Q: Can account managers make a lot of money?

Yes, account managers make a lot of money. The average base salary for an account manager is $54,126 per year. However, many account managers earn cash bonuses (upwards of $12,000 a year) and commissions (upwards of $15,000 per year).

Question 1

Account Manager vs. Project Manager

Accepted Answer

An account manager deals with one or more customer accounts on a long-term basis and is focused on the requirements of their customers and customer satisfaction, while a project manager is responsible for the day-to-day management of a project and is defined by the scope of that project.

Question 2

How long does it take to become an Account Manager?

Accepted Answer

It takes 5 years of professional experience to become an account manager. That is the time it takes to learn specific account manager skills, but does not account for time spent in formal education. If you include the normal education requirements to complete a college degree, then it takes 8 to 10 years years to become an account manager.

Question 3

How do I get to become an account manager?

Accepted Answer

To become an account manager requires at least a high school diploma, certifications, and on-the-job training.

Educational Requirements
Degree requirements for account managers vary depending on the field, while experience in your industry is what counts to advance as an account manager.
Many account managers have bachelor's degrees in business administration with a minor in marketing. In fact, nearly 70% of account managers hold a bachelor's degree, and 5% have an associate's degree.
Conversely, almost 20% of account managers have just a high school diploma. So, educational credentials play an important role in getting a position as an account manager, but it is not always required.
There are many online certifications and account management programs to choose from for those aspiring to become account managers. There are many advantages for potential account managers to earn certifications related to account management.
Having certifications provides an account manager with a greater theoretical insight into the main elements of account management and tools to improve your business skills. Certifications can also advance an account manager's career by enabling them to be trusted with key accounts.
Common Qualifications for Account Managers:
- Certified Sales Professional (CSP) (highly recommend)
- Certified Management Accountant (CMA) (highly recommend)
Additional Specialization certifications depending on what industry you are interested in working for:
- Property & Casualty License
- Driver's License
- Life Insurance License
- Class E
- Certified Scrum Master
- Real Estate Broker
- Guard Card
- Certified Employee Benefit Specialist
- Insurance Producer License
- PMP
- FINRA License
- Pesticide Applicator's License
On-The-Job Experience
Many companies prefer candidates with some experience in lower-level sales or marketing roles. Previous jobs or internships that involve direct customer interaction can prepare a candidate for a successful career as an account manager.
On-the-job training opportunities can be obtained for similar lower-level roles, such as assistant account manager or junior account executive. Many companies will train future account managers in the most critical job aspects, like ensuring existing customers are satisfied and finding new clients.
Once you have the educational background and job experience, the next step is to get an entry-level position as an account manager.

Question 4

What degree do you need to be an account manager?

Accepted Answer

To become an account manager requires a minimum of a high school diploma or GED equivalent. However, many account managers have a bachelor's degree in business administration, sales, or another relevant field. In fact, almost 70% of account managers have a bachelor's degree.

Question 5

What is the career path for an account manager?

Accepted Answer

The career path for an account manager involves jobs as an account manager, strategic account manager, and principal account manager. There are many entry-level, mid-level, and senior-level account manager positions on this career path.

Question 6

Account Executive vs. Account Manager

Accepted Answer

An account executive is responsible for finding and signing new clients to the company, while the account manager is responsible for ensuring client satisfaction after they have signed the sales contract.

Question 7

Senior Account Manager vs. Account Manager

Accepted Answer

A senior account manager is a high-ranking professional that serves as a link between their employer and the specific customer accounts they have been assigned to handle, while an account manager performs this same function in a junior capacity.

Question 8

What is a good starting salary for an Account Manager?

Accepted Answer

A good starting salary for an account manager is $45,000 in the United States. That puts you in the 10th percentile of annual income for an account manager in the U.S., which is about what you would expect if you were new to the field. The average salary for account managers is $72,192, but that normally requires some level of experience to achieve. Furthermore, a good starting salary for an account manager can vary by state.

Question 9

Can account managers make a lot of money?

Accepted Answer

Yes, account managers make a lot of money. The average base salary for an account manager is $54,126 per year. However, many account managers earn cash bonuses (upwards of $12,000 a year) and commissions (upwards of $15,000 per year).

Question 10

How much do entry level account managers make?

Accepted Answer

Entry-level account managers make $44,471 per year, on average. This can range from. Overall, several factors impact how much an account manager can earn, including location and type of IT position.

Question 11

How much does an account manager make?

Accepted Answer

Factors such as type of account manager, location, and years of experience impact how much an accounts manager can make.

Industry and Pay Rates for Account Manager.

Manufacturing averages $80,544 per year
Health Care averages $74,441 per year
Technology averages $73,377 per year
Transportation averages $66,998 per year
Finance averages $66,310 per year
Retail averages $66,015 per year

Question 12

Can an account manager make 100k?

Accepted Answer

Yes, you can make $100,000 per year as an account manager. The chances of earning over $100k for an account manager are actually pretty good because the highest-paid account manager positions typically pay at least $113,000 per year. The average annual salary is $72,192 for account manager jobs. For example, account managers in Washington whose salaries are in the 90th percentile earn an average salary of $140,000.

Question 13

Do account managers get paid well?

Accepted Answer

Yes, account managers get paid well. The average sales account manager salary is $74,139 per year ($35.64 per hour). Those in the lower 10% of account manager positions only make about $47,000 a year, while the top 10% average a whopping salary of $114,000 a year.

Question 14

Is account manager a stressful job?

Accepted Answer

Yes, being an account manager is a stressful job. In fact, being an account manager was ranked as the second most stressful job, with 73 percent of respondents rating the role as "highly stressful."

Question 15

Is being an account manager a good job?

Accepted Answer

Yes, being an account manager is a good job. Account managers can work in a range of industries, are paid well, have many opportunities for job growth, and the need for account managers is expected to grow in the coming years.

Question 16

What does an entry-level account manager do?

Accepted Answer

Entry-level account managers create relationships, work under executives, and prepare sales reports.Before working as an entry-level account manager, most people will need to earn at least a bachelor's degree, and may even hold an MBA. Experience in the field is also crucial to succeeding in this job.

Frequently asked questions about account managers

Questions about becoming an account manager