How much does a Collection Specialist make?
A Collection Specialist handles accounts and helps businesses recover money that is owed. This job can be found in many different industries. The pay for a Collection Specialist can vary based on experience and location. Most earn between $26,102 and $73,070 a year. The average yearly salary is about $41,155.
Collection Specialists can work in various environments. Some work in call centers while others might do their job from home. The more experience a specialist has, the more they can earn. Entry-level specialists start at the lower end of the pay scale. Over time, with experience and skill development, they can move up to higher pay brackets. Geographic location also affects salary. Larger cities often pay more due to a higher cost of living.
What are the highest paying cities for a Collection Specialist?
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Seattle, WA
Average Salary: $60,027
In Seattle, a collection specialist can expect to work with companies like Amazon and Microsoft. The city offers a dynamic work environment with opportunities to develop strong communication skills. The tech-heavy industry presents a unique setting for those in this role.
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Los Angeles, CA
Average Salary: $55,723
Los Angeles boasts a diverse job market, making it an exciting place to work in collections. Companies like Wells Fargo and AT&T need professionals to manage accounts. The bustling city offers many paths for career growth and networking.
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Philadelphia, PA
Average Salary: $53,581
Philadelphia provides a rich history and diverse industry experience. Here, specialists can work with firms like Comcast and Penn Medicine. The city’s blend of tradition and modernity makes it an appealing place to build a career.
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Eugene, OR
Average Salary: $50,779
Eugene offers a smaller-city feel with a vibrant community. Local employers such as Amazon and Lithia Motors hire collection specialists. This city values education and innovation, creating a supportive work environment.
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Richmond, VA
Average Salary: $50,634
Richmond has a historic charm and a growing job market. Collection specialists can find opportunities with major firms like Dominion Energy and Altria. The city combines southern hospitality with modern job prospects.
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Minneapolis, MN
Average Salary: $49,749
Minneapolis features a mix of urban and natural settings. Companies like Target and U.S. Bank employ collection specialists. The city’s strong economy and community focus provide a stable job market.
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San Diego, CA
Average Salary: $49,740
San Diego offers beautiful weather and a thriving business environment. Specialists work with companies like Qualcomm and Sharp HealthCare. The coastal city provides a relaxing backdrop for a rewarding career.
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Denver, CO
Average Salary: $48,547
Denver combines mountain beauty with a dynamic job scene. Employers such as Denver Health and United Airlines hire collection specialists. The outdoorsy lifestyle makes for a refreshing work environment.
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Albany, NY
Average Salary: $48,104
Albany provides a historic setting with a mix of government and private jobs. Companies like MVP Health Care and Hannaford employ collection specialists. The city’s rich culture offers diverse career opportunities.
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Baltimore, MD
Average Salary: $48,062
Baltimore is known for its vibrant culture and strong job market. Collection specialists work with firms like Black & Decker and Under Armour. The city’s unique charm and opportunities make it an attractive place to work.
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What are the best companies a Collection Specialist can work for?
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Bloodworks Northwest
Average Salary: $61,497
Bloodworks Northwest offers Collection Specialist positions with competitive salaries. They operate in Washington, Oregon, and Alaska. They focus on collecting blood donations and ensuring a safe blood supply.
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County of Riverside
Average Salary: $51,841
The County of Riverside provides Collection Specialist roles with a solid salary. They serve in Riverside County, California. They work to collect various fees and payments, ensuring accurate record-keeping.
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Control Air Enterprises LLC
Average Salary: $50,500
Control Air Enterprises LLC offers Collection Specialist jobs with an average salary. They operate across the United States. Their focus includes collecting payments for air quality services.
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Accenture
Average Salary: $49,420
Accenture provides Collection Specialist positions with an average salary. They have a global presence. They focus on collecting client payments for consulting services.
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HD Supply
Average Salary: $48,048
HD Supply offers Collection Specialist roles with a decent salary. They operate across the United States. They focus on collecting payments for wholesale supplies.
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IQVIA
Average Salary: $47,524
IQVIA provides Collection Specialist positions with a solid salary. They have offices worldwide. They focus on collecting data and payments for healthcare research.
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Avera Health
Average Salary: $47,045
Avera Health offers Collection Specialist jobs with a competitive salary. They serve in South Dakota, Iowa, and Minnesota. They focus on collecting payments for healthcare services.
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Randstad
Average Salary: $45,218
Randstad provides Collection Specialist positions with an average salary. They operate globally. They focus on placing candidates in various roles, including collections.
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Graybar
Average Salary: $42,250
Graybar offers Collection Specialist roles with a decent salary. They operate across the United States. They focus on collecting payments for electrical and data communications products.
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Amerita
Average Salary: $42,093
Amerita provides Collection Specialist positions with a fair salary. They serve in several states, including Texas and California. They focus on collecting payments for medical billing services.
How to earn more as a Collection Specialist?
A Collection Specialist can earn more by improving specific skills and focusing on career growth. Gaining experience in debt collection techniques helps to recover more money. Learning to communicate effectively with debtors increases the chances of successful payments. Specializing in certain types of collections, such as medical or tax debt, can lead to higher-paying opportunities. Building a good reputation in the industry opens up more job options.
Here are some factors that can help a Collection Specialist earn more:
- Skill Development: Taking courses on communication and negotiation can boost earnings.
- Certifications: Obtaining certifications in collections can increase earning potential.
- Experience: Working longer in the field allows for promotions and higher pay.
- Networking: Connecting with other professionals can lead to new job opportunities.
- Company Performance: Working for a top-performing company can offer better compensation packages.
