Senior Account Manager Salary
With more than half of Senior Account Managers in the United States reporting more than 10 years of experience in the field, this area is heavily weighted toward experienced professionals. Pay ranges from $48K to $125K per year and averages out to $71K per year. Overall compensation packages to Senior Account Managers range from $48K on the low end to $125K on the high end; this includes bonuses that peak near $27K and profit sharing that approaches $10K, with some high rollers snagging commissions as high as $42K. The company is the biggest factor affecting pay for this group, followed by years of experience and location. Work is enjoyable for Senior Account Managers, who typically claim high levels of job satisfaction. Medical benefits are awarded to a large number, and most earn dental coverage. The majority of Senior Account Managers (62 percent) who took the survey are women.
Job Description for Senior Account Manager
A senior account manager supports a sales team in hopes of driving up revenue and growing the client base. They are the backbone of a sales organization and must be highly organized and professional, as well as have strong analytical and problem-solving capabilities. They provide leadership for the sales team, build strong business relationships, and establish lines of communications with staff, clients, and partners. A senior account manager provides team members with help in closing sales, as well as with various projects and initiatives.Read More...
The education requirements for this position typically include a bachelor's degree. Experience in sales and accounts management is also typically required. A track record of satisfying customers, good sales performance, and excellent communication skills is a must.
Senior Account Manager Tasks
- Consult to analyze needs and identify new services or changes to existing services.
- Communicate and collaborate with customers, business process stakeholders and managers on shared service offerings.
- Facilitate implementation of new services or service enhancements.
- Manage relationships with external customer leaders, stakeholders and subject matter experts.
Common Career Paths for Senior Account Manager
Senior Account Managers who advance into the role of a VP of Sales are fairly uncommon. VPs of Sales on average earn $144K per year. When Senior Account Managers are ready for the next step in their careers, they often become Business Development Managers or Regional Sales Managers. Those roles pay an additional $2K and $8K, respectively.
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Popular Employer Salaries for Senior Account Manager
Senior Account Managers flock to Hub International, Inc., Lockton Companies, Inc., USI Insurance Services Corp., CenturyLink, and United Parcel Service (UPS), Inc., highly regarded companies that employ a generous number of people in this profession. CenturyLink attracts talent by shelling out the biggest paychecks in the area — the median in that office is $105K.
Offering only $76K on average, Hub International, Inc. seems to pay the least. Moreover, the pay scale seems pretty narrow there; employees make $37K on the lower end and $99K on the higher end.
Popular Skills for Senior Account Manager
Survey respondents exploit a significant toolbox of skills in their work. Most notably, facility with Technical Sales, Strategic Sales, and Business Development are correlated to pay that is significantly above average, leading to increases of 37 percent, 32 percent, and 10 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Customer Service, Microsoft Office, and Microsoft Excel. The majority of those who know Account Management also know Business Development and Customer Relationship Management (CRM).
Pay by Experience Level for Senior Account Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Senior Account Managers do not generally earn higher incomes from more experience in the field. The average worker who claims fewer than five years of experience earns around $64K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $74K. Senior Account Managers bring in $83K after working for 10 to 20 years. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $87K.
Pay Difference by Location
San Francisco offers some of the highest pay in the country for Senior Account Managers, 21 percent above the national average. Senior Account Managers will also find cushy salaries in Washington (+11 percent), Miami (+9 percent), New York (+9 percent), and Seattle (+8 percent). Boston is home to the smallest salaries in the field, lagging the national average by 3 percent.
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