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The differences between relationship account managers and key account 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 a key account manager. Additionally, a key account manager has an average salary of $102,315, 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 a key account manager are account management, customer service, and patients.
| Relationship Account Manager | Key Account Manager | |
| Yearly salary | $65,213 | $102,315 |
| Hourly rate | $31.35 | $49.19 |
| Growth rate | 5% | 5% |
| Number of jobs | 149,358 | 160,992 |
| 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.
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.
Relationship account managers and key account managers have different pay scales, as shown below.
| Relationship Account Manager | Key Account Manager | |
| Average salary | $65,213 | $102,315 |
| Salary range | Between $46,000 And $91,000 | Between $75,000 And $138,000 |
| Highest paying City | Richmond, CA | San Francisco, CA |
| Highest paying state | New York | Maine |
| Best paying company | Adobe | Quidel |
| Best paying industry | Finance | Pharmaceutical |
There are a few differences between a relationship account manager and a key account manager in terms of educational background:
| Relationship Account Manager | Key Account 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 key account managers' demographics:
| Relationship Account Manager | Key Account Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.9% Female, 47.1% | Male, 68.1% Female, 31.9% |
| 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% |