Relationship Manager Salary

Relationship Managers in the United States take home approximately $67K per year on average. In the world of Relationship Managers, overall income ranges from $39K near the bottom to $131K at the top; this can include more than $31K from bonuses and more than $10K from profit sharing in exceptional cases. The company is the biggest factor affecting pay for this group, followed by years of experience and geographic location. A large number report receiving medical coverage from their employers and most collect dental insurance. Men working as Relationship Managers who took the survey just slightly outnumber women at 54 percent. Work is enjoyable for Relationship Managers, who typically claim high levels of job satisfaction. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$39,289 - $114,250
(Median)
$39K
$67K
$110K
MEDIAN: $67,319
10%
50%
90%

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$13.80 - $27.61
(Median)
$14
$20
$28
MEDIAN: $20
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$39,289 - $114,250  
   
Bonus
$1,536 - $30,978  
Profit Sharing
$1,000 - $10,213  
Commission
$1,510 - $41,007  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$39,439 - $130,629  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,610
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$25$50$75
Hourly Rate
$13.80 - $27.61  
   
Overtime
$26.56 - $51.28  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Bonus
$1,536 - $30,978  
   
Commission
$1,510 - $41,007  
Profit Sharing
$1,000 - $10,213  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$39,439 - $130,629  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 95
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Job Description for Relationship Manager

Relationship managers, in essence, are members of a company who are assigned to communicating with certain entities outside or inside of the company. There are several types of relationship managers, which mainly differ in terms of who they deal with: Relationship managers can communicate with other businesses, clients, customers, vendors, communities, etc. Relationship managers' main job duty is to make sure that adequate communication is maintained with these entities. Relationship managers who deal with clients and customers can explain what the company does, what ethics the company is bound by, and why the client should choose this company over any competitors. Relationship managers will typically work within a company in customer service or often as part of a sales department. They are able to explain customers' and clients' needs and what steps should be taken in order to fulfill those needs, as well as any legal boundaries that exist between the company and outside entities such as contractual obligations and legal restrictions. As such, relationship managers are tasked with keeping up with communications involving the company and its clients, vendors, etc. as a whole, or can focus on one or several specific clients or vendors. Ultimately, they work to ensure that client relationships are as fluid and harmonious as possible while adhering to their company's guidelines and standards.


Relationship Manager Tasks

  • Ensure continuity of high quality service, product delivery, and responsiveness to client needs.
  • Develop effective ways to promote brand awareness that lead to measurable business results.
  • Cultivate new clients through referrals and calling efforts to achieve individual and team revenue goals.

Common Career Paths for Relationship Manager


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There are some Relationship Managers — though it's uncommon — that transition into Portfolio Managers, where earnings are an average $90K annually. Relationship Managers go on to become Banking Branch Managers more often than anything even though median pay for the role is $51K. Relationship Managers who move into a Commercial Lender role, another well-traveled path for those in this field, tend to find salaries of $77K.

Relationship Manager Job Listings

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Popular Employer Salaries for Relationship Manager


Relationship Managers fill the offices of leading firms Fidelity Investments, J.P. Morgan Chase & Co. (JPMCC), The PNC Financial Services Group, Inc., Bank of America Corp. (BOFA), and Wells Fargo Bank. The biggest paychecks can be found at Citibank — the median salary there is $119K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $85K and highest ones in the neighborhood of $156K. Wells Fargo Bank, Union Bank, and HSBC are a few other companies that offer generous salaries, with Relationship Managers earning around $113K, $100K, or $88K at each firm, respectively.

With a reported median salary of only $45K, TD Ameritrade, Inc easily takes the cake for lowest-paying firm in town; earnings are 167 percent lower than the top payer. Other low-paying employers include KeyBank at $51K and Bank of America Corp. (BOFA) at $51K, though some Relationship Managers there earn up to $74K.

Popular Skills for Relationship Manager


Survey respondents exploit a significant toolbox of skills in their work. Most notably, facility with Financial Reporting, Loan Underwriting, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 81 percent, 37 percent, and 15 percent, respectively. Those listing Customer Service as a skill should be prepared for drastically lower pay. Client Interaction and Account Management also typically command lower compensation. Most people skilled in Customer Relations are similarly competent in Business Development.

Pay by Experience Level for Relationship Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience seems to be a major factor in determining the incomes of Relationship Managers. Salaries of relatively inexperienced workers fall in the neighborhood of $55K, but folks who have racked up five to 10 years see a notably higher median of $75K. Relationship Managers see a median salary of $89K after reaching one to two decades on the job. Relationship Managers who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $111K.

Pay Difference by Location

National Average: $71,801

Larger city markers indicate a job is popular in that location.

For Relationship Managers, San Francisco provides a pay rate that is 50 percent greater than the national average. Relationship Managers will also find cushy salaries in New York (+41 percent), Boston (+31 percent), Charlotte (+21 percent), and Philadelphia (+14 percent). Denver ranks last in the field for pay, reporting salaries 18 percent below the national average. Employers also pay below the national average in Washington (14 percent lower) and Dallas (9 percent lower).

Relationship Manager Reviews

What is it like working as a Relationship Manager?

Relationship Manager in Kansas City:
Pros: Working with the clients and helping them update their current services and selling them new services to help them improve their processes.

What is it like working as a Relationship Manager at TD Ameritrade, Inc?

Relationship Manager in San Diego:
"Excellent Culture And Brand."
Pros: I like the freedom and trust that management gives employees, especially compared to other financial companies.
Cons: Seems like the salaries are a little lower than most in the industry.

Related Job Salaries

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Experience Affects Relationship Manager Salaries




National Average
$72,000


Skills That Affect Relationship Manager Salaries

Financial Reporting
up arrow 81%




Sales
up arrow 3%

Project Management
0%

National Average
$72,000

Customer Relationship Management (CRM)
up arrow 2%

Customer Relations
up arrow 4%



Client Interaction
up arrow 30%

Customer Service
up arrow 49%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 288 votes.

Gender

Female
46 %
Male
54 %

Years of Experience

Less than 1 year
2%
1-4 years
31%
5-9 years
27%
10-19 years
30%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 81%
medical benefits
Vision: 70%
dental benefits
None: 9%
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