The following article discusses the career path of Revenue Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Revenue Managers.<!- mfunc feat_school ->
Revenue managers provide advice and support to directors of sales, finance managers, and other general managers. Their responsibilities lie in the strategic planning of an organization so that it can meet its revenue goals. They must be leaders, mentors, and coaches to the rest of the team, particularly in customer relations, and making sure that any barriers that stop the revenue flow are removed. Additionally, they must perform various actions that further improve revenue, for instancem by increasing productivity and efficiency in various areas.
Revenue managers are also responsible for the administrative team’s process, including training and setting policies. They lead various other supervisors and their organization’s team leaders. They have regular meetings to encourage their teams to improve performance, and they cross train with other managers.
Other job duties of a revenue manager include:
- Collecting and understanding data on customer traffic in the organization to ensure prices are set at optimal levels
- Working closely with other teams, including marketing, in order to identify ways in which revenue can be increased, particularly during dips.
- Researching the competition to ensure they do not get too far ahead
- Predicting expected revenues for both short and long term
Where We Work
According to the U.S. Bureau of Labor Statistics, there were 385,500 sales managers, a profession closely related to that of revenue manager in 2016. The largest employers of these professionals were:
- Wholesale trade: 20%
- Retail trade: 18%
- Manufacturing: 12%
- Professional, scientific, and technical services: 10%
- Finance and insurance: 9%
How to Become
A revenue manager usually has at least a bachelor’s degree. They also have many years’ experience, generally coming from a sales representative background.
Usually, a revenue manager will hold a bachelor’s degree as a minimum. The subject of this degree varies, but it is preferred for them to have completed a degree in statistics, degree in marketing, degree in mathematics, degree in finance, degree in accounting, degree in economics, degree in management, or a degree in business law. Work experience is usually of greater importance than education, however. Often, they will have at least five years of experience in the field.
Typically, revenue managers grow into their position, coming from occupations related to sales. They may have been a purchasing agent, a manufacturing or wholesale sales representative, or a retail sales worker, for instance. They are then usually promoted to sales manager internally and, eventually, to the position of revenue manager.
Traits & Qualities
The most effective revenue managers have the following traits to some degree or other:
- Strong analytical skills
- Excellent communication skills, both verbal and written
- Great customer service skills
- Strong leadership skills
The national average salary estimate for Revenue Manager was $83,304. This number is estimated from over 255,624 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $43.39 and monthly of $6,942.
- Most Reported
Salary by State
The following section lists Revenue Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Minnesota had the largest quoted salary of $104,198 while Utah had the smallest quoted salary of $31,776.
|Indiana||New Jersey||Vermont|Top 20 National Employers
According to Indeed.com, the following states had employers looking to hire a Revenue Manager. The quoted salary figure represents the average salary from all job postings by this employer.
|Employer Name||Location||Average Salary|
|StateStreet Staffing Revenue Manager||Massachusetts||$160,000|
|KCW Revenue Manager||Texas||$150,000|
|Robert Half Finance & Accounting Revenue Manager||Virginia||$145,265|
|CyberCoders Revenue Manager||California||$137,970|
|Marshwinds International Inc. Revenue Manager||New Jersey||$135,000|
|Richard, Wayne & Roberts Revenue Manager||California||$130,420|
|NelsonJobs Revenue Manager||California||$126,554|
|Infinity Consulting Solutions (ICS) Revenue Manager||Illinois||$125,000|
|Beacon Resources Revenue Manager||California||$122,296|
|Fortune 500 Construction Revenue Manager||Virginia||$120,000|
|Andrews & Cole LLC Revenue Manager||Maryland||$120,000|
|KBW Financial Revenue Manager||Massachusetts||$117,701|
|Parker and Lynch Revenue Manager||California||$115,845|
|Stone Staffing, Inc. Revenue Manager||Massachusetts||$115,678|
|Potomac Partners LLC Revenue Manager||Virginia||$114,179|
|NES Global Talent Revenue Manager||South Carolina||$114,034|
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