Billing and Collections Analyst II Salary in the United States

FAQ about Billing and Collections Analyst II

1. What industry pays the highest salary for Billing and Collections Analyst II?

The Pharmaceuticals industry offers the highest average compensation for Billing and Collections Analyst II roles, with salaries approximately 40% above the market median.

2. Is collections a stressful job?

Collections can indeed be a high-pressure job. You're often chasing payments and navigating challenging situations, which can lead to stress and impact mental health. However, the role of a Billing and Collections Analyst offers a salary range from $53,190 to $71,890, which can provide financial stability amidst the pressures of the job.

3. Do you need a degree to be a billing analyst?

While a degree is not always mandatory for a billing analyst position, many employers prefer candidates with a bachelor's degree in business or accounting. Relevant work experience in financial analysis, billing, invoicing, or collections can also be valuable. The salary for this role typically ranges from $53,190 to $71,890, with a midpoint of $62,290.

4. What does a collections analyst do?

A collections analyst is responsible for managing billing accounts and ensuring that individuals with outstanding debts make their payments. The salary for this role typically ranges from $53,190 to $71,890, with a midpoint of $62,290, reflecting the importance of effective debt recovery in maintaining financial health.

5. Why do I want to work in collections?

I want to work in collections because it allows me to assist both businesses and consumers. By helping businesses recover owed funds, I contribute to their financial health. Simultaneously, I can support consumers in navigating challenging situations. With a salary range of $53,190 to $71,890, this role offers a rewarding career both financially and personally.

6. Do you need a degree to be a collections specialist?

An aspiring Collections Specialist should have some background in finance, though a formal degree beyond a high school diploma is not necessary. Two to three years of previous experience with a collections agency or similar work is preferred. Basic computer proficiency is a must, especially with Microsoft Office tools. The salary for this role typically ranges from $53,190 to $71,890, with a midpoint of $62,290.

7. How much do billing analysts make in the US?

As of January 2025, Billing and Collections Analysts in the United States earn between $53,190 and $71,890 annually, with a median salary of $62,290. This translates to approximately $25.57 to $34.56 per hour, or $1,024 to $1,384 per week, and $4,433 to $5,983 per month, depending on experience and location.