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A Relationship Manager forms an essential link between clients, customers, and partners. These professionals are responsible for nurturing long-term client relationships, managing client expectations, and working closely with internal teams.
Relationship Managers build and maintain customer relations, look for new business opportunities, and help boost profitability. As a Relationship Manager, I had to work closely with the sales and marketing teams to improve customer satisfaction and build strong client relations.
Excellent communication and problem-solving skills helped me excel in my career. Since the role of Relationship Manager demands working in close relationships with people, having people management skills is a plus point in this job role.
Relationship management is generally of two types: business and client relationship management. However, the common goal of both types is to facilitate good relations, maximize their value, and maintain a good reputation.
These managers are in high demand across sectors; however, their salaries can vary based on several factors. Let me shed some light on the average Relationship Manager salary in different parts of the world to help you assess salary trends for this role.
Relationship Managers build and maintain relations with customers or clients for their company. They address client inquiries, resolve any problems, and provide assistance to the clients. These professionals are always looking for ways to improve the client experience.
As a Relationship Manager, it was my responsibility to learn about the competition, study the market trends, and develop strategies to facilitate my company’s consistent growth. I was also responsible for ensuring the smooth onboarding of new clients to ensure an easy introduction and transition of customers to our brand’s services or products.
This is a strategic role as it involves understanding the current market needs, acting as a bridge between departments, and ensuring that the processes align with the strategic objectives and goals of the organization.
Relationship Managers play an important role in how companies maintain their client and partner relations. Therefore, this high-level managerial role claims a high-paying compensation to retain skilled professionals.
Relationship Managers working in the US are offered an average annual salary of USD 75,196. However, this amount can vary depending on several factors, which we will see in this article.
Here are the average Relationship Manager salary figures (Source: Indeed):
Per hour | USD 32.31 |
Per month | USD 5,324 |
Per year | USD 75,196 |
One of the major aspects that influenced my salary as a Relationship Manager was the experience I gained. The more experience I acquired, the higher the salary offered to me. Here is a comparison to help you understand how the salary of a relations manager is altered according to their experience.
Another factor that significantly affects the Relationship Manager's salary is the location of the job. A job with a similar level of experience and workload can attract different salary figures, all based on the location you’re currently employed at, ranging from cities to countries.
Let me offer you a glance at the average Relationship Manager salary figures and their variations according to place and company.
The average Relationship Manager salary in the different Indian cities is as follows:
City | Salary (per annum) (Source: Indeed) |
Delhi | INR 4,18,419 |
Bengaluru | INR 4,27,328 |
Pune | INR 4,53,401 |
The average salary of Relationship Managers in the top companies of India are as follows:
Company | Salary (per annum) (Source: Indeed) |
HDFC Bank | INR 6,50,336 |
Bajaj Capital | INR 3,63,685 |
Yes Bank | INR 6,58,349 |
The average Relationship Manager salary in the different cities of the US is as follows:
City | Salary (per annum) (Source: Indeed) |
Boston | USD 74,022 |
Seattle | USD 73,984 |
New York | USD 117,349 |
The average salary of Relationship Managers across top companies in the US are as follows:
Company | Salary (per annum) (Source: Indeed) |
USD 91,488 | |
Wells Fargo | USD 116,816 |
Vanguard | USD 82,812 |
The average Relationship Manager salary found in different cities of the UK is as follows:
City | Salary (per annum) (Source: Indeed) |
London | GBP 49,685 |
Manchester | GBP 31,817 |
Cambridge | GBP 40,997 |
The average associate Relationship Manager salary offered in the top companies across the UK is as follows:
Company | Salary (per annum) (Source: Indeed) |
Bloomberg | |
Citi | |
HSBC |
The average Relationship Manager salary provided in different Australian cities is as follows:
City | Salary (per annum) (Source: Indeed) |
Sydney | AUD 115,358 |
Geelong | AUD 105,513 |
Perth | AUD 105,161 |
The average salary of Relationship Managers in the top companies of Australia are as follows:
Company | Salary (per annum) (Source: Indeed) |
Afterpay | AUD 100,344 |
American Express | AUD 74,708 |
Commonwealth Bank of Australia | AUD 104,241 |
The average Relationship Manager salary across different Canadian cities is as follows:
City | Salary (per annum) (Source: Indeed) |
Toronto | CAD 78,501 |
Vancouver | CAD 76,794 |
Calgary | CAD 56,695 |
The average salary of Relationship Managers offered in the top Canadian companies are:
Company | Salary (per annum) (Source: Indeed) |
TD Bank | CAD 99,030 |
CIBC | CAD 83,830 |
Scotiabank | CAD 82,141 |
The average Relationship Manager salary in the different cities of Singapore is as follows:
City | Salary (per annum) (Source: Indeed) |
Outram | SGD 58,574 |
Bedok | SGD 35,954 |
Orchard | SGD 50,841 |
The average Relationship Manager salary per month in the top companies of Singapore is as follows:
Company | Salary (per month) |
Bank of Singapore | SGD 16,169 |
Citi | SGD 7,067 |
SEEK Asia | SGD 3,942 |
Under the umbrella of Relationship Manager, skilled professionals can further explore a wide range of roles with a different focus. Some of these job roles and their salaries have been mentioned below:
Job role | Salary (per annum) (Source: Indeed, payscale, salary.com) |
Client Relationship Manager | USD 134,883 |
Guest Relations Manager Salary | USD 65,500 |
USD 91,638 | |
Customer Relationship Manager | USD 149,452 |
Supplier Relationship Manager | USD 136,800 |
Every company is looking for skilled professionals who can help secure a strong bond with its stakeholders and customers. To nurture such skilled professionals, organizations offer different compensation packages that are influenced by various factors.
Let us discuss the difference in salary of Relationship Managers based on various such factors:
The location of your job is the primary factor that affects your salary. For instance, Relationship Managers working in New York are offered an annual salary of USD 117,349. Whereas an individual working in the same role in San Diego is offered an average annual salary of USD 61,609.
This whooping difference in salary is noticed since New York is home to some of the most successful and innovative companies. While working in this city, I was offered one of the highest Relationship Manager salary packages compared to other parts of the US.
Even though the job role of these professionals is almost the same across the board, every company has its own specifications for its employees. This is one of the main reasons why the salary of Relationship Managers changes depending on the company.
For instance, Relationship Managers are offered an average annual salary of USD 50,949 working at Team Select Home Care. Whereas these managers are offered an average annual salary of USD 116,816 at Wells Fargo.
Experience is the type of qualification that you cannot get from any book or course. This is why people with more experience are paid higher salaries. For instance, the average senior Relationship Manager salary is around USD 140,718 per annum.
On the other hand, a Junior Relationship Manager salary is around USD 60,000 per annum. This huge jump in salary comes with experience.
The demand and supply of services determine not only the salary but also the employability of these professionals. The role of a Relationship Manager and their decided compensation package are heavily reliant on the organization's need to establish strong client and customer relations along with the expansion of the customer base aligned with the prevailing economic conditions.
If you are someone who has been working in the management field for some time and wants to upskill themselves, certified courses are a great way to do so. Employers are always looking for people to recruit who have knowledge that is out of the box and will help the company in increasing their profits.
Certified courses are ideal to learn new concepts in a short period and also gain hands-on experience under the guidance of industry leaders. Certifications not only add credibility to your resume but also showcase your drive to upskill and achieve better things for the organization in the long run.
Relationship Managers work closely with company customers and partners. To thrive in their jobs, they need excellent communication and problem-solving skills. These skills help them interpret and express themselves to the organization's stakeholders.
Working as a senior-level relations manager, my problem-solving skills helped me greatly in dealing with challenging situations. In case you’re hoping to acquire a lucrative relations job, or want to climb the corporate ladder, upskilling with in-demand skills is the right way to do so.
If you want to explore better Relationship Manager job opportunities, working on your overall portfolio can help you do so. Here are some ways you can explore to boost your salary.
Certain soft skills help Relationship Managers stand out. Some of these skills are as follows:
Enrolling in a credible certified course can help you explore better job opportunities. For anyone looking for ways to boost their employability, certified courses are one of the best ways to do so. These courses have helped me learn new skills and to stay ahead of the competition. Platforms like KnowledgeHut offer an extensive range of courses best suited for people like you, aiming to upskill.
To become a successful Relationship Manager, pursuing a BBA degree is a must. This course will help you understand the fundamentals of management. You can also choose to pursue an MBA degree to explore better Relationship Manager opportunities and more high-paying jobs.
Experience is always in demand. Gaining experience will help you land better job opportunities as employers know and believe that experienced candidates will help their company a lot.
Relationship Managers worldwide are paid lucrative salaries. This is not only because they are highly in demand but also because the job is demanding, comprising a spectrum of duties. Relationship Managers are often aligned with time-bound responsibilities, juggling client expectations with internal processes to converge successfully at a common juncture.
These professionals are also paid high salaries because they are expected to have excellent interpersonal skills which help them excel in their job roles. They are paid high salaries to reward the knowledge and skills they bring to the role.
Relationship Managers handle interactions with the company’s clients and partners. They seek customer satisfaction and aim to fulfill the needs of the partners. The goal is to build a culture of relationships based on value and trust, not only on price. This helps in keeping loyal customers. They also work with Sales Managers, Senior Executives, Finance Directors, Technical Managers, and others who influence sales decisions.
Relationship Managers are the face of the company and have the responsibility to build and nurture good client relations that could impact the reputation of a company. This is the reason why this role is highly lucrative and attracts exceptional pay packages. If you, too, would like to pursue such dynamic roles, upskill with KnowledgeHut online education programs.
The average Relationship Manager's salary varies according to industry. For instance, a Relationship Manager working for Citi Bank is offered an average annual salary of USD 122,031. Whereas someone working for Fidelity Investments is offered a salary of USD 65,061 per annum.
Relationship Managers can expect a boost in their salary depending on several aspects. Gaining certificates, pursuing a degree, gaining experience, and changing job location are some ways in which an average Relationship Manager salary can increase.
As a Relationship Manager moves up the career ladder, they can work as a team head managing a Relationship Managers’ group or a Branch Manager. Further, these professionals can also become Vice President or Director of Relationship Management.
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