How much does a Credit and Collections Manager make in the United States? The average Credit and Collections Manager salary in the United States is $111,154 as of April 24, 2024, but the range typically falls between $96,167 and $128,298. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. 

Credit and Collections Manager Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Credit and Collections Manager Salary $82,522 US April 24, 2024
25th Percentile Credit and Collections Manager Salary $96,167 US April 24, 2024
50th Percentile Credit and Collections Manager Salary $111,154 US April 24, 2024
75th Percentile Credit and Collections Manager Salary $128,298 US April 24, 2024
90th Percentile Credit and Collections Manager Salary $143,908 US April 24, 2024
25% $96,167 10% $82,522 90% $143,908 75% $128,298 $111,154 50%(Median) Didn’t find job title? Click
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What skills does a Credit and Collections Manager need?

Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.

Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.

2.

Credit Card: A credit card is a type of credit facility, provided by banks that allow customers to borrow funds within a pre-approved credit limit.

3.

Credit Policy: Credit policy is a set of terms that lays out how your company will issue credit to its clients and collect unpaid debts. It maximize the company revenue/business while minimizing the risk generated by extending credit.

Customer Service 7.22%
Credit Card 1.68%
Credit Policy 1.24%
Others 89.86%

Job Description for Credit and Collections Manager

Credit and Collections Manager develops and administers credit and collection programs. Oversees investigation of credit risk in customers and suppliers and advises on course of action for credit applications. Being a Credit and Collections Manager designs and implements processes to improve cash flow and reduce receivables. Monitors and negotiates the collection of overdue accounts. Additionally, Credit and Collections Manager monitors credit and collection processes and operations; makes recommendations on opportunities for improvement. Requires a bachelor's degree. Typically reports to a director. The Credit and Collections Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be a Credit and Collections Manager typically requires 5 years experience in the related area as an individual contributor. 1-3 years supervisory experience may be required. Extensive knowledge of the function and department processes. (Copyright 2024 Salary.com)... View full job description

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Career Path for Credit and Collections Manager

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Credit and Collections Manager, the upper level is Credit and Collections Director and then progresses to Top Credit and Collections Executive.

Those that have already made the climb...
Theodore B. Young, Chief Financial Officer
Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.
Fiscal Year Ended in 2023
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Credit and Collections Manager salary varies from city to city. Compared with national average salary of Credit and Collections Manager, the highest Credit and Collections Manager salary is in San Francisco, CA, where the Credit and Collections Manager salary is 25.0% above. The lowest Credit and Collections Manager salary is in Miami, FL, where the Credit and Collections Manager salary is 3.5% lower than national average salary.

City, State Compared to national average
City, State San Francisco, CA Compared to national average
+ 25.0%
City, State Washington, DC Compared to national average
+ 11.3%
City, State Miami, FL Compared to national average
-3.5%
City, State Chicago, IL Compared to national average
+ 4.9%
City, State Boston, MA Compared to national average
+ 12.1%
City, State New York, NY Compared to national average
+ 16.8%
City, State Dallas, TX Compared to national average
-1.3%

Take just three simple steps below to generate your own personalized salary report

Step 1 of 3

Understand the total compensation opportunity for a Credit and Collections Manager, base salary plus other pay elements

Average Base Salary

Core compensation

 
 
 
96167
128298
111154

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
102126
144340
121149
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Credit and Collections Manager in the United States. The base salary for Credit and Collections Manager ranges from $96,167 to $128,298 with the average base salary of $111,154. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $102,126 to $144,340 with the average total cash compensation of $121,149.
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For a real-time salary target, tell us more about your role in the four categories below.

96167
128298

 

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Skills associated with Credit and Collections Manager: Accounts Receivable, Credit and Collections Software, Negotiation, Compliance Audit ...More

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Jobs with a similar salary range to Credit and Collections Manager : Senior Credit Manager

Credit and Collections Manager Salary in United States
Credit and Collections Manager Salary Graph, Regional Distribution and Summary