How Much Do Credit and Collections Specialists Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary credit and collections specialists make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for credit and collections specialists and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of credit and collections specialists are offering as compensation.
Keep reading to learn more about how much credit and collections specialists can expect to make in the United States.
At a Glance: Salary & Jobs for Credit and Collections Specialists
According to data from 2022, there were about 73,074 positions for credit and collections specialists in the United States. In terms of salary, the national median salary for credit and collections specialists was reported to be $78,853. Additionally, when examining job demand, employers across the country posted 26,913 job postings related to positions for credit and collections specialists.
How Much Money Do Credit and Collections Specialists Make?
Median salary is just one data point. To build a better understanding of how much money credit and collections specialists and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for credit and collections specialists.
Annual Salary for Credit and Collections Specialists
According to the BLS, the lowest earners for credit and collections specialists and related professions earned about $47,965 per year in 2022. Meanwhile, at the other end of the spectrum, the highest earners made about $161,803 annually.
As mentioned previously, the median salary for credit and collections specialists in the United States in 2022 was $78,853.
Annual Salary Range For Credit and Collections Specialists In 2022
Hourly Salary for Credit and Collections Specialists
The BLS also breaks down compensation for credit and collections specialists by hourly salary, and the median average hourly pay for credit and collections specialists in 2022 was $38. Lowest hourly earners took home $23 while the highest reported hourly salaries for credit and collections specialists was $78.
Hourly Salary Range For Credit and Collections Specialists In 2022
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Degree Options for Credit and Collections Specialists
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Advertised Compensation for Credit and Collections Specialists
Data from the BLS is one way to dig into compensation for credit and collections specialists, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for credit and collections specialists.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Credit and Collections Specialists
Advertised Annual Salary
During a review of 23,346 job postings related to credit and collections specialists, advertised salary was included in 4,291 of them, which was 18%. Based on those postings, the median advertised salary for credit and collections specialists was $73,600 per year.
Hourly Salary from Job Postings for Credit and Collections Specialists
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for credit and collections specialists. Based on 16% of postings with advertised compensation, the median hourly salary for open positions for credit and collections specialists in the United States is about $35.
Salary Trend for Credit and Collections Specialists
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for credit and collections specialists. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for credit and collections specialists dating back to September 2019, advertised salaries for credit and collections specialists have increased 17%.
Advertised Wage Trend For Credit and Collections Specialists
What's the Job Growth for Credit and Collections Specialists?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for credit and collections specialists over the next 10 years.
According to the data obtained through Lightcast,™ there were 73,174 jobs for credit and collections specialists in the United States in 2022. By 2032, it is expected that about 2,731 jobs will be added. That's a 3.7% increase over the next 10-year period.
Employment Projections For Credit and Collections Specialists
Additional Links
Ready to dig deeper into career information about credit and collections specialists? Visit our other pages focused on salary and education for credit and collections specialists.
What do credit and collections specialists do?
Credit and Collections Specialists: How do you become one?
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