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The differences between senior relationship managers and risk 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 senior relationship manager and a risk manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $112,626 average annual salary of a senior relationship manager.
The top three skills for a senior relationship manager include business development, financial services and financial statements. The most important skills for a risk manager are oversight, risk assessments, and project management.
| Senior Relationship Manager | Risk Manager | |
| Yearly salary | $112,626 | $116,072 |
| Hourly rate | $54.15 | $55.80 |
| Growth rate | 17% | 17% |
| Number of jobs | 55,259 | 75,795 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 66% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A senior relationship manager is responsible for handling clients and customer relationships, ensuring that the team provides the highest quality service for the customers to maintain the company's excellent reputation and operational efficiency. Senior relationship managers analyze current market trends to identify business opportunities that meet the clients' demands and public interests, generating resources for revenues, and increasing the company's profitability. They also assist the marketing and sales team in developing promotional strategies for brand awareness to attract potential clients and create business partnerships.
A risk manager is responsible for analyzing potential risks that may affect the organization's operations, reputation, and market credibility. Risk managers identify risk controls and discuss business contingency plans for unforeseen circumstances to prevent delays in operational services. They also develop compliance training and programs for all the employees to provide them the awareness of the safety and security regulations within the company premises. A risk manager must have excellent communication and leadership skills, especially on handling and investigating cases that might compromise the business stability and financial status.
Senior relationship managers and risk managers have different pay scales, as shown below.
| Senior Relationship Manager | Risk Manager | |
| Average salary | $112,626 | $116,072 |
| Salary range | Between $78,000 And $161,000 | Between $84,000 And $160,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New York | California |
| Best paying company | Bloomberg | Credit Karma |
| Best paying industry | Finance | Technology |
There are a few differences between a senior relationship manager and a risk manager in terms of educational background:
| Senior Relationship Manager | Risk Manager | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior relationship managers' and risk managers' demographics:
| Senior Relationship Manager | Risk Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 64.4% Female, 35.6% | Male, 59.3% Female, 40.7% |
| Race ratio | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.6% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.5% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |