The following article discusses the career path of Account Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Account Managers.
Account managers can work in a variety of industries and fields. They are typically responsible for the oversight of a large portfolio of clients or customers who have purchased products or services in the past. Their job is to ensure that clients are satisfied with their product or service, and to possibly develop new business from them in the future.
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The responsibilities of account managers include developing strong working relationships with customers, developing relationships with business executives, and tracking sales through the writing of sales reports. Account managers also often answer questions from clients, and find new opportunities for business among the existing client base.
The account manager is the face of the company for the manager’s group of clients. In most situations, he will be the major company representative who communicates with these customers. Thus, it is important for the account manager to deliver as positive a customer experience as possible. This is done by listening to every client so as to gain a full understanding of their needs.
Also, the account manager must usually meet or exceed a certain number of sales in a given quarter or year. The account manager also is often required to make several reports regarding the sales progress of the department. Some of the possible reports may include quarterly sales reports, annual sales forecasts and account status reports each week or month.
Other job duties of account managers are:
- Serve as the major point of contact for all account management matters for that group of clients
- Build and maintain strong working relationships with clients, potential clients and business stakeholders
- Negotiate sales contracts and close deals to increase profits for the company
- Develop strong business relationships with major accounts and customers
Where We Work
The Bureau of Labor Statistics or BLS reports that there are 806,000 management analysts working in 2016, which is a role similar to account manager. The largest employers of these professionals are:
- Professional, technical and scientific services: 30%
- Self employed: 17%
- Government: 17%
- Finance and insurance: 11%
- Management of companies and enterprises: 5%
Another related occupation in the BLS data is sales manager. There are 385,500 sales managers working in the US as of 2016, in the following industries:
- Wholesale trade: 20%
- Retail trade: 18%
- Manufacturing: 12%
- Professional, technical and scientific: 10%
- Finance and insurance: 9%
How to Become
The exact degree requirements to become an account manager can vary based upon the industry and exact job description. Many account managers start off with a bachelor’s degree in business or marketing if they are interested in sales, marketing or managing promotions. Account managers in the financial fields usually have a bachelor’s in accounting, finance or business. For higher level account manager roles, you may need an MBA.
Most account managers need to have a bachelor’s degree. The major for the degree depends upon the type of account management that you are doing. Many professionals earn their bachelor’s in business, sales or marketing. Others who are working in the financial management sector may earn their bachelor’s in finance or accounting.
Find accredited online business, finance and accounting degree programs to choosing the following:
- Accounting Degree Programs
- Business Finance Degree
- Business Management Degree
- Corporate Finance Degree
- Investment Management Degree
- Financial Management Degree
Traits & Qualities
The most effective account managers have the following traits to some degree or other:
- Recognize all stakeholders: It is very important for good account managers to serve their clients’ needs. But it is important as well to remember that clients are just one important constituency for the account manager. They also must meet the requirements and expectations of the senior management team at the company.
- Good communication skills: The best account managers are able to regularly communicate important information, no matter if it is a campaign update to a client, insights from customers to team members, or the overall account health status report to top managers. It also is important to be able to listen as well as talk.
- Gets their hands dirty when needed: The best account manager has experience working on the creation and execution of marketing campaigns and can work in the trenches with team members when needed to ensure that marketing and sales campaigns are running smoothly.
- Gains respect: Strong account managers are able to build strong relationships with others by developing rapport and trust with clients and the overall team.
Choose Master’s or Bachelor’s. Degree
- Most Reported
Salary by State
The following section lists Account Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, DC had the largest quoted salary of $80,089 while South Dakota had the smallest quoted salary of $25,728.
Top 20 National Employers
According to Indeed.com, the following states had employers looking to hire a Account Manager. The quoted salary figure represents the average salary from all job postings by this employer.
|Employer Name||Location||Average Salary|
|The Royak Group Inc. Account Manager||DC||$280,000|
|AIG Account Manager||Missouri||$250,000|
|PrimeTime Recruiting Services Inc Account Manager||Nevada||$200,816|
|Bryant Associates, Inc. Account Manager||DC||$189,629|
|United Community LLC Account Manager||Wisconsin||$176,102|
|Brainshark Account Manager||Massachusetts||$169,470|
|movement Account Manager||North Carolina||$155,355|
|Cube Management Account Manager||Missouri||$153,328|
|Life Sciences company Account Manager||Pennsylvania||$153,022|
|Elite Transpo, Inc. Account Manager||DC||$150,000|
|Brunel Account Manager||Pennsylvania||$150,000|
|Nigel Frank International Account Manager||DC||$144,039|
|Cisco Account Manager||North Carolina||$142,516|
|Verticalmove, Inc. Account Manager||Washington||$142,140|
|Pragmatic Works Account Manager||New Hampshire||$135,000|
|Selby Jennings Account Manager||Maryland||$134,174|
|Glocomms Account Manager||Maryland||$134,174|
|Hyster-Yale Account Manager||North Carolina||$134,073|
|Hoosier Contractors, LLC Account Manager||Indiana||$131,668|
|Career Name||Average Salary|