Debt Collector Wages On The Rise In US While They Stay Constant In The Caribbean

According to a recent article by Forbes https://www.forbes.com/sites/andrewdepietro/2019/01/15/debt-collectors-income-state/#602d6ca74b50 the median wage for debt collectors has risen it now is as high as $23 hourly and as low as $17 hourly in some states. That leaves your total cost per production seat in the US at $25-$33 hurly. That would include all the other costs of the business over the collectors wage. To calculate your cost per set go here www.lighthouseconsultinginc.com/cps . 

The wages in Jamaica have stayed constant at round $4-6 USD per hour for a seasoned debt collection agent including his bonus plan. And Companies like mine rent seats at a total cost of $8-12 USD per hour which is one third the cost in the US. In addition the skills in Jamaica and like places is as good or many times better than the current staff in the US and Canada. 

As a consultant to the debt collection industry for the last 20 years I can tell you that if your wages are $18-20 hourly with bonuses then your overall cost per seat is about $35-$37 hourly. That is why I have been helping agencies and eat buyers open their won shop in Jamaica for just $10 hourly including everything form the staff to the computer, internet and physical security. 

While the debt collector wages are on the rise in the Us and quality is down the quality of staff in Jamaica is getting better yearly. The educational system is designed to get graduates into the work force and the work force has 2 main sectors the hospitality industry and the BPO sector. These are number 1 and number 2 on the island in terms of employees and also in terms of revenues. Everything on this island is designed to feed these two industries, without them the islands economy would be nil. 

The staff are willing to work hard and want their employer to succeed. They have the skills to do technical support, legal support, customer service, sales and of course debt collection.  They are very eager to learn unlike their US counterparts. They are supportive of their peers and respectful to the other staff. Over all they make great workers debt collections. 

If you are interested in how to open your own shop in Jamaica give me a call at 904-347-5901

Phillip W. Duff 

CEO

Lighthouse Consulting Jamaica 🇯🇲



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