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Business relationship manager hiring summary. Here are some key points about hiring business relationship managers in the United States:
Here's a step-by-step business relationship manager hiring guide:
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.
Before you post your business relationship manager job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a business relationship manager for hire on a part-time basis or as a contractor.
A business relationship manager's background is also an important factor in determining whether they'll be a good fit for the position. For example, business relationship managers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list presents business relationship manager salaries for various positions.
| Type of Business Relationship Manager | Description | Hourly rate |
|---|---|---|
| Business Relationship Manager | Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. | $29-60 |
| Underwriting Manager | Underwriting managers work mostly in the financial and insurance industries to provide management for all underwriting activities, including loan applications and insurance products. They oversee a team of associate-level staff, assigning them insurance or loan plans to evaluate and underwrite, ensuring that they comprehend expectations and timelines, and provide support by answering questions... Show more | $24-57 |
| Risk Manager | 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... Show more | $40-76 |
Including a salary range in the business relationship manager job description is a good way to get more applicants. A business relationship manager salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a business relationship manager in Arkansas may be lower than in New Jersey, and an entry-level engineer typically earns less than a senior-level business relationship manager. Additionally, a business relationship manager with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $118,950 | $57 |
| 2 | New York | $109,126 | $52 |
| 3 | Connecticut | $108,381 | $52 |
| 4 | Delaware | $108,197 | $52 |
| 5 | Massachusetts | $106,195 | $51 |
| 6 | Pennsylvania | $104,324 | $50 |
| 7 | Maine | $98,326 | $47 |
| 8 | District of Columbia | $96,861 | $47 |
| 9 | Nevada | $94,017 | $45 |
| 10 | Washington | $89,615 | $43 |
| 11 | Wisconsin | $86,311 | $42 |
| 12 | Illinois | $84,636 | $41 |
| 13 | Arizona | $83,231 | $40 |
| 14 | Minnesota | $81,830 | $39 |
| 15 | New Mexico | $81,422 | $39 |
| 16 | Alabama | $81,216 | $39 |
| 17 | Oregon | $80,678 | $39 |
| 18 | Florida | $77,957 | $37 |
| 19 | Colorado | $77,214 | $37 |
| 20 | Indiana | $75,962 | $37 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | AstraZeneca | $125,895 | $60.53 | 5 |
| 2 | AlixPartners | $124,035 | $59.63 | 2 |
| 3 | AbbVie | $119,820 | $57.61 | 24 |
| 4 | WePay | $116,495 | $56.01 | |
| 5 | Adobe | $115,109 | $55.34 | 7 |
| 6 | BMO Capital Markets | $108,989 | $52.40 | 303 |
| 7 | VF | $106,214 | $51.06 | |
| 8 | ARM | $104,027 | $50.01 | |
| 9 | Federal Reserve Bank | $103,523 | $49.77 | 3 |
| 10 | American Water | $102,531 | $49.29 | 5 |
| 11 | DocuSign | $102,245 | $49.16 | 7 |
| 12 | Corteva | $101,768 | $48.93 | 5 |
| 13 | The Dow Chemical Company | $101,710 | $48.90 | 6 |
| 14 | Encore Capital Group | $101,595 | $48.84 | |
| 15 | Smith & Nephew | $101,555 | $48.82 | 2 |
| 16 | Tata Group | $101,158 | $48.63 | 42 |
| 17 | Npr | $100,497 | $48.32 | |
| 18 | Celanese | $99,716 | $47.94 | 8 |
| 19 | Atlantic Capital Bank | $99,651 | $47.91 | 31 |
| 20 | Sony Pictures | $98,978 | $47.59 | 3 |
A business relationship manager job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a business relationship manager job description:
To find the right business relationship manager for your business, consider trying out a few different recruiting strategies:
During your first interview to recruit business relationship managers, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've selected the best business relationship manager candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.
Recruiting business relationship managers involves both the one-time costs of hiring and the ongoing costs of adding a new employee to your team. Your spending during the hiring process will mostly be on things like promoting the job on job boards, reviewing and interviewing candidates, and onboarding the new hire. Ongoing costs will obviously involve the employee's salary, but also may include things like benefits.
Business relationship managers earn a median yearly salary is $87,741 a year in the US. However, if you're looking to find business relationship managers for hire on a contract or per-project basis, hourly rates typically range between $29 and $60.