Collector Salary in India 2024

Collectors in India are highly respected professionals who play a crucial role in the financial sector of the Indian Economy. They are responsible for managing and collecting outstanding debts, ensuring that businesses and individuals fulfill their financial obligations. Their expertise in debt collection and negotiation makes them valuable assets for every Sector (Private or Government).

Collector Salary

The Average Salary of a Collector in India is ₹0.8 Lakh per year. The salary of a collector with less than 1 year of experience is ₹ 0.8 Lakhs and it goes up to ₹ 7.9 Lakhs with years of experience. These collectors are highly responsible individuals and are trustworthy with a wide range of duties, including revenue collection, maintaining law and order, and ensuring the welfare of the district’s residents.

In this article, we cover all the important factors for determining the Salary of Collectors in India 2024.

Collector Salary in India: Highlights

Here are the highlights for the Collector Salary in India with all the details and particular as follows:

Factor	Average Salary Range (INR)
Freshers	₹0.8 lakh to ₹1.5 lakh per annum
Experience (1 – 3 yr)	₹1.8 lakh to ₹7.9 lakh per annum
Experienced Collectors (Above 5 year)	Above ₹7.9 lakh per annum
Organization	Government: Entry-level: ₹ 20,000 – ₹ 25,000 Mid-level: ₹ 30,000 – ₹ 35,000 Senior-level: ₹ 40,000 – ₹ 45,000 Private organizations: Entry-level: ₹ 15,000 – ₹ 20,000 Mid-level: ₹ 25,000 – ₹ 30,000 Senior-level: ₹ 35,000 – ₹ 40,000
Geographical Location	Tier 1 City: ₹37,000 Tier 2 City: ₹28,000 Tier 3 City: ₹20,000
Additional Perks and Benefits	Accommodation allowance, travel allowance, medical benefits, leave encashment, pension plan

Collector Salary in India: Designation Wise

The Collectors are responsible for the administration or managing debt, communicating with debtors, and negotiating payment plans with them. They hold an immense importance of their role, collectors are compensated with competitive salaries that reflect their level of responsibility and the skills they bring to the job.

Here we have discussed all the salaries offered to the Collector in India.

Position	Average Annual Salary (INR)
Debt Collection Supervisor or Manager	₹300,000 – ₹800,000
Credit Analyst or Underwriter	₹350,000 – ₹700,000
Compliance Officer	₹400,000 – ₹750,000
Independent Debt Collection Consultant	Upwards of ₹1,000,000 (varies based on experience, reputation, and client base)

Collector Salary in India: Experience Wise

Here we have listed tabular data for the salary of Collector in India, it is as follows:

Experience	Average Collector Salary in India
1-2 Years	INR 2.7 LPA
2-3 Years	INR 3.0 LPA
3-4 Years	INR 3.2 LPA
4-5 Years	INR 3.9 LPA
5-6 Years	INR 4.0 LPA
6-7 Years	INR 5.6 LPA
7-8 Years	INR 6.6 LPA
8-9 Years	INR 7.8 LPA
> 10 Years	Above 8 LPA

Collector Salary in India: City Wise

Collector are required in each city and state, so listing their salaries in the basis of cities is an important factor to consider, here are the average salaries for the collectors for the top cities in India 2024:

City	Average Collector Salary (INR)
Bengaluru	INR 4.5 LPA
Pune	INR 3.5 – 7.0 LPA
Hyderabad	INR 1.8 – 2.3 LPA
Mumbai	INR 3.2 – 4.1 LPA
Delhi	INR 3.0 – 6.0 LPA
Chennai	INR 3.0 – 5.0 LPA
Kolkata	INR 2.5 – 4.5 LPA
Ahmedabad	INR 2.8 – 4.8 LPA
Jaipur	INR 2.2 – 4.2 LPA
Chandigarh	INR 2.4 – 4.4 LPA

Collector Salary in India: Qualifications Required

To become a collector in a reputable organization, whether government or private, in India, certain qualifications are required.

• Education Qualifications: You typically need a bachelor’s degree, preferably in finance, business, law, or a related field.
• Knowledge of Debt Collection Laws: You must be well-versed in the Consumer Protection Act, 2019, and the Insolvency and Bankruptcy Code, 2016.
• Effective Communication Skills: You should be able to communicate clearly and professionally with debtors, creditors, and legal authorities.
• Strong Negotiation Skills: You should be able to negotiate favorable repayment plans and settlements with debtors.
• Legal Background (Optional): A background in law can be helpful in navigating legal complexities and ensuring compliance.
• Ethical Conduct: You must be honest, fair, and respectful in your dealings with debtors.
• Persistence and Resilience: Debt collection can be challenging, and you need to be determined to succeed.
• Computer Literacy: You should be proficient in using debt collection software, CRM systems, and other relevant tools.
• Certification (Optional): Certification from recognized debt collection organizations can enhance your credibility.
• Registration with Regulatory Authorities (If Applicable): You may need to register with regulatory bodies or obtain licenses to operate legally.

Collector Salary in India: Company Wise

Here we have listed all the top and high paying companies in respect to the collector monthly salary INR:

Company	Average Collector Salary (Monthly)
Tata Consultancy Services (TCS)	₹34,000 – ₹37,000
Tata Capital	₹20,000 – ₹25,000
Bajaj Allianz Life Insurance	₹12,000 – ₹13,000
MPOWER Financing	₹8,000 – ₹9,000
KPMG	₹15,000 – ₹20,000
Deloitte	₹10,000 – ₹15,000
EY	₹12,000 – ₹17,000
PwC	₹11,000 – ₹16,000
Boston Consulting Group (BCG)	₹18,000 – ₹23,000
McKinsey & Company	₹20,000 – ₹25,000
Bain & Company	₹19,000 – ₹24,000

Collector Salary in India: Job Role & Responsibilities

These are the roles and responsibilities of a collector:

• Manage the closing of loans, collaborating with branch staff, lenders, and debtors to ensure smooth and efficient transactions.
• Lead and develop a team of collection associates, providing coaching, mentoring, and performance management to optimize collections efforts.
• Collaborate effectively with team members, lenders, and debtors to provide outstanding customer service and address financial concerns promptly.
• Actively participate in workgroups, staff meetings, and company initiatives to foster a collaborative and supportive work environment.
• Complete title commitment orders and review title reports with accuracy and attention to detail to safeguard property interests.
• Monitor account activity closely to ensure adherence to loan agreements, identifying and addressing potential issues proactively.
• Track credit concerns, overdue accounts, and incomplete files, prioritizing collections efforts for maximum impact.
• Prepare and manage all processing forms and documentation in compliance with legal and business standards, maintaining accurate records.
• Assist with documenting all collections processes and procedures, ensuring consistency and adherence to best practices.
• Develop and manage retrieval systems to enhance access to and utilization of collections data and associated information.
• Answer financial-related questions from internal and external contacts with expertise and professionalism.
• Participate actively in all phases of research and assessment, gathering and analyzing data to identify trends and potential issues.
• Make informed recommendations on loan foreclosure based on comprehensive research and analysis, considering financial implications and legal considerations.
• Assist with data auditing by identifying discrepancies, developing audit criteria, and evaluating data integrity.
• Monitor staff performance against defined metrics, providing feedback, coaching, and performance improvement plans as needed.
• Analyze data and conduct research from various sources to identify and address problems or concerns proactively.
• Maintain and disseminate product registration approval, discontinuation, and cancellation information accurately and timely.

Conclusion

Overall, the job of a collector in India offers a combination of financial rewards, prestige, power, and the opportunity to make a meaningful difference in society. It is a challenging yet rewarding career path that attracts some of the brightest and most talented individuals in the country.

Collector Salary in India – FAQs

What is salary of Collector of India per month?

Based on data from various sources, the average yearly salary for a Collector in India is INR 4.1 lakhs (equivalent to INR 34.2k per month).

What is the highest salary of Collector in India?

For the year, the highest collector salary will be around Rs. 8.1 Lakhs on average.

What is the salary of PM of India?

The Prime Minister of India salary is 19,20,000 INR annually. So the monthly salary of Prime Minister of India will be 1,60,000 INR.

Which is best IAS or IPS?

IAS is considered the topmost position among all the administrative services. IPS is in the second rank after IAS.