Relationship Manager Salary

Average Relationship Managers in the United States make around $67K per year. Cash earnings for Relationship Managers — including $31K in bonuses and $10K in profit sharing proceeds near the top of the pay scale — generally stretch from $39K to $131K depending on individual performance. The specific employer is the main element affecting pay for this group — career duration and location are driving factors as well. Medical benefits are awarded to a large number, and most earn dental coverage. For the most part, Relationship Managers enjoy their work and report high levels of job satisfaction. Men working as Relationship Managers who took the survey just slightly outnumber women at 54 percent. Participants in PayScale's salary questionnaire provided the particulars of this report.
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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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While not commonly seen, Relationship Managers who transition into a Portfolio Manager position may see a rise in pay. The median salary for Portfolio Managers is $90K per year. 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


Fidelity Investments, J.P. Morgan Chase & Co. (JPMCC), The PNC Financial Services Group, Inc., Bank of America Corp. (BOFA), and Wells Fargo Bank are all popular places to work. Although Citibank boasts the highest average salary in town at $119K, employee compensation still varies greatly — workers can make as little as $85K or as much as $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.

TD Ameritrade, Inc offers the lowest pay in the industry by far, with a median salary 167 percent lower than the top payer ($45K). 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 results imply that Relationship Managers deploy a substantial tool kit of skills at 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. The majority of those who know Customer Relations also know Business Development.

Pay by Experience Level for Relationship Manager

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


Relationship Managers generally obtain higher compensation for more plentiful past experience. Those in the early stages of their career can expect to make around $55K; however, individuals with five to 10 years of experience bring in $75K on average — a distinctly larger sum. After working for 10 to 20 years, Relationship Managers make a median salary of $89K. Professionals who have racked up more than two decades of experience enjoy comfortable salaries; at this stage, median wages are a cushy $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 is the lowest-paying area, 18 percent south of the national average. A couple other locations with smaller-than-average paychecks include 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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