Collection Agent Jobs in the United States

Collection Agent Jobs Overview

As a collection agent, you work in an office setting to obtain debt payments on behalf of creditors. Collection agent jobs require you to be an effective communicator and aware of all relevant regulations.

Empathy and diligence are excellent qualities of a successful debt collector. You’ll need to apply these when you undertake common duties, such as:

• contacting debtors
• setting up payment plans
• negotiating debt settlements
• collecting debt payments
• maintaining records with credit reporting agencies

Collection Agent Salary Information

The national median salary for collection agents and specialists is $44,250 a year, falling in a range of $31,960 to $62,360. These are often full-time positions with benefits.

Collection agent jobs are available nationwide. You'll find high demand in:

• Houston, TX
• Phoenix, AZ
• Dallas, TX
• Jacksonville, FL
• Los Angeles, CA

Use our Monster salary calculator to learn about collection agent earnings in your area. Discover top job opportunities and see how much real employers are willing to pay.

How to Find the Job That Fits You

Many collection agent employers are third-party providers that work on behalf of creditors or with banks. However, some companies have in-house collection agent jobs. Identifying the type of employer that you prefer working for is essential as you search for a job.

Work Life

Generally, collection agents work traditional business hours although evening and weekend hours may be required with some positions. Research potential employers to identify a work schedule that aligns with your preferred work-life balance.

Job Requirements

While the responsibilities across most collection agent jobs are comparable, there may be differences between various openings. Carefully read the job description and determine if you are properly qualified for a position before applying. If necessary, explore how you can enhance your qualifications, such as your knowledge of specific debt collection software.

Aligned Employers

In addition to researching the job itself, learn more about the culture, values, and mission of the company. Look at the company’s website as well as reviews from current and previous employees to explore key factors like its reputation in the industry and with its customers, management styles, and the work environment.

Growth Opportunities

Within a company, there may be opportunities to advance. More advanced positions in collections are related to team, office, and account management.

Also, consider the skills you will gain from the job that can apply to your planned career growth. For example, the negotiation skills that you fine-tune as a collection agent can be advantageous in a sales position in the future.

How to Apply for a Collection Agent Job

Before applying to a position that interests you, identify and follow any specific application instructions the employer provides. For example, you might be asked to add your salary expectations to your cover letter. You should also pay special attention to skills and experience with technology and software mentioned in the job description along with education and prior work experience.

Fine-Tune Your Resume

Before applying for a position as a collection agent, craft your resume to suit the employer’s expectations and needs. For example, identify keywords in the job description that the employer is looking for. Incorporate the keywords that are relevant to your background into your resume.

Keywords may focus on industry terminology, skills or duties, and technology. Some of the keywords commonly used in collection agent job listings are:

• payment plans
• debt
• collection strategies
• customer service
• recovery
• payment processing

Format your resume with your most relevant skills, experience, and education listed first. You can even take advantage of Monster’s Professional Resume Writing Service to put your best foot forward with a resume created for you.

Prepare Your Cover Letter

A cover letter should accompany your professional resume for collection agent jobs. It allows you to stand out from other applicants and showcase your strengths and interest in the position. The core elements of a cover letter are:

1. greeting – addressing the hiring manager or other contact
2. opening – expressing your strengths and interest in the specific position
3. hook – identifying your past collection agent jobs and highlighting experiences that apply to the position
4. skills – highlighting skills and training that are applicable, such as customer service, phone skills, and negotiation skills
5. close – recapping your strengths and your contact information

This is your opportunity to detail the relevant impact you have had in your previous collection agent positions. Rather than repeat the information on your resume, highlight exactly why you are the best candidate for the job. For example, you may have consistently hit your targets for six straight months or improved daily reporting procedures.

Submit Your Application

If you don't have a Monster account yet, sign up for free before submitting your application. Upload a copy of your resume and submit it for a free resume review. Plus, we’ll send new job alerts straight to your inbox.

Before uploading your resume, proofread it along with your cover letter. Specifically, look for typos, inaccuracies, and consistency. Use a grammar and spell checker, and ask a friend to review your documents as well.

Follow Up with the Employer

After formally applying for a job, the waiting game begins. However, after about a week, you can strategically follow up with the employer to get their attention and ask for an update on the process.

How to Follow Up

There are several effective strategies for following up after applying for a new position. A letter or email follow-up is a professional approach well-suited to collection agent jobs. It allows you to demonstrate your tactfulness and ability to communicate effectively and persuasively.

Other methods to consider when following up on a job application are via professional social media and by phone. Ensure that your social media profile is appropriate for a potential employer to look at before taking this step. Regardless of how you choose to follow up, this is an opportunity for you to stand out from other applicants.

Start your follow-up by reminding the employer who you are and reiterating your interest in the position. Include the position that you applied for and the date you sent your initial application. It's also acceptable to inquire about what stage the employer is at in the hiring process for this position.

Who to Follow Up With

In most cases, the job listing provides contact details for the person in charge of the hiring process. If the listing doesn't have contact information for a specific person, do some research.

Many companies post an HR link or provide contact information on their website. If you can't find this, call the company’s main phone number to request the information.

Interviewing Tips

Landing a job interview is exciting, but it's also a time to get serious about the upcoming event. So, how can you best prepare for your interview?

Preparing for the Interview

Your prep work for a collection agent job interview begins by studying the employer. Learn as much as possible about the company’s standards, mission, and work environment. Use the employer’s website, social media profiles, and even third-party sources to get as much information as possible.

Some collection agent jobs are in small offices while others are in large call centers. Some are 100% in-office, and others are hybrid or remote. Prepare to answer a question or two about how well you work in the specific environment and why.

Study how to properly answer common interview questions. Remember that the interview is a two-way process, so be prepared to ask the interviewer questions of your own as well.

Some examples of interview questions related to collection agent jobs include:

• What collection methods do you have experience with?
• What are some of the ways you would attempt to reach a debtor who isn't easy to contact?
• How do you handle a debtor who is using offensive language or yelling at you?
• What do you do to ensure you stay on track to achieve your targets?

Examples of questions that you may have for the interviewer include:

• What technology or software do I need to know to succeed in this role?
• Are there opportunities for growth and advancement?
• What performance goals are expected of me?

The Interview Process

In many cases, you will first have a short interview with a hiring manager. If you pass through that round, you may be asked to come back for a second and even third interview.

These interviews are often with the professionals you will report to if you get the job. You could be asked to take a few tests during the first interview or before you arrive. These could include personality, behavioral, and competency tests.

For some employers, the entire interview process may be completed in one day. This can take several hours.

During the interview, express yourself confidently and in a friendly and professional manner. Show your knowledge of the position as well as of the company. It’s important to showcase your professional experience with real-life examples when answering questions.

Follow Up on Your Collection Agent Interview

Within 24 hours of each interview, send a follow-up email. Thank the interviewer for their time and consideration and express your strong interest in the position.

Some candidates will immediately get a response. Others may not hear back for several days. If you haven't received a response in a week, send another follow-up email.

What to Do When You Get a Job Offer

If you receive a job offer for a collection agent position, you should respond promptly to thank the employer. Express your desire to review the offer and set an expectation for when the employer will receive your response.

Carefully read through the offer and job duties. Ensure that you can handle all tasks and compare the salary to the market standard. If you have questions about duties, compensation, or other relevant details, inquire via email or phone.

Some job offers may fall below your expectations for compensation or benefits. Many employers are open to negotiating with qualified candidates. However, setting specific and reasonable terms before reaching out is important.

Remember to consider opportunities for advancement and the associated value. Present your research to the employer to support your request for a larger compensation package.

Career Paths

Collection agents often start working on collecting small balances for a bank or agency. As you gain skills, expand your qualifications, and network, you may have opportunities to move into management within the same company. You may venture into other financial industry roles, including as a financial analyst, a loan officer, or an insurance salesperson.

Be proactive about steering your career in your desired direction. For example, obtain a more advanced degree and certifications during your non-working hours if these are needed for you to step into an interesting position.

Based on your goals, consider furthering your education with a degree in communication, accounting, or business. Certifications will also make you more attractive to hiring managers. The top certifications for collection agents include:

• Credit and Collection Compliance Officer (CCCO), offered by ACA International
• Certified Credit and Collection Professional (CCCP), offered by the National Association of Credit Management
• Certified Collection Professional (CCP), offered by the International Association of Credit and Collection Professionals

Similar Occupations

Take a look at job openings for the following related professions:

• debt collector
• collections analyst
• collections manager