Collections Specialist Salary in 2026
Contact debtors to arrange payment of overdue accounts and negotiate settlements.
Median Salary
$42,000
$3,500/mo
Entry Level
$32,000
starting pay
Senior Level
$55,000
experienced
Job Growth
+1%
10-yr outlook
Collections Specialist Overview
Contact debtors to arrange payment of overdue accounts and negotiate settlements.
Education
High School/Associate's
Experience
0-1 years
Industry
Finance
Total Jobs (US)
320K
5-Year Growth
+6%
Category
Finance
Hourly Rate
$20.19/hr
Monthly Pay
$3,500
Collections Specialist Salary Calculator
Adjust your state and experience level to see the estimated Collections Specialist salary in your area.
Mid Career (5-9 yrs)
Estimated Collections Specialist Salary
$47,000
$3,917/month · $1,808/biweekly · $22.60/hr
Collections Specialist Salary Range
Salary distribution from entry-level to top earners in the Collections Specialist field.
Entry-level Collections Specialists earn around $32,000, while the top 10% earn $60,000 or more.
Top Paying States for Collections Specialists
| State | Est. Median Salary | vs National |
|---|---|---|
| California | $50,000 | +$8,000 |
| New York | $48,000 | +$6,000 |
| Illinois | $44,000 | +$2,000 |
| Texas | $41,000 | $-1,000 |
| Florida | $41,000 | $-1,000 |
Top Paying Cities for Collections Specialists
| City | Est. Median Salary | vs National |
|---|---|---|
| New York | $50,000 | +$8,000 |
| Los Angeles | $47,000 | +$5,000 |
| Chicago | $44,000 | +$2,000 |
| Miami | $43,000 | +$1,000 |
| Houston | $42,000 | $0 |
Required Skills & Certifications
Key Skills
Certifications
Collections Specialist Career Progression
Typical salary growth path for a Collections Specialist from entry level to expert.
$32,000
0-2 years
$44,000
3-7 years
$55,000
8-14 years
$65,000
15+ years
Related Finance Jobs
Collections Specialist Salary FAQ
Methodology & Data Sources — Collections Specialist Salary
How we calculate Collections Specialist salary data: Our figures combine BLS Occupational Employment and Wage Statistics (OEWS) for the national salary baseline, adjusted by cost-of-living multipliers from the C2ER Cost of Living Index. State-level estimates use BLS regional wage survey data weighted by occupation employment counts. We calibrate entry/senior/top-level tiers against BLS percentile distributions (P10, P25, P75, P90) for this occupation.
- National median salary: $42,000 — sourced from BLS OEWS for SOC code corresponding to Collections Specialist in the Finance sector.
- Entry-level ($32,000) and senior-level ($55,000) figures reflect BLS P25 and P75 percentile wage estimates adjusted for experience.
- Job outlook: +1% projected growth through 2034, from BLS Employment Projections program. Approximately 320K total positions nationwide.
- 5-year salary growth: 6% over the past 5 years, derived from BLS Employment Cost Index for Finance sector wages.
- Education requirement: High School/Associate's, per BLS Occupational Outlook Handbook entry for this occupation.
- State-level estimates use BLS regional CPI-U data and OEWS metropolitan area wage surveys, normalized to the national median of $42,000.
Authoritative US data sources for Collections Specialist compensation:
- BLS Occupational Employment and Wage Statistics (OEWS) — national and metro-area salary data
- BLS Occupational Outlook Handbook — Collections Specialist job projections, education, and career outlook
- BLS Employment Projections — 10-year occupation growth and decline data
- BLS Employment Cost Index — quarterly compensation trend data for Finance
- BLS Consumer Price Index (CPI-U) — regional inflation for cost-of-living wage adjustments
- IRS Revenue Procedure 2025-32 summary — 2026 federal tax brackets and standard deductions
Disclaimer: Collections Specialist salary figures are statistical estimates for general guidance. Actual compensation depends on employer, location, negotiation, specific skills (Negotiation, Skip Tracing, FDCPA Compliance), certifications, and industry conditions. Always verify with multiple sources including current job listings, recruiter data, and direct employer offers before making career decisions.
Reviewed by Brazora Monk · Last updated 2026 · BLS data current as of latest OEWS annual release
Explore More Job Salaries
Compare salary data for hundreds of jobs across all industries. Find out what you should be earning.