A credit and collections representative, according to the Bureau of Labor Statistics, typically calls individuals and businesses who are overdue on their bills. They use investigative tools like the Internet, post office, credit bureaus, or neighbors to find out where they live before they call. When they do call (or perhaps email), they let them know that they have an overdue bill, and they try to negotiate a payment. The work can be stressful because people often become angry when they are faced with having to pay a debt.
Salaries at the National Level
The mean hourly wage for this position is $18.10, as of May 2017, according to BLS data. The annual average salary is $37,650. The median annual salary is $35,330, and those in the lowest tenth percentile earn $11.50 per hour, or $23,920 per year. Those in the 90th percentile earn $26.45 per hour, or $55,020 per year.
Salary by Industry
The highest paying industry for credit and collections representatives is Natural Gas Distribution at a mean hourly wage of $29.33, or $61,000 per year. Electric Power Generation, Transmission and Distribution pays an average of $24.57 per hour, or $51,110 per year. Water, Sewage, and Other Systems has an average hourly wage of $24.37, or $50,680 per year. Audio and Video Equipment Manufacturing has an hourly mean wage of $23.93, and the annual mean wage is $49,770, while Other Specialty Trade Contractors pays $23.87 per hour, on average, or $49,650 per year, on average.
Salary by State
Move to the District of Columbia to earn the highest salary for this occupation in the country. The annual mean wage there is $63,570, or $30.56 per hour. In Connecticut, the hourly mean wage is $22.34, or $46,470 annually. The third highest-paying state is Massachusetts at $21.49 per hour, on average, or $44,700 per year. New Jersey comes in fourth place at $21.11 per hour, on average, or $43,920 per hour.
Salary by Metro Area
The award for the highest-paying metro area for this occupation is Lowell-Billerica-Chelmsford, MA-NH, where the hourly mean wage is $27.11, and the average annual salary is $56,390. The Newark, NJ-PA metro area comes next at $26.96 per hour, on average, or $56,080. The Bridgeport-Stamford-Norwalk, CT metro area pays an average of $25.72, or $53,500 per hour. Fourth place belongs to Napa, CA at $24.21 per hour, on average, or $50,350 per year.
Salary by Non-Metro Area
The Northwest Colorado non-metro area pays the highest among non-metro areas with an annual average salary of $24.06, or $50,040 per year. The North Coast Region of California comes in second place at $22.43 per hour, on average, or $46,650 annually. The Southwest Washington non-metro area pays $22.11 per hour, on average, and the average annual salary there is $45,990. Finally, Southwest Wyoming is a great place to be because the average hourly wage is $21.56, or $44,850 per year.