what is a relationship manager?
As a relationship manager, you build relationships with customers and clients. You nurture new relationships to build business opportunities and maintain existing ones. You always represent the company’s interest to ensure clients’ needs are met.
While some relationship managers focus on nurturing relationships, others develop sales plans to meet client needs. You identify your client's pain points and build marketing strategies to help them address those issues. You also manage internal relationships by resolving conflicts between team members and promoting internal relationships. Since you are integral to the company's norms and policies, you consistently strive to encourage a culture of collaboration.
Relationship managers work in diverse industries since they handle the connections between businesses and their stakeholders. Some industries you are likely to work in include banking and financial services, energy, defence, government, mining and construction.
Working as a relationship manager requires exceptional communication skills, including conflict resolution and active listening. Empathising with your clients enables you to understand their needs.
relationship manager rolesaverage salary of a relationship manager
Many factors affect the salary of a relationship manager. For example, location, education & company can affect the salary. The median remuneration package of a relationship manager is $100,000 per year. At the entry level, you earn an average salary of $90,000 annually. Experienced employees earn over $120,000 per year.
how to increase the salary of a relationship manager
As a relationship manager, your average remuneration package depends on your education. You are likely to earn more when you have relevant tertiary qualifications. Your work experience also improves your earnings. You can negotiate a higher remuneration package if you have a solid background in sales, customer service or marketing. Work experience improves your skills and hands-on experience in dealing with clients. Hence, employers are willing to pay more for your expertise.
Your employer also dictates your salary expectations; working in a large organisation improves your prospects. Some industries offer higher remuneration than others. For example, a relationship manager working for financial services or information technology is likely to earn more due to the complexity of the role. Working in central areas also increases your salary.
types of relationship managers
Some of the types of relationship managers include:
- client relationship managers: as a client relationship manager, you facilitate connections between a company and the people it serves. That means you focus on creating and building trust with clients to encourage positive interactions and loyalty.
- business relationship managers: as a business relationship manager, you deal with the internal teams that aid a company's success. For instance, you develop relationships with suppliers, stakeholders or government departments to boost their interaction with the company. Your main role is to maintain positive ties to help streamline contracts and negotiations.
working as a relationship manager
Working as a relationship manager involves making connections and promoting positive stakeholder relationships. Let's explore a relationship manager's specific duties, work schedules and career prospects.
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duties and responsibilities
Some of the daily duties of a relationship manager include:
- meeting with clients: you organise regular meetings with clients and business representatives to discuss their needs. Listening to clients and resolving their issues helps you nurture the connections between the business and its stakeholders. Maintaining open communication helps you understand your client's needs.
- developing marketing strategies: you develop marketing strategies based on your client's requirements by positioning your company as the best service provider.
- presenting new products to stakeholders: you develop new business opportunities for your employer by introducing new products or services to your clients to establish upselling opportunities.
- pursuing key employees in stakeholder businesses: as a relationship manager, you always look for business development opportunities. Hence, you identify vital employees in major companies and foster good relationships that could benefit your company. You also contact prospective clients to form new relationships.
- researching competing businesses: you help your employer maintain brand authority by researching the company's competition. Your job is to analyse the customer base and find strategies to stay ahead of the competition.
- resolving internal conflicts: relationship managers handle employee disputes and promote collaboration. You also deal with any conflicts between clients and employees.
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work environment
As a relationship manager, you work in diverse industries. You can work in banks, insurance companies, construction, mining, manufacturing and technology firms. Most relationship managers work in an office environment, meeting with clients and business stakeholders. Sometimes, you meet clients in informal settings to discuss business ideas. You also travel to interact with clients or meet prospective business leads in different areas.
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who are your colleagues?
Depending on your employer and the industry you work in, your colleagues might include managers, sales managers, assistant managers, project managers, account executives and account managers. You might also be working in close proximity to marketing managers and business development managers, as well as other specialists that could include, but not be limited to, product managers, sales representatives and insurance agents.
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work schedule
A relationship manager works from 9 am to 5 pm on a full-time work schedule. You also work evenings when attending events with clients or company functions. Sometimes, you deal with client needs over the weekend. Relationship managers can also work part-time or from home.
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job outlook
As a relationship manager, you have numerous opportunities for career progression. For instance, you can become a marketing manager or business development manager. Some relationship managers take executive management positions, becoming marketing directors or chief executive officers. Relationship managers can also improve their experience and qualifications to become consultants.
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advantages of finding a relationship manager job through randstad
Finding your relationship manager job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid weekly or monthly, depending on the job
- temporary and permanent contracts
Want a permanent contract? A temporary job as a relationship manager is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too.
education and skills
Relationship managers don't require tertiary qualifications to perform their duties, but the following educational qualifications boost your employment prospects:
- bachelor's degree: to become a relationship manager, consider pursuing a bachelor's degree in marketing, management or business. The bachelor's degree takes three - four years of full-time study.
- work experience: to attain the position of a relationship manager, you require relationship-building and customer service skills. You can take up entry-level roles in customer service, sales and administration to prepare you for greater responsibilities.
skills and competencies
As a relationship manager, you build connections between individuals. Hence, most employers pay attention to the following transferrable skills and qualities:
- communication skills: as a strong communicator, you foster healthier relationships with your clients. Good communication skills help you present information professionally when interacting with executive leaders.
- empathy: empathising with other people's feelings enables you to understand their perspective. For instance, if a client is dissatisfied with a product, you aim to understand their frustration and identify a solution that makes them feel valued. Placing yourself in your client's shoes helps you develop marketing strategies that meet their needs.
- conflict resolution skills: you require conflict resolution skills to diffuse a range of situations, handle issues between people and help them agree. For instance, you are sometimes responsible for solving disputes between sales representatives and customers. Since you are in charge of internal teams, you use your conflict management skills to foster good relationships within the company.
- active listening skills: you should be an active listener to understand the message a client is conveying. You can also understand a client's needs and goals if you pay attention. Active listening skills help you ask the right questions and get the necessary information from clients.
- problem-solving skills: as a relationship manager, you deal with complaints about the company's product. If a client is dissatisfied, you find out what the problem is and find solutions.
FAQs about working as a relationship manager
Here are the most asked questions about working as a relationship manager:
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what is the main job of a relationship manager?
As a relationship manager, you develop and maintain strong relationships with customers on behalf of your employer. You build relationships inside and outside the company that help you identify new business opportunities and create awareness of the company's products. You also advise clients on the best products and services to fulfil their needs.
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is a relationship manager a good job?
Working as a relationship manager improves your leadership and communication skills. Building relationships in the business community also enhances your career prospects. Most companies offer performance-based promotions in the role. For instance, you start as a relationship manager and become a business development manager, bringing new businesses to the company.
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what are the duties of a relationship officer?
A relationship officer generates customer leads through various channels. Your job is to identify sales prospects and perform business development activities proactively. You follow up on leads and referrals to find new business opportunities for your clients. A relationship officer also handles customer complaints and resolves them.
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what qualifications do I require to become a relationship manager?
Although tertiary qualifications are not compulsory for relationship managers, most employers hire candidates with bachelor's degrees in marketing, business or management. You can also strengthen your skills through work experience in entry-level roles in sales or customer service.
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is a relationship manager a sales job?
As a relationship manager, you are part of the sales team. You build and maintain relationships with clients to generate new business. You also handle customer complaints or the technical challenges associated with a new software application. Great customer service draws people to your brand, enabling you to generate repeat business.
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how do I apply for a relationship manager vacancy?
Applying for a relationship manager job is easy: create a Randstad profile and search our relationship manager job offers. Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips here.
