Relationship Manager Salary

Pay for Relationship Managers in the United States sits in the ballpark of $64K annually. The range in cash compensation to Relationship Managers (largely between $41K and $125K) includes potential earnings of $30K from bonuses, $11K from profit sharing, and commissions of $31K in exceptional cases. This group's pay is mainly influenced by the particular firm, followed by geography and tenure. Most workers in this position report high levels of job satisfaction. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a fair number. Women are just slightly outnumbered, with male Relationship Managers making up 52 percent of survey respondents. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$41,420 - $114,010
$41K
$64K
$110K
MEDIAN: $64,221
10%
50%
90%

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$14.84 - $25.69
$15
$21
$26
MEDIAN: $20.63
10%
50%
90%

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$0$125K
Salary $41,420 - $114,010
Bonus $2,942 - $30,453
Profit Sharing $1,475 - $11,386
Commission $2,875 - $31,217
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).
)
$40,960 - $125,494
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 1,312
Hourly Data $0$41
Hourly Rate $14.84 - $25.69
Overtime $27.17 - $41.59
Annual Data $0$125K
Bonus $2,942 - $30,453
Commission $2,875 - $31,217
Profit Sharing $1,475 - $11,386
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).
)
$40,960 - $125,494
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 193

Find Out Exactly What You Should Be Paid

United States (change)

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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

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

Common Career Paths for Relationship Manager


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Relationship Managers may progress into high-paying roles like Portfolio Manager, where median compensation is $90K annually. More often than not, a Banking Branch Manager role is the next step for Relationship Managers moving up in the field. Pay for Banking Branch Managers is usually $52K. Many Relationship Managers choose to take on a Business Development Manager role instead, where salaries are typically $78K.

Relationship Manager Job Listings

Popular Employer Salaries for Relationship Manager


Many Relationship Managers can be found at Bank of America Corp. (BOFA), Fidelity Investments, The PNC Financial Services Group, Inc., J.P. Morgan Chase & Co. (JPMCC), and KeyBank, firms that are at the top of the field. Although Wells Fargo & Co. boasts the highest average salary in town at $128K, employee compensation still varies greatly — workers can make as little as $90K or as much as $160K. Other employers shelling out big bucks include Union Bank, Wells Fargo Bank, and Citibank, where Relationship Managers typically earn around $100K, $99K, or $96K, respectively.

Others at the bottom of the scale for this job include Bank of America Corp. (BOFA) at $48K, and KeyBank where $51K is the norm, but it is worth noting that some Relationship Managers there earn up to $132K.

Popular Skills for Relationship Manager


Survey results imply that Relationship Managers deploy a deep pool of skills on the job. Most notably, facility with Loan Underwriting, Portfolio Management, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 34 percent, 27 percent, and 25 percent, respectively. Those listing Customer Service as a skill should be prepared for drastically lower pay. Fundraising and Banking also typically command lower compensation. For most people, competency in Customer Relations indicates knowledge of Business Development and Sales.

Pay by Experience Level for Relationship Manager

Pay by Experience for a Relationship Manager has a positive trend. An entry-level Relationship Manager with less than 5 years of experience can expect to earn an average total compensation of $52,000 based on 639 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Relationship Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $73,000 based on 506 salaries. An experienced Relationship Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $85,000 based on 466 salaries. A Relationship Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $94,000 based on 120 salaries.

Pay Difference by Location

25%

24%

23%

20%

-2%

-3%

-14%

-15%

National Average: $65,687

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

For Relationship Managers, working in the bustling city of Philadelphia has its advantages, including an above-average pay rate. Relationship Managers can also look forward to large paychecks in cities like Chicago (+25 percent), Boston (+24 percent), New York (+23 percent), and Seattle (+20 percent). The lowest-paying market is Dallas, which sits 15 percent below the national average. Miami and Phoenix are a couple other places where companies are known to pay below the median — salaries are 14 percent lower and 3 percent lower, respectively.

Relationship Manager Reviews

Q: What is it like working as a Relationship Manager?

Relationship Manager in Sydney:
"Its satisfying."
Pros: THE PEOPLE, THE CLIENTS, FLEXIBILITY, CLOSE FROM HOME.
Cons: Being given ad hoc tasks.

Relationship Manager in Vancouver:
"Fun and social job."
Pros: Interacting with customers and co-workers all day long.
Cons: Nothing.

Relationship Manager in Salt Lake City:
"Satisfying but not fairly paid."
Pros: Helping clients and positively impacting their business.
Cons: Management not understanding internally how much effort this position requires. Thus pay is much lower than what it should be.

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.
Cons:

Relationship Manager in Dayton:
"High Stress, Long Hours, Big Egos."
Pros: The Responsibilities I am entrusted with.
Cons: My lack of ability to manage my own schedule or workload.

Related Job Salaries

Key Stats for Relationship Manager

Gender

Female
48 %
Male
52 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 237 votes.
Less than 1 year
4%
1-4 years
33%
5-9 years
26%
10-19 years
27%
20 years or more
10%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Relationship Manager Salaries

▲43%

▲29%

▲11%

National Average
$66,000

▼21%

Skills That Affect Relationship Manager Salaries


Portfolio Management
▲27%






▼0%

National Average
$66,000

Retirement Plan Administration
▼2%




Banking
▼13%

Fundraising
▼31%

Customer Service
▼44%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 237 votes.

Gender

Female
48 %
Male
52 %

Years of Experience

Less than 1 year
4%
1-4 years
33%
5-9 years
26%
10-19 years
27%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 80%
vision benefits
Vision: 71%
no benefits
None: 11%
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