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The differences between business relationship managers and risk 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 risk manager. Additionally, a risk manager has an average salary of $116,072, 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 risk manager are oversight, risk assessments, and project management.
| Business Relationship Manager | Risk Manager | |
| Yearly salary | $87,741 | $116,072 |
| Hourly rate | $42.18 | $55.80 |
| Growth rate | 17% | 17% |
| Number of jobs | 114,003 | 75,795 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 66% |
| 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 risk manager is responsible for analyzing potential risks that may affect the organization's operations, reputation, and market credibility. Risk managers identify risk controls and discuss business contingency plans for unforeseen circumstances to prevent delays in operational services. They also develop compliance training and programs for all the employees to provide them the awareness of the safety and security regulations within the company premises. A risk manager must have excellent communication and leadership skills, especially on handling and investigating cases that might compromise the business stability and financial status.
Business relationship managers and risk managers have different pay scales, as shown below.
| Business Relationship Manager | Risk Manager | |
| Average salary | $87,741 | $116,072 |
| Salary range | Between $61,000 And $125,000 | Between $84,000 And $160,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New Jersey | California |
| Best paying company | AstraZeneca | Credit Karma |
| Best paying industry | Technology | Technology |
There are a few differences between a business relationship manager and a risk manager in terms of educational background:
| Business Relationship Manager | Risk Manager | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business relationship managers' and risk managers' demographics:
| Business Relationship Manager | Risk Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 64.6% Female, 35.4% | Male, 59.3% Female, 40.7% |
| 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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.5% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |