What is the salary and career path for a collections specialist?
Collections specialist falls under Bill and Account Collectors (SOC 43-3011), the closely matching BLS code; the OEWS May 2025 median is $47,030 a year ($22.61 an hour), running from $34,400 at the 10th percentile to $65,580 at the 90th for senior and lead collectors. BLS projects the code to decline 10.5% over 2024–2034 as automated dunning, self-service portals and outsourcing absorb routine contact work, with roughly 13,700 openings a year, almost all replacement. Entry needs only a high-school diploma, and FDCPA knowledge plus a strong recovery record lift pay.
- Collections Specialists earn a national median $47,030/yr ($22.61/hr) (BLS OEWS May 2025, SOC 43-3011); the top 10% clear $65,580.
- Collections specialist sits under Bill and Account Collectors (SOC 43-3011), with a $47,030 median and no degree required to enter.
- BLS projects the code to decline 10.5% through 2034 as automated dunning and portals absorb work, with roughly 13,700 openings a year, almost all replacement.
- Pay runs from a collections clerk near $34,400 to a collections supervisor at the $65,580 top decile, with recovery results and FDCPA skill the main levers.
Career Path
How do you become a collections specialist?
Collections clerk
Making early-stage calls and logging promises to pay, a collections clerk starts near the $34,400 10th percentile.
Collections Specialist
Working aged accounts and negotiating payment plans earns around the $47,030 median.
Senior / commercial collections specialist
Handling large commercial balances and skip-tracing pushes pay toward the $56,740 75th percentile.
Collections supervisor / manager
Running the collections team and recovery targets reaches the $65,580 90th percentile.
BLS Salary Data
Which state pays collections specialists the most in 2026?
Source: BLS OEWS May 2025, SOC 43-3011. National median: $47,030. Full salary guide →
Pay Comparison
How does collections specialist pay compare to related roles?
Head-to-head against the roles collections specialists most often weigh against. BLS OEWS May 2025 medians.
Takeaway: collections specialists rank 4 of 4 on median pay among the comparable roles above, with a projected −10.5% employment change 2024–34 (BLS Employment Projections). Pay position and projected demand together are what determine how quickly collections specialists clear offers across the GlobalCybers placement network.
Methodology & Sources
How this guide is sourced and reviewed
Wages (BLS): All median and percentile figures are BLS OEWS May 2025, SOC 43-3011 (collections specialists) and the matching SOC codes for each comparison role. OEWS is sampled on a rolling 3-year basis and published ~10 months after collection, so treat it as a firm anchor rather than a spot rate.
Job growth: Projected 2024–34 employment change, and the average annual openings figure, are from the BLS Employment Projections program, by occupation. Openings are a per-year average over the projection decade, not a decade total.
Licensing & credentials:Requirements are drawn from the issuing state licensing boards and the certifying body behind each credential — not from third-party aggregators.
Demand signal:Any statement about how quickly this role clears offers reflects GlobalCybers placement request volume across the trailing 12 months — our own network data, offered as a directional real-world indicator alongside BLS, not a market-wide survey.
Credentials
What licences and certifications do collections specialists need?
The minimum entry credential, paired with on-the-job collections training. See all state licences →
Working knowledge of the Fair Debt Collection Practices Act and applicable state rules.
A collections-industry credential from ACA International that validates professional practice.
Demonstrated command of collections and dialer platforms and account-management tools.
Tools & Software
What tools and software do collections specialists use on the job?
⚙️ Core Tools & Equipment
📊 BLS Employment Data, SOC 43-3011
Salary Levers
How do collections specialists earn above the $47,030 BLS median?
Build a strong recovery record
Proven recovery rates and incentives move pay off the $34,400 entry band toward the median.
Handle commercial collections
Large commercial balances and skip-tracing lift pay toward the $56,740 upper band.
Advance to collections supervisor
Managing the collections team reaches the $65,580 top decile.
This Route vs. College
Is becoming a collections specialist worth it vs. a 4-year degree?
The entry route into this role, set against a four-year degree. Same starting line, side by side.
Entry-level (10th percentile) and all-level median wages: BLS OEWS May 2025, SOC 43-3011. Student-debt figure: median federal borrower balance for bachelor's-degree completers. Starting-salary comparison is illustrative and varies by field and region.
FAQ
Collections Specialist Career, Frequently Asked Questions
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