Relationship managers managerial level staff that serve as part of a company's customer service or sales department. Within a sales team, a relationship manager is a mid-level position primarily responsible for improving business relationships with clients and partner firms.
As a relationship manager, your role is crucial in the growth and success of the organization. You not only bring more clients to the table but also ensure the satisfaction of existing customers. You may perform a variety of interesting tasks involving both fieldwork and desk duties to achieve organizational goals.
To begin working as a relationship manager, most often you'll need a bachelor's degree in business management, marketing, or a related field. You may interact closely with a range of stakeholders, businesses, customers, clients, and the community, so previous experience in customer service or sales is an advantage. To be successful, you must be an excellent communicator with the ability to cultivate relationships, retain clients, and build rapport with customers. And there's always room for advancement. As you gain experience, you may take on more clients or become a relationship director, leading a relationship management team.
There is more than meets the eye when it comes to being a relationship manager. For example, did you know that they make an average of $44.1 an hour? That's $91,735 a year!
Between 2018 and 2028, the career is expected to grow 5% and produce 20,600 job opportunities across the U.S.
There are certain skills that many relationship managers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed customer-service skills, analytical skills and leadership skills.
When it comes to the most important skills required to be a relationship manager, we found that a lot of resumes listed 10.9% of relationship managers included client relationships, while 9.3% of resumes included financial services, and 8.1% of resumes included financial goals. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the relationship manager job title. But what industry to start with? Most relationship managers actually find jobs in the finance and technology industries.
If you're interested in becoming a relationship manager, one of the first things to consider is how much education you need. We've determined that 63.6% of relationship managers have a bachelor's degree. In terms of higher education levels, we found that 12.7% of relationship managers have master's degrees. Even though most relationship managers have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a relationship manager. When we researched the most common majors for a relationship manager, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on relationship manager resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a relationship manager. In fact, many relationship manager jobs require experience in a role such as customer service representative. Meanwhile, many relationship managers also have previous career experience in roles such as account executive or personal banker.