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The differences between business relationship managers and credit 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 a credit manager. Additionally, a business relationship manager has an average salary of $87,741, which is higher than the $68,583 average annual salary of a credit manager.
The top three skills for a business relationship manager include customer service, relationship management and cash management. The most important skills for a credit manager are customer service, financial statements, and credit card.
| Business Relationship Manager | Credit Manager | |
| Yearly salary | $87,741 | $68,583 |
| Hourly rate | $42.18 | $32.97 |
| Growth rate | 17% | 17% |
| Number of jobs | 114,003 | 63,898 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 67% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
A credit manager is an individual who supervises the credit granting process for a company by evaluating the creditworthiness of potential customers. Credit managers must maintain corporate credit policy to optimize company sales and reduce bad debt losses. They must manage the proper relationship with agencies such as the collection agency, credit insurance providers, and the sales department. Credit managers may work in different industries such as banks, accounting firms, or auto dealerships. They must also possess a bachelor's degree in financial management or related field.
Business relationship managers and credit managers have different pay scales, as shown below.
| Business Relationship Manager | Credit Manager | |
| Average salary | $87,741 | $68,583 |
| Salary range | Between $61,000 And $125,000 | Between $39,000 And $119,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New Jersey | Oregon |
| Best paying company | AstraZeneca | Microsoft |
| Best paying industry | Technology | Finance |
There are a few differences between a business relationship manager and a credit manager in terms of educational background:
| Business Relationship Manager | Credit Manager | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business relationship managers' and credit managers' demographics:
| Business Relationship Manager | Credit Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 64.6% Female, 35.4% | Male, 53.9% Female, 46.1% |
| Race ratio | 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% | Black or African American, 7.9% Unknown, 4.1% Hispanic or Latino, 15.3% Asian, 7.8% White, 64.5% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |