Unemployed in New York City? Consider Debt Collection

If you are a young worker trying to make it work in New York City and you don’t have a degree, perhaps you should look to become a debt collector, one of the growth industries for high school graduates according to a recent report from think tank Center for an Urban Future.

The report noted that “bill and account collector” positions have low barriers to entry for workers, including nearly non-existent college degree or other post-high school educational requirements. And in New York City alone, they project about 200 positions per year coming open.

The report cited Eric Najork, president of the Collectors Association of New York State, as noting the weak economy has meant that more New Yorkers are falling behind in their bills, which, he says, is “absolutely” leading to substantial employment growth in the ARM industry.

Najork also confirmed the low educational requirements of the debt collection industry front line. “Some get a GED barely by the skin of their teeth,” he said in the report. “You need to be somewhat computer savvy, but that can be taught. The hardest part is being well-spoken and motivated to make quite a lot of calls and face constant rejection.”

With a median starting salary in NYC of $29,000 and the potential to earn much more with commissions and bonuses, the report concludes that debt collection is a good profession for many who want to work in an office environment. And because the job also has flexible work hours, it is a more attractive option to many workers and can be a good option for students and parents.

Read the full report from the Center for an Urban Future.