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Key account manager hiring summary. Here are some key points about hiring key account managers in the United States:
Here's a step-by-step key account manager hiring guide:
A key account manager is primarily in charge of handling key clients that produce the most profit for a company or business, ensuring that they remain with them. They are mainly responsible for understanding their clients' needs and long-term goals, ensuring that the key clients get to receive all the necessary services and products in time, and promptly address and resolve any issues and concerns. Furthermore, a key account manager may prepare reports and proposals to team members, all while adhering to the company's policies and standards.
First, determine the employments status of the key account manager you need to hire. Certain key account manager roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
A key account manager's background is also an important factor in determining whether they'll be a good fit for the position. For example, key account 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 shows salaries for various types of key account managers.
| Type of Key Account Manager | Description | Hourly rate |
|---|---|---|
| Key Account Manager | Sales managers direct organizations' sales teams. They set sales goals, analyze data, and develop training programs for organizations’ sales representatives. | $36-66 |
| Product Manager/Sales | A sales product manager is responsible for monitoring the sales performance of a specific product and ensuring that the marketing strategies adhere to market standards and client requirements. Sales product managers work closely with the marketing and public relations team to enhance the product's brand image on various market platforms to reach the target audience... Show more | $36-75 |
| Outside Sales Manager | An outside sales manager is responsible for monitoring the sales staff performance in selling goods and services to existing and potential clients and ensuring that the team meets sales objectives. Outside sales managers set reasonable sales targets and establish techniques to maximize the staff's efficiency and productivity... Show more | $24-66 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $128,043 | $62 |
| 2 | Washington | $114,805 | $55 |
| 3 | New York | $113,997 | $55 |
| 4 | Massachusetts | $113,770 | $55 |
| 5 | Pennsylvania | $111,238 | $53 |
| 6 | New Jersey | $109,458 | $53 |
| 7 | Virginia | $107,351 | $52 |
| 8 | District of Columbia | $107,188 | $52 |
| 9 | Michigan | $105,530 | $51 |
| 10 | West Virginia | $105,268 | $51 |
| 11 | Utah | $104,204 | $50 |
| 12 | Ohio | $102,332 | $49 |
| 13 | Arizona | $101,983 | $49 |
| 14 | Illinois | $101,258 | $49 |
| 15 | Oregon | $100,038 | $48 |
| 16 | North Carolina | $98,385 | $47 |
| 17 | Louisiana | $95,726 | $46 |
| 18 | Texas | $95,094 | $46 |
| 19 | Minnesota | $93,857 | $45 |
| 20 | South Carolina | $91,764 | $44 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Quidel | $140,153 | $67.38 | |
| 2 | Legalmatch.com | $136,369 | $65.56 | 10 |
| 3 | Sumo Logic | $134,149 | $64.49 | 9 |
| 4 | eBay | $134,141 | $64.49 | 2 |
| 5 | Rohde & Schwarz | $131,003 | $62.98 | |
| 6 | Bunge | $128,611 | $61.83 | 7 |
| 7 | Wind River | $127,897 | $61.49 | |
| 8 | Boehringer Ingelheim | $127,197 | $61.15 | 24 |
| 9 | Renesas Electronics | $126,787 | $60.96 | 3 |
| 10 | Bristol-Myers Squibb | $124,450 | $59.83 | 1 |
| 11 | $124,032 | $59.63 | 30 | |
| 12 | PennWell | $122,647 | $58.96 | |
| 13 | Elanco | $120,620 | $57.99 | 6 |
| 14 | Agilent Technologies | $120,594 | $57.98 | 9 |
| 15 | Amgen | $120,565 | $57.96 | 99 |
| 16 | Udemy | $119,104 | $57.26 | 2 |
| 17 | Baker Hughes | $118,921 | $57.17 | 20 |
| 18 | Takeda Pharmaceuticals U.S.A., Inc. | $118,781 | $57.11 | 43 |
| 19 | Sanofi US | $118,243 | $56.85 | 59 |
| 20 | World Fuel Services | $117,806 | $56.64 | 1 |
A key account 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 key account manager job description:
To find key account managers for your business, try out a few different recruiting strategies:
Recruiting key account managers requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.
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 key account 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.
You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.
After that, you can create an onboarding schedule for a new key account manager. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Hiring a key account manager comes with both the one-time cost per hire and ongoing costs. The cost of recruiting key account managers involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of key account manager recruiting as well the ongoing costs of maintaining the new employee.
You can expect to pay around $102,315 per year for a key account manager, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for key account managers in the US typically range between $36 and $66 an hour.