How Much Do Credit and Collections Representatives 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 representatives 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 representatives 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 representatives are offering as compensation.
Keep reading to learn more about how much credit and collections representatives can expect to make in the United States.
At a Glance: Salary & Jobs for Credit and Collections Representatives
According to data from 2023, there were about 33,132 positions for credit and collections representatives in the United States. In terms of salary, the national median salary for credit and collections representatives was reported to be $48,568. Additionally, when examining job demand, employers across the country posted 5,594 job postings related to positions for credit and collections representatives.
How Much Money Do Credit and Collections Representatives Make?
Median salary is just one data point. To build a better understanding of how much money credit and collections representatives 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 representatives.
Annual Salary for Credit and Collections Representatives
According to the BLS, the lowest earners for credit and collections representatives and related professions earned about $37,461 per year in 2023. Meanwhile, at the other end of the spectrum, the highest earners made about $75,026 annually.
As mentioned previously, the median salary for credit and collections representatives in the United States in 2023 was $48,568.
Annual Salary Range For Credit and Collections Representatives In 2023
Hourly Salary for Credit and Collections Representatives
The BLS also breaks down compensation for credit and collections representatives by hourly salary, and the median average hourly pay for credit and collections representatives in 2023 was $23. Lowest hourly earners took home $18 while the highest reported hourly salaries for credit and collections representatives was $36.
Hourly Salary Range For Credit and Collections Representatives In 2023
Advertised Compensation for Credit and Collections Representatives
Data from the BLS is one way to dig into compensation for credit and collections representatives, 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 representatives.
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 Representatives
Advertised Annual Salary
During a review of 6,807 job postings related to credit and collections representatives, advertised salary was included in 2,110 of them, which was 31%. Based on those postings, the median advertised salary for credit and collections representatives was $49,536 per year.
Hourly Salary from Job Postings for Credit and Collections Representatives
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for credit and collections representatives. Based on 38% of postings with advertised compensation, the median hourly salary for open positions for credit and collections representatives in the United States is about $24.
Salary Trend for Credit and Collections Representatives
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 representatives. 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 representatives dating back to September 2020, advertised salaries for credit and collections representatives have increased 29%.
Advertised Wage Trend For Credit and Collections Representatives
What's the Job Growth for Credit and Collections Representatives?
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 representatives over the next 10 years.
According to the data obtained through Lightcast,™ there were 33,069 jobs for credit and collections representatives in the United States in 2023. By 2033, it is expected that about 2,928 jobs will be added. That's a 8.9% increase over the next 10-year period.
Employment Projections For Credit and Collections Representatives
Additional Links
Ready to dig deeper into career information about credit and collections representatives? Visit our other pages focused on salary and education for credit and collections representatives.
What do credit and collections representatives do?
Credit and Collections Representatives: How do you become one?
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