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The differences between business development account managers and key account managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a business development account manager and a key account manager. Additionally, a key account manager has an average salary of $102,315, which is higher than the $99,209 average annual salary of a business development account manager.
The top three skills for a business development account manager include business development, customer service and customer relationships. The most important skills for a key account manager are account management, customer service, and patients.
| Business Development Account Manager | Key Account Manager | |
| Yearly salary | $99,209 | $102,315 |
| Hourly rate | $47.70 | $49.19 |
| Growth rate | 5% | 5% |
| Number of jobs | 222,573 | 160,992 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 78% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A business development account manager is in charge of developing strategies to identify new business and client opportunities, ensuring sales growth and customer satisfaction. They typically perform research and analysis to gather data, coordinate with analysts and experts, produce sales and progress reports, and maintain records of all transactions. Furthermore, a business development account manager must build positive relationships with clients and secure sales by reaching out to customers through calls, correspondence, or appointments. They may offer products and services, process payments, and handle inquiries or concerns.
A key account manager is primarily in charge of handling key clients that produce the most profit for a company or business, ensuring that they remain with them. They are mainly responsible for understanding their clients' needs and long-term goals, ensuring that the key clients get to receive all the necessary services and products in time, and promptly address and resolve any issues and concerns. Furthermore, a key account manager may prepare reports and proposals to team members, all while adhering to the company's policies and standards.
Business development account managers and key account managers have different pay scales, as shown below.
| Business Development Account Manager | Key Account Manager | |
| Average salary | $99,209 | $102,315 |
| Salary range | Between $57,000 And $170,000 | Between $75,000 And $138,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New Hampshire | Maine |
| Best paying company | Meta | Quidel |
| Best paying industry | - | Pharmaceutical |
There are a few differences between a business development account manager and a key account manager in terms of educational background:
| Business Development Account Manager | Key Account Manager | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 78% |
| Most common major | Business | Business |
| Most common college | University of Southern California | University of Southern California |
Here are the differences between business development account managers' and key account managers' demographics:
| Business Development Account Manager | Key Account Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 62.4% Female, 37.6% | Male, 68.1% Female, 31.9% |
| Race ratio | Black or African American, 3.2% Unknown, 4.4% Hispanic or Latino, 9.8% Asian, 4.1% White, 78.2% American Indian and Alaska Native, 0.2% | Black or African American, 3.2% Unknown, 4.4% Hispanic or Latino, 9.8% Asian, 4.1% White, 78.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 7% |