Relationship Manager Salary

Earnings for Relationship Managers in the United States come in at around $64K annually on average. With bonuses occasionally running north of $30K, profit sharing proceeds sometimes surpassing $11K, and a few commissions as high as $30K, total income for Relationship Managers can range between $41K and $125K according to individual performance. Earnings for this group are mostly affected by the company, followed by geography and years of experience. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Most Relationship Managers like their work and job satisfaction is high. Men make up a slight majority of Relationship Managers (52 percent) who responded to the survey. The numbers in this rundown were provided by PayScale's salary survey participants.
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$41,601 - $118,098
$42K
$65K
$120K
MEDIAN: $64,764
10%
50%
90%

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$15.30 - $25.58
$15
$21
$26
MEDIAN: $20.71
10%
50%
90%

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$0$128K
Salary $41,601 - $118,098
Bonus $2,560 - $30,313
Profit Sharing $1,216 - $11,836
Commission $2,423 - $29,661
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).
)
$41,020 - $128,067
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 1,335
Hourly Data $0$41
Hourly Rate $15.30 - $25.58
Overtime $26.65 - $41.31
Annual Data $0$128K
Bonus $2,560 - $30,313
Commission $2,423 - $29,661
Profit Sharing $1,216 - $11,836
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).
)
$41,020 - $128,067
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 215

Find Out Exactly What You Should Be Paid

United States (change)

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. (Copyright 2017 PayScale.com)


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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As Relationship Managers transition into upper-level roles such as Portfolio Manager, they may see a strong upturn in salary. Portfolio Managers earn $90K on average per year. As Relationship Managers progress in their field, many go on to become Banking Branch Managers. In fact, this transition is more common than anything else, and median pay for the role is $52K. Another common career choice for Relationship Managers is to move into a Business Development Manager role — this promotion usually pays $78K.

Relationship Manager Job Listings

Popular Employer Salaries for Relationship Manager


Bank of America Corp. (BOFA), Fidelity Investments, The PNC Financial Services Group, Inc., J.P. Morgan Chase & Co. (JPMCC), and KeyBank are top-notch employers for Relationship Managers in this area. Although Wells Fargo & Co. heads up the field in terms of compensation, offering the highest median salary at $128K, pay at this particular employer still varies considerably, running the full spectrum from $90K to $160K. Other big spenders include Union Bank, Wells Fargo Bank, and Citibank, top-paying firms where Relationship Managers see paychecks nearing $100K, $99K, or $96K.

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 substantial tool kit of skills at work. Most notably, facility with Loan Underwriting, Portfolio Management, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 35 percent, 28 percent, and 26 percent, respectively. Those listing Customer Service as a skill should be prepared for drastically lower pay. Fundraising and Banking also typically command lower compensation. Most people skilled in Customer Relations are similarly competent in 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%

25%

24%

21%

-1%

-3%

-14%

-15%

National Average: $65,447

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

For Relationship Managers, busy Philadelphia offers a higher-than-average pay rate, 63 percent above the national average. Relationship Managers can also look forward to large paychecks in cities like Chicago (+26 percent), Boston (+25 percent), New York (+24 percent), and Seattle (+21 percent). Dallas is the lowest-paying area, 14 percent south of the national average. Below-median salaries also turn up in Miami and Phoenix (13 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 255 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
$65,000

▼20%

Skills That Affect Relationship Manager Salaries


Portfolio Management
▲28%






▲1%

National Average
$65,000

Retirement Plan Administration
▼2%




Banking
▼13%

Fundraising
▼31%

Customer Service
▼44%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 255 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: 79%
vision benefits
Vision: 70%
no benefits
None: 11%
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