Collections Manager
Impact: Financial recovery, Risk mitigation
Oversee and manage the collection of outstanding debts from individuals or businesses, developing strategies to minimize losses and improve recovery rates.
What the day looks like
- People interaction
- Extensive
- Team vs solo
- 60% Team / 40% Solo
- Client facing
- Frequent
- Impact visibility
- High
- Travel
- Minimal
- Schedule flexibility
- Flexible
- Remote work
- Hybrid
- Typical work hours
- 40-50 hours/week
- Stress level
- High
At a glance
- Median salary
- $85,000
- Entry-level
- $55,000 - $75,000
- Senior
- $110,000+
- Growth by 2033
- 4% (average)
- Demand
- Stable
- Freelance potential
- Low
- Salary growth potential
- Moderate to 50-70% growth from entry to senior
- Typical student debt
- $20,000 - $40,000
Skills you'll use
Hard skills
- Debt Collection Software
- Financial Analysis
- Regulatory Compliance
- Data Entry
- Reporting
- Account Management
Soft skills
- Negotiation
- Communication
- Problem-solving
- Empathy
- Organization
- Conflict Resolution
Technical complexity: Moderate
How to get there
- Minimum education
- Bachelor's Degree
- Licensing
- No
- Years to mid-career
- 5-8 years
- Years to senior
- 10-15 years
- Career switching
- Moderate
Where this career leads
How people arrive here
Where you can go from here
Typical progression
- Collections Specialist
- Senior Collections Specialist
- Collections Manager
- Director of Collections
Future outlook
- Automation probability
- 30% to some tasks can be automated, but human judgment remains crucial
- AI disruption risk
- Moderate
- Demand trend
- Stable
How people feel about it
- Overall satisfaction
- 3/10
- Meaning
- 2.8/10
- Work-life balance
- 5/10
- Prestige
- 6.5/10
- Social perception
- Moderate