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The differences between business relationship managers and product managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a business relationship manager, becoming a product manager takes usually requires 8-10 years. Additionally, a product manager has an average salary of $111,729, which is higher than the $87,741 average annual salary of a business relationship manager.
The top three skills for a business relationship manager include customer service, relationship management and cash management. The most important skills for a product manager are product management, QA, and product strategy.
| Business Relationship Manager | Product Manager | |
| Yearly salary | $87,741 | $111,729 |
| Hourly rate | $42.18 | $53.72 |
| Growth rate | 17% | 10% |
| Number of jobs | 114,003 | 125,678 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 72% |
| Average age | 46 | 39 |
| Years of experience | 8 | 10 |
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 product manager is responsible for ensuring product development, providing the best marketing strategies, and effectively handling the sales and marketing team. Product managers' duties include monitoring the market trends and conditions, identifying business opportunities and plan initiatives, and collaborating the product launch process with the appropriate departments. A product manager is also responsible for generating ideas on improving product features, determining timetables and reasonable pricing, and analyzing product sales. A product manager must have excellent strategic and decision-making skills to contribute to its growth and profitability.
Business relationship managers and product managers have different pay scales, as shown below.
| Business Relationship Manager | Product Manager | |
| Average salary | $87,741 | $111,729 |
| Salary range | Between $61,000 And $125,000 | Between $81,000 And $152,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New Jersey | California |
| Best paying company | AstraZeneca | Meta |
| Best paying industry | Technology | Retail |
There are a few differences between a business relationship manager and a product manager in terms of educational background:
| Business Relationship Manager | Product Manager | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Georgia |
Here are the differences between business relationship managers' and product managers' demographics:
| Business Relationship Manager | Product Manager | |
| Average age | 46 | 39 |
| Gender ratio | Male, 64.6% Female, 35.4% | Male, 65.3% Female, 34.7% |
| 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, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 11% | 10% |