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The differences between new accounts specialists and retention specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a new accounts specialist and a retention specialist. Additionally, a retention specialist has an average salary of $37,175, which is higher than the $35,186 average annual salary of a new accounts specialist.
The top three skills for a new accounts specialist include customer service, customer satisfaction and real estate. The most important skills for a retention specialist are customer service, outbound calls, and powerpoint.
| New Accounts Specialist | Retention Specialist | |
| Yearly salary | $35,186 | $37,175 |
| Hourly rate | $16.92 | $17.87 |
| Growth rate | -3% | -4% |
| Number of jobs | 42,651 | 199,631 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 40% |
| Average age | 41 | 40 |
| Years of experience | 12 | 12 |
A new accounts specialist is in charge of understanding the needs and providing services to new clients, ensuring efficiency and client satisfaction. They are responsible for conducting market research and analysis to find new opportunities, gathering and analyzing data to assess procedures and optimize operations, preparing and processing client reports, answering inquiries, and resolving issues and concerns promptly and efficiently. Moreover, a new accounts specialist must maintain an active communication line with clients to provide them with optimal services, building positive relationships along the way.
A retention specialist is responsible for devising strategies to maintain a healthy relationship with clients. They are primarily in charge of negotiating and securing contract renewals, handling issues and corrective measures for customer satisfaction, utilizing feedback to improve services, and maintaining a healthy rapport to strengthen the client base. Furthermore, as a retention specialist, it is essential to perform calls and correspondence, keep records of all transactions, and coordinate with work-staff.
New accounts specialists and retention specialists have different pay scales, as shown below.
| New Accounts Specialist | Retention Specialist | |
| Average salary | $35,186 | $37,175 |
| Salary range | Between $25,000 And $47,000 | Between $28,000 And $48,000 |
| Highest paying City | - | Los Angeles, CA |
| Highest paying state | - | California |
| Best paying company | - | Adobe |
| Best paying industry | - | Finance |
There are a few differences between a new accounts specialist and a retention specialist in terms of educational background:
| New Accounts Specialist | Retention Specialist | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 40% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between new accounts specialists' and retention specialists' demographics:
| New Accounts Specialist | Retention Specialist | |
| Average age | 41 | 40 |
| Gender ratio | Male, 34.8% Female, 65.2% | Male, 37.0% Female, 63.0% |
| Race ratio | Black or African American, 9.9% Unknown, 2.9% Hispanic or Latino, 21.8% Asian, 9.3% White, 55.4% American Indian and Alaska Native, 0.8% | Black or African American, 11.4% Unknown, 5.3% Hispanic or Latino, 20.6% Asian, 6.0% White, 55.9% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 11% | 7% |