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Business relationship manager vs asset manager

The differences between business relationship managers and asset 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 relationship manager and an asset manager. Additionally, a business relationship manager has an average salary of $87,741, which is higher than the $85,814 average annual salary of an asset manager.

The top three skills for a business relationship manager include customer service, relationship management and cash management. The most important skills for an asset manager are asset management, financial statements, and property management.

Business relationship manager vs asset manager overview

Business Relationship ManagerAsset Manager
Yearly salary$87,741$85,814
Hourly rate$42.18$41.26
Growth rate17%17%
Number of jobs114,00364,732
Job satisfaction--
Most common degreeBachelor's Degree, 75%Bachelor's Degree, 68%
Average age4646
Years of experience88

What does a business relationship manager do?

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.

What does an asset manager do?

An asset manager is responsible for advising clients with their investment preferences and financial goals based on their assets' quantity and value. Asset managers regularly meet with their clients regarding their asset management's progress, recommending more investment options and considering the clients' needs. They manage financial portfolios and prepare stock market reports and forecasts as needed. An asset manager must have a broad knowledge of the financial industry and investment processes, identifying profit opportunities for long-term investment objectives.

Business relationship manager vs asset manager salary

Business relationship managers and asset managers have different pay scales, as shown below.

Business Relationship ManagerAsset Manager
Average salary$87,741$85,814
Salary rangeBetween $61,000 And $125,000Between $59,000 And $123,000
Highest paying CitySan Francisco, CANew York, NY
Highest paying stateNew JerseyNew York
Best paying companyAstraZenecaDeutsche Bank
Best paying industryTechnologyFinance

Differences between business relationship manager and asset manager education

There are a few differences between a business relationship manager and an asset manager in terms of educational background:

Business Relationship ManagerAsset Manager
Most common degreeBachelor's Degree, 75%Bachelor's Degree, 68%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaStanford University

Business relationship manager vs asset manager demographics

Here are the differences between business relationship managers' and asset managers' demographics:

Business Relationship ManagerAsset Manager
Average age4646
Gender ratioMale, 64.6% Female, 35.4%Male, 64.3% Female, 35.7%
Race ratioBlack 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%Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.9% White, 63.8% American Indian and Alaska Native, 0.3%
LGBT Percentage11%11%

Differences between business relationship manager and asset manager duties and responsibilities

Business relationship manager example responsibilities.

  • Manage cross-selling and foster customer loyalty by ensuring value to these services.
  • Originate and structure commercial loans and manage credit risk both before and after loan origination.
  • Prepare and manage annual budget, perform financial reporting, complete tax returns, and manage personnel and payroll functions.
  • Manage a portfolio in various stages of workout including liquidation, refinancing, restructure, rehabilitation, bankruptcy and litigation.
  • Complete extensive executive training in business banking, with focus on commercial loan origination, deposits and treasury services.
  • Negotiate and procure supplies to maximize return on investment through use of RFP process.
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Asset manager example responsibilities.

  • Manage and improve the processes require to support server end of life and normal windows patching processes.
  • Manage a pipeline of assets/projects through the project life cycle of short sale/deed in lieu of foreclosure through closing.
  • Manage and facilitate IRB investigations of report non-compliance and/or scientific misconduct.
  • Recognize for financial acumen, successfully managing invoicing, vendor accounts, reconciliations, and target reports.
  • Manage commercial and multifamily REO portfolio preparing property operating plans to enhance value and marketability of REO asset
  • Trade structured product securities for accounts manage by other portfolio managers base on economic conditions and the needs of specific portfolios.
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Business relationship manager vs asset manager skills

Common business relationship manager skills
  • Customer Service, 10%
  • Relationship Management, 7%
  • Cash Management, 6%
  • Risk Management, 6%
  • Business Development, 6%
  • Customer Relationships, 5%
Common asset manager skills
  • Asset Management, 20%
  • Financial Statements, 7%
  • Property Management, 7%
  • Customer Service, 6%
  • Oversight, 5%
  • Loan Portfolio, 5%

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