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The differences between business bankers and business relationship managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a business banker, becoming a business relationship manager takes usually requires 6-8 years. Additionally, a business relationship manager has an average salary of $87,741, which is higher than the $69,423 average annual salary of a business banker.
The top three skills for a business banker include customer service, financial products and financial services. The most important skills for a business relationship manager are customer service, relationship management, and cash management.
| Business Banker | Business Relationship Manager | |
| Yearly salary | $69,423 | $87,741 |
| Hourly rate | $33.38 | $42.18 |
| Growth rate | 10% | 17% |
| Number of jobs | 70,054 | 114,003 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 75% |
| Average age | 43 | 46 |
| Years of experience | 4 | 8 |
A business banker is an individual who collaborates with other bank coworkers to help business customers meet their specific banking needs. Business bankers must sell a variety of banking products and services such as business deposit accounts, treasury management, and business credit cards. They are required to maintain consistent communication with their clients through outbound calls and personal onsite visits. Business bankers must also devise and modify loan schemes depending on the market requirements as well as study the schemes offered by competitors.
A business relationship manager is primarily responsible for improving the relationship between customers and businesses. Typically, it is their responsibility to develop strategies and business plans to strengthen client relationships, address issues and concerns, and perform corrective measures when necessary. There are instances when they have to reach out to clients through calls and correspondence, perform follow-up contacts to offer new services and opportunities, and provide industry advice or consultation. Furthermore, as a manager, it is essential to lead and encourage staff in the joint effort to reach target sales and improve client base.
Business bankers and business relationship managers have different pay scales, as shown below.
| Business Banker | Business Relationship Manager | |
| Average salary | $69,423 | $87,741 |
| Salary range | Between $39,000 And $121,000 | Between $61,000 And $125,000 |
| Highest paying City | - | San Francisco, CA |
| Highest paying state | - | New Jersey |
| Best paying company | - | AstraZeneca |
| Best paying industry | - | Technology |
There are a few differences between a business banker and a business relationship manager in terms of educational background:
| Business Banker | Business Relationship Manager | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business bankers' and business relationship managers' demographics:
| Business Banker | Business Relationship Manager | |
| Average age | 43 | 46 |
| Gender ratio | Male, 63.3% Female, 36.7% | Male, 64.6% Female, 35.4% |
| Race ratio | Black or African American, 5.4% Unknown, 4.1% Hispanic or Latino, 11.1% Asian, 12.1% White, 67.1% American Indian and Alaska Native, 0.2% | Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 63.9% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 6% | 11% |