As of January 01, 2025, the average annual salary for a Payment Recovery Specialist in the United States is $56,646. According to Salary.com, salaries can range from a low of $42,649 to a high of $72,280, with most professionals earning between $49,320 and $64,829.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $64,829 | $5,402 | $1,247 | $31 |
| Average | $56,646 | $4,720 | $1,089 | $27 |
| 25th Percentile | $49,320 | $4,110 | $948 | $24 |
An entry-level Payment Recovery Specialist with less than 1 year of experience earns about $53,876. With 1-2 years of experience, the average salary increases to $54,094. For 2-4 years of experience, the pay typically rises to $54,962. Senior-level professionals with 5-8 years of experience earn around $56,265, and those with over 8 years of experience can expect an average of $58,934.
| Levels | Salary |
|---|---|
| Entry Level Payment Recovery Specialist | $53,876 |
| Intermediate Level Payment Recovery Specialist | $54,094 |
| Senior Level Payment Recovery Specialist | $54,962 |
| Specialist Level Payment Recovery Specialist | $56,265 |
| Expert Level Payment Recovery Specialist | $58,934 |
| Entry Level | 5% |
| Mid Level | 5% |
| Senior Level | 3% |
| Top Level | 1% |
| Experienced | 4% |
Salaries in the United States differ widely between states due to factors like cost of living, local economies, and industry presence.
What Am I Worth?
Salaries in the United States can vary greatly between cities due to factors like cost of living, local economies, and industry presence.
As of January 01, 2025, our research reveals a significant shift in Payment Recovery Specialist compensation over the past six years. For example, the median salary increased from $81,122 in 2023 to approximately $78,331 in 2024. (For a detailed analysis of Payment Recovery Specialist salary trends, click here.)
Key factors like location, experience, industry demand, and economic growth significantly influence salary variations, making them important to consider.
Salary.com job board provides millions of Payment Recovery Specialist information for you to search for. Click on search button below to see Payment Recovery Specialist job openings or enter a new job title here.
Here are companies hiring for Payment Recovery Specialist and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $56,646 | 70.2% | ||
| Bonus | $88 | 0.1% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $4,340 | 5.4% | ||
| 401K/403B | $2,780 | 3.4% | ||
| Disability | $908 | 1.1% | ||
| Healthcare | $6,371 | 7.9% | ||
| Pension | $2,383 | 3.0% | ||
| Time Off | $7,201 | 8.9% | ||
| Total Compensation | $80,716 | 100% | ||
| Degree Level | % of user with this level of education |
|---|---|
| High School | 48.6% |
| Associates | 16.2% |
| Bachelors | 30.5% |
| Masters | 2.9% |
| Doctorate | 1.9% |
What Am I Worth?
The average annual salary of Payment Recovery Specialist is $56,646. In case you are finding an easy salary calculator, the average hourly pay of Payment Recovery Specialist is $27; the average weekly pay of Payment Recovery Specialist is $1,089; the average monthly pay of Payment Recovery Specialist is $4,720.
A Payment Recovery Specialist's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Payment Recovery Specialist earns the most in San Jose, CA, where the annual salary of a Payment Recovery Specialist is $71,091.
The highest pay for Payment Recovery Specialist is $72,280.
The lowest pay for Payment Recovery Specialist is $42,649.
Payment Recovery Specialist is responsible for analysis of denied reimbursement claims. Ensures appropriate insurance coverage for compliance standards and revenue generation. Being a Payment Recovery Specialist monitors, evaluates, and reviews all cost reporting in support of claims. Coordinates with departments and insurance companies to correct errors as necessary. Additionally, Payment Recovery Specialist requires a bachelor's degree in area of specialty. Typically reports to a supervisor or manager. To be a Payment Recovery Specialist typically requires 4 to 7 years of related experience. Contributes to moderately complex aspects of a project. Work is generally independent and collaborative in nature.
Specify the abilities and skills that a person needs in order to carry out the specified job duties. 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.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Project Planning: Project planning is part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report progress within the project environment. Project planning can be done manually or by the use of project management software.
Accounting Systems: An accounting system is a system that is employed in a company to organize financial information. It can be either manual or computerized.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.
