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The differences between relationship account managers and account development 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 relationship account manager and an account development manager. Additionally, an account development manager has an average salary of $72,375, which is higher than the $65,213 average annual salary of a relationship account manager.
The top three skills for a relationship account manager include account management, CRM and business development. The most important skills for an account development manager are customer relationships, customer accounts, and CRM.
| Relationship Account Manager | Account Development Manager | |
| Yearly salary | $65,213 | $72,375 |
| Hourly rate | $31.35 | $34.80 |
| Growth rate | 5% | 5% |
| Number of jobs | 149,358 | 214,004 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 78% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
Relationship Account Managers help financial service organizations oversee sales and nourish their relationship with the assigned clients. They are assigned to clients depending on the service needs, product needs, industry, and geography. These professionals ensure the products or services perform to expectations by engaging with the assigned clients. They launch other groups' complementary products or services and recommend new services or products. Also, they ensure new accounts generate more sales revenue by contacting new potential clients.
An account development manager's responsibilities revolve around securing and reaching sales targets, creating business plans, developing strategies, and building positive relationships with clients. They must also reach out to clients through calls and correspondence, offer products and services, and address any issues and concerns, resolving them promptly and efficiently. There are also instances when they have to collect and process payments, perform follow-up calls, negotiate contracts, and even open and close accounts. Furthermore, as a manager, it is essential to lead and encourage the team to reach goals, all while implementing the company's policies and regulations.
Relationship account managers and account development managers have different pay scales, as shown below.
| Relationship Account Manager | Account Development Manager | |
| Average salary | $65,213 | $72,375 |
| Salary range | Between $46,000 And $91,000 | Between $43,000 And $120,000 |
| Highest paying City | Richmond, CA | Sacramento, CA |
| Highest paying state | New York | New York |
| Best paying company | Adobe | NVIDIA |
| Best paying industry | Finance | Technology |
There are a few differences between a relationship account manager and an account development manager in terms of educational background:
| Relationship Account Manager | Account Development Manager | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 78% |
| Most common major | Business | Business |
| Most common college | University of Southern California | University of Southern California |
Here are the differences between relationship account managers' and account development managers' demographics:
| Relationship Account Manager | Account Development Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.9% Female, 47.1% | Male, 61.8% Female, 38.2% |
| Race ratio | 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% | 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 | 7% | 7% |