Average Relationship Managers in the United States make around $66K per year. Total cash compensation to Relationship Managers approaches anywhere from $40K on the lower end to $127K on the higher end; in exceptional cases, this can include more than $32K from bonuses and upwards of $11K from profit sharing. The most influential factor affecting pay for this group is the particular firm, though years of experience and geographic location have a (lesser) impact as well. Male Relationship Managers are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 52 percent of the field. Job satisfaction is high and work is enjoyable for most Relationship Managers. Medical benefits are awarded to a large number, and a fair number earn dental coverage. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$40,409 - $111,697
(Median)
$40K
$66K
$110K
MEDIAN: $65,650
10%
50%
90%

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$12.84 - $26.30
(Median)
$13
$20
$26
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
$40,409 - $111,697  
   
Bonus
$2,548 - $32,158  
Profit Sharing
$1,216 - $11,291  
Commission
$1,521 - $39,732  
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).
)
$40,094 - $126,560  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 1,258
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
$12.84 - $26.30  
   
Overtime
$26.69 - $46.98  
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
$2,548 - $32,158  
   
Commission
$1,521 - $39,732  
Profit Sharing
$1,216 - $11,291  
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).
)
$40,094 - $126,560  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 126
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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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For Relationship Managers, progressing to a Portfolio Manager role may result in a significant raise. On average, a Portfolio Manager can earn $90K annually. The most common promotion for Relationship Managers is a Banking Branch Manager position, which usually brings in $52K a year. Another standard transition for Relationship Managers seeking advancement is to assume a Business Development Manager role, where pay is often $78K.

Relationship Manager Job Listings

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Popular Employer Salaries for Relationship Manager


Dominating the field, Bank of America Corp. (BOFA), Fidelity Investments, The PNC Financial Services Group, Inc., U.S. Bank, and KeyBank are top firms with a reputation for hiring a great number of Relationship Managers. Although Wells Fargo & Co. leads the field in pay with a median salary of $128K, employees there receive a wide spread of salaries, from $90K on the low end all the way up to $160K at the top. Soaring salaries can also be found at Union Bank, Wells Fargo Bank, and Citibank, where earnings of $100K, $99K, or $97K are standard for Relationship Managers.

Other low-paying employers include Bank of America Corp. (BOFA) at $49K and KeyBank at $51K, though some Relationship Managers there earn up to $132K.

Popular Skills for Relationship Manager


Survey participants wield an impressively varied skill set on the job. Most notably, facility with Financial Reporting, Loan Underwriting, and Portfolio Management are correlated to pay that is significantly above average, leading to increases of 91 percent, 31 percent, and 29 percent, respectively. Those listing Customer Service as a skill should be prepared for drastically lower pay. Oral / Verbal Communication and Retirement Plan Administration also typically command lower compensation. Most people familiar with Customer Relations also know Business Development and Sales.

Pay by Experience Level for Relationship Manager

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


Relationship Managers with a rich background of experience are typically rewarded with larger paychecks. Workers in their first five years can expect to earn $54K, but people who have been around for five to 10 years earn a noticeably bigger sum of $73K. Relationship Managers who work for 10 to 20 years in their occupation tend to earn about $85K. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $96K on average.

Pay Difference by Location

National Average: $67,954

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

Relationship Managers in search of above-average pay will head east: In particular, Relationship Managers in Philadelphia, New York, and Boston enjoy higher pay rates than the national average. The smallest paychecks in the market, 9 percent south of the national average, can be found in Cleveland. Employers pay around 5 percent less in Denver and 4 percent less in Miami, below-median salaries for those in this field.

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
$68,000


Skills That Affect Relationship Manager Salaries

Financial Reporting
up arrow 91%


Portfolio Management
up arrow 29%





Banking
up arrow 3%

Sales
up arrow 1%

Account Management
up arrow 1%

National Average
$68,000

Customer Relationship Management (CRM)
up arrow 1%


Retirement Plan Administration
up arrow 5%


Customer Service
up arrow 46%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 184 votes.

Gender

Female
48 %
Male
52 %

Years of Experience

Less than 1 year
3%
1-4 years
32%
5-9 years
27%
10-19 years
30%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 80%
medical benefits
Vision: 70%
dental benefits
None: 11%
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