplish the above in compliance with HIPAA regulations.
Manage re-billings for third party accounts including: commercial carriers, manage care, PPO, POS and HMO organizations.
Record CPT codes and ICD-9 codes on billing forms.
Develop and pursue collection strategies to reduce the DSO.
Process credit cards, purchase cards, ACH payments.
Used the Medicaid web portal to check claim status and eligibility.

Collections manager example responsibilities.

Achieve 182 FTE save, and annual net saving of $2.8MM
Manage Medicaid accounts in effort to receive payment from them.
Manage self pay and Medicaid pending collections throughout the southeast region.
Organize the managed care effort to ensure that patients are not accept from incorrect PPO's and HMO's.
Create and implement new quantitative process to achieve corporate DSO targets that determines monthly cash collection targets by business unit.
Achieve historical low of six percent in A/R over 30 days past due and reduction of DSO to 53 days.

Senior collector vs collections manager skills

Common senior collector skills

Customer Service, 16%
Payment Arrangements, 13%
Past Due Accounts, 6%
Debt Repayment, 5%
Loss Mitigation, 5%
FDCPA, 4%

Common collections manager skills

Customer Service, 15%
Collection Management, 9%
Portfolio, 7%
FDCPA, 5%
Delinquent Accounts, 4%
Credit Card, 4%