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The differences between senior relationship managers and collections managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a senior relationship manager and a collections manager. Additionally, a senior relationship manager has an average salary of $112,626, which is higher than the $59,529 average annual salary of a collections manager.
The top three skills for a senior relationship manager include business development, financial services and financial statements. The most important skills for a collections manager are customer service, collection management, and portfolio.
| Senior Relationship Manager | Collections Manager | |
| Yearly salary | $112,626 | $59,529 |
| Hourly rate | $54.15 | $28.62 |
| Growth rate | 17% | 17% |
| Number of jobs | 55,259 | 44,553 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 51% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A senior relationship manager is responsible for handling clients and customer relationships, ensuring that the team provides the highest quality service for the customers to maintain the company's excellent reputation and operational efficiency. Senior relationship managers analyze current market trends to identify business opportunities that meet the clients' demands and public interests, generating resources for revenues, and increasing the company's profitability. They also assist the marketing and sales team in developing promotional strategies for brand awareness to attract potential clients and create business partnerships.
A collections manager is an individual who manages a staff of collectors whose job is to contact companies and individuals for the late payments on the products and services they have received. Collections managers oversee a company's process of retrieving money owed to them by assigning collectors to collect the money. They are required to handle customer complaints and must negotiate with customers about payment arrangements to ensure they are being paid. They also provide reports on the collection department's progress, statistics, and data analysis.
Senior relationship managers and collections managers have different pay scales, as shown below.
| Senior Relationship Manager | Collections Manager | |
| Average salary | $112,626 | $59,529 |
| Salary range | Between $78,000 And $161,000 | Between $42,000 And $83,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Bloomberg | Amazon |
| Best paying industry | Finance | Health Care |
There are a few differences between a senior relationship manager and a collections manager in terms of educational background:
| Senior Relationship Manager | Collections Manager | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 51% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between senior relationship managers' and collections managers' demographics:
| Senior Relationship Manager | Collections Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 64.4% Female, 35.6% | Male, 50.8% Female, 49.2% |
| Race ratio | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.6% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% | 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 | 11% | 11% |