When you hear the word “collections”, you probably shudder a little bit. Debt is a huge stressor for Americans. It only makes sense that if you are thinking about making a career change that a collections role isn’t at the top of your list. While collections jobs come with a stigma, the reality is the collections or accounts receivable career track is an incredibly rewarding one.
Here are three reasons why you may actually love working in a collections role.
1. Entry-Level Actually Means Entry-Level
Unlike some career tracks, in most Collections roles, entry-level means, “no experience required”. Hiring managers are happy to train job seekers with no experience, specific credentials, or college education. It’s a great way to get your foot in the door and gain corporate office experience. And the best part? Because these companies have been doing this for a while, training is usually very supportive and comprehensive.
While, of course, previous customer service experience is always helpful, all you need to be successful is the will to be successful. Your trainer will take care of the rest! Collections jobs are a great option if you are looking to gain experience or are just getting started in your career.
2. The Pay is Often Competitive
Most collections companies will offer bonuses or commissions on top of a competitive market salary to their employees. Collection agents can earn up to $45,000 a year depending on experience and success. I recently spoke with a job seeker who has worked in collections for over 10 years; she shared that in her previous role, between bonuses and salary, she made six figures last year! While I don’t think this is the norm, I share that to emphasize that the sky is the limit when it comes to the financial rewards of working a collections role.
3. It’s a Fulfilling Career
We all know what it feels like to have debt and feel lost on where to start paying it off. We also know what relief can come with building a repayment plan and finally paying off that debt. If you are passionate about helping others and making a difference in people’s lives, working in collections might be the job for you.
Collections Specialists are liaisons for those who are struggling financially. You’re not hounding them for payments as most people think. You get assigned a case, and you work with individuals and families to build a repayment plan that works for them. Financial management doesn’t come easy for some, and in a collections job, you get to teach people new skills and walk them through their repayment journey.
Think about the relief that a consumer must feel after they pay back their loan thanks to your help! The gratification you receive is unmeasurable and the best part is that you’re just doing your job! No schemes. No sales pitch. No aggressive tactics. Just collaborative solutions to help improve someone’s financial situation.
The Deal with Debt Collection
A collections career path is probably one of the most underrated career paths out there, and it’s because of the bad rap the role gets. Even if you’re not looking to make a life-long career out of collections, working the role is a great way to get your foot in the door and build your skills to become a successful professional. It’s a rewarding career with purpose and a competitive salary. If you’re someone who wants to make a difference in people’s lives, why not apply your passion and embark on the emotionally and financially rewarding career path that is collections!