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The differences between client advisors and relationship managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a client advisor, becoming a relationship manager takes usually requires 6-8 years. Additionally, a relationship manager has an average salary of $83,761, which is higher than the $71,135 average annual salary of a client advisor.
The top three skills for a client advisor include customer service, business development and CRM. The most important skills for a relationship manager are client relationships, work ethic, and strong work ethic.
| Client Advisor | Relationship Manager | |
| Yearly salary | $71,135 | $83,761 |
| Hourly rate | $34.20 | $40.27 |
| Growth rate | 15% | 5% |
| Number of jobs | 86,363 | 72,920 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 69% |
| Average age | 45 | 46 |
| Years of experience | 4 | 8 |
A client advisor is responsible for managing and maintaining healthy business relationships with clients to achieve long-term business goals and objectives. Client advisors advise the senior management in building strategic techniques and identify business opportunities that would generate more revenue resources and increase the company's profits. They also monitor business and financial transactions and analyze client portfolios to determine their needs and interests, recommending plans and coordinating with the senior management to achieve the highest client satisfaction.
A relationship manager is responsible for maintaining a positive and professional relationship with customers and business partners, ensuring the highest customer satisfaction and good reputation. Relationship managers advise management on identifying business opportunities by analyzing the current market trends that would help generate revenues and increase its profitability. They connect with the marketing and sales team for product and services innovation, create compelling sales pitches, and develop customer service processes to assist customers with their inquiries and concerns efficiently.
Client advisors and relationship managers have different pay scales, as shown below.
| Client Advisor | Relationship Manager | |
| Average salary | $71,135 | $83,761 |
| Salary range | Between $40,000 And $123,000 | Between $56,000 And $123,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | New York |
| Best paying company | BP America Inc | |
| Best paying industry | - | Finance |
There are a few differences between a client advisor and a relationship manager in terms of educational background:
| Client Advisor | Relationship Manager | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Minnesota - Twin Cities | University of Southern California |
Here are the differences between client advisors' and relationship managers' demographics:
| Client Advisor | Relationship Manager | |
| Average age | 45 | 46 |
| Gender ratio | Male, 66.8% Female, 33.2% | Male, 53.5% Female, 46.5% |
| Race ratio | Black or African American, 6.1% Unknown, 4.4% Hispanic or Latino, 10.0% Asian, 7.5% White, 71.9% American Indian and Alaska Native, 0.1% | Black or African American, 3.2% Unknown, 4.4% Hispanic or Latino, 9.8% Asian, 4.1% White, 78.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 5% | 7% |