Loan Collector Salaries in Michigan
How Much Does a Loan Collector Make in Michigan?
Updated March 01, 2025
As of March 01, 2025,
the average annual pay of Loan Collector in Michigan is $44,546.
While Salary.com is seeing that Loan Collector salary in MI can go up to $52,068
or down to $37,129, but most earn between $40,664 and $48,483.
Salary ranges can vary widely depending on many important factors,
including education, certifications, additional skills, and your experience levels.
With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Related Job Titles to Loan Collector
Facing Salary Structure Challenges? Let Our Expert Guide You
The job market is increasingly challenging. Our whitepaper, Navigating the Challenges of Creating Salary Structures, offers guidance on creating salary structures. Provide your phone number and work email to download the full version.
We will handle your contact details in line with our Privacy Policy.
If you prefer not to receive marketing emails from Salary.com, you can opt-out out of marketing communications at any time by clicking unsubscribe.
Choose a prefer time
Choose Your Preferred Time
All times are listed as US Eastern time (Boston/New York)
-
9:00 AM-9:30 AM
-
9:30 AM-10:00 AM
-
10:00 AM-10:30 AM
-
10:30 AM-11:00 AM
-
11:00 AM-11:30 AM
-
11:30 AM-12:00 PM
-
12:00 PM-12:30 PM
-
12:30 PM-1:00 PM
-
1:00 PM-1:30 PM
-
1:30 PM-2:00 PM
-
2:00 PM-2:30 PM
-
2:30 PM-3:00 PM
-
3:00 PM-3:30 PM
-
3:30 PM-4:00 PM
-
4:00 PM-4:30 PM
-
4:30 PM-5:00 PM
-
5:00 PM-5:30 PM
-
5:30 PM-6:00 PM
-
6:00 PM-6:30 PM
-
6:30 PM-7:00 PM
-
7:00 PM-7:30 PM
-
7:30 PM-8:00 PM
Similar Job Salaries to Loan Collector by Company
Loading results...
| Company | average base salary in (usd) | range |
|---|---|---|
|
Vibe Credit Union
Collector
|
$57,303/yr
|
RANGE: $50,369 - $64,236
|
|
Master Finance
Debt Collector / Loan Processor
|
$57,117/yr
|
RANGE: $49,284 - $64,949
|
|
SchoolsFirst Federal Credit Union
Loan Adjuster II (Collector)
|
$70,147/yr
|
RANGE: $60,845 - $79,449
|
|
LabX Diagnostic Systems
Phlebotomist/ Collector
|
$51,956/yr
|
RANGE: $44,421 - $59,491
|
|
Labcorp
Medical Collector
|
$59,188/yr
|
RANGE: $50,736 - $67,639
|
|
IPB Holding LLC
Phlebotomist/ Collector
|
$53,963/yr
|
RANGE: $46,137 - $61,789
|
|
Labcorp
Specimen Collector
|
$58,663/yr
|
RANGE: $50,143 - $67,182
|
Top 10 Highest Paying Cities For Loan Collector Jobs in Michigan
It is important to understand how location impacts your career prospects in the United States.
There are some cities where a Loan Collector can find a job easily with a greater salary paid then achieve a higher standard of living.
Below is the top cities list for Loan Collector job salaries in Michigan.
Some cities can pay higher salaries for Loan Collector jobs, which can indicate that there is a large demand for Loan Collector positions in this city.
The following table shows top 10 cities where the Loan Collector salary is higher than other cities in Michigan.
Ann Arbor takes first place in this list, followed by Canton, Novi.
The Loan Collector salary is $46,306 in Ann Arbor,
which is higher than the national average. There are 18 cities' Loan Collector salary higher than national average in Michigan.
The average salary for a Loan Collector in Michigan is $44,546,
but we found that the city with the highest salary for Loan Collector jobs is Ann Arbor, MI, and it is higher than Canton.
Loan Collector jobs in Ann Arbor can have the opportunity to earn higher salaries than in other cities in Michigan.
| CITY | ANNUAL SALARY | MONTHLY PAY | WEEKLY PAY | HOURLY WAGE |
| Ann Arbor | $46,306 | $3,859 | $891 | $22 |
| Canton | $46,216 | $3,851 | $889 | $22 |
| Novi | $46,080 | $3,840 | $886 | $22 |
| Westland | $45,719 | $3,810 | $879 | $22 |
| West Bloomfield | $45,539 | $3,795 | $876 | $22 |
| Detroit | $45,494 | $3,791 | $875 | $22 |
| Warren | $45,494 | $3,791 | $875 | $22 |
| Dearborn | $45,494 | $3,791 | $875 | $22 |
| Waterford | $45,494 | $3,791 | $875 | $22 |
| Dearborn Heights | $45,449 | $3,787 | $874 | $22 |
What Does a Loan Collector Do?
A 34-year-old thrift collector, Ebere Mbonu, was brought on Friday before a Yaba chief magistrates’ court in Lagos for allegedly impersonating 18 contributors, using their cards to obtain N1.7m loan without their consent.
Updated December 02, 2021
The collector can't add on any extra fees or interest that your original credit or loan agreement doesn't allow.
Updated November 14, 2021
Sometimes, a collector will provide meaningful information, such as a loan or credit agreement, or a loan history, in response to a verification request, but not always.
Updated October 29, 2021
You also can sell the note to a debt collector, meaning they own the loan and collect the full amount (this is similar to what happens when banks sell loans to each other).
Updated October 10, 2021
If you are thinking of becoming a Loan Collector or planning the next step in your career, find details about.
Updated September 24, 2021
Empower Your Talent Strategy with Salary.com's Skills Library.
Struggling with Managing Your Job Descriptions?
View Job Skills and Competency Data for more than 15,000 Job Titles, 18 Industries, and 26 Job Families.
Skills LibraryOur job description management tool- JobArchitect streamlines your job description process. Say goodbye to the hassle of crafting job descriptions.
Explore JobArchitectFrequently Asked Questions About a Loan Collector Salaries
What is the average of a Loan Collector in Michigan?
The Loan Collector salary range is from $40,664 to $48,483, and the average Loan Collector salary is $44,546/year in Michigan.
The Loan Collector's salary will change in different locations.
Which location pays the highest Loan Collector salary in the United States?
The Loan Collector salary in San Jose, CA is $56,641
which is the highest in the US.
What kinds of reasons will influence the Loan Collector's salary?
Besides the location, employees' education degree, related skills, and work experience also will influence the salary.
Try to improve your skills and experience to get a higher salary for the position of Loan Collector.
What is the growth rate of the Loan Collector's salary?
If you are thinking of becoming a Loan Collector or planning the next step in your career, find the detailed salary report of a Loan Collector.
