OVERVIEW
What Is an Account Manager?
An account manager is typically a business representative that deals with customers the most. They regularly interact with customers and handle all customer inquiries by addressing concerns and maintaining account transactions and activities.
This is typically a mid-level position within an organization. Most recruiters for this role want to see a bachelor’s degree in business, marketing, or a related field. If the position is a higher level, they may require you to have an advanced degree, certain certifications, or more years of experience.
RESPONSIBILITIES
What Does an Account Manager Do?
The exact responsibilities of an account manager will vary from company to company, but there are some general tasks that most account managers are responsible for in any organization. The most important thing that an account manager does is communicate with their delegated base of customers.
Here are a few responsibilities that you can expect to have as an account manager in any industry or organization:
- Customer contact: The account manager is the main point of contact for any new and existing customers. They field calls and address concerns directly with the customer. An account manager has the most one-on-one contact with customers.
- Create long-lasting relationships: Because the account manager has so much contact with the customer, it is their job to ensure the relationships are maintained and that the customer is reasonably satisfied.
- Meet sales and/or business goals: A big part of an account manager’s job is to meet their business goals. The goals of an account manager are often a reflection of the company's strategy and overall direction of growth.
- Reporting: As an account manager, you will be responsible for reporting on your accounts and the results you're providing them.
- Develop new business: Account managers are often tasked with outbound calls or taking lead calls from prospective customers to bring in new business and revenues.
EDUCATION & BEST DEGREES
How Do I Become an Account Manager?
Almost every organization needs account managers in some capacity. This role is vital in maintaining relationships with customers and addressing any concerns or questions they may have. In this role, you will most likely wear many hats, serving as a salesperson, customer service representative, technical specialist, and financial advisor to your customers.
When you choose a career as an account manager, you will have many opportunities to work in many different industries. An account manager career path is great for stability, as this is a position that is expected to continue growing in the next several years.
The role of an account manager is challenging and ever-changing. There is also a lot of room for growth in this career path. As you become a more experienced account manager, you will have opportunities to manage more accounts and work your way up to leadership positions within your organization.
What Education Does an Account Manager Manager Need?
Account manager education requirements are pretty standard across industries. A bachelor’s degree in business management or business administration is a great starting point for those who want to pursue account management. In this type of degree program students will learn all the fundamentals of business they will need to be successful in a career. Students will learn about finances, budgets, management strategies, and other key areas of business that are important for account managers.
Similarly a bachelor’s degree in marketing can be a great option for those who want to become account managers. This type of degree program branches into sales management, consumer behavior, fostering relationships, and more. Marketing can be ideal for account managers as it will help them be able to promote themselves and their products to new clients, as well as continue to foster positive relationships with their customers.
Best Degrees for an Account Manager
Business
Business Management – B.S. Business Administration
Hone your business acumen and garner added respect:...
Hone your business acumen and garner added respect:
- Time: 61% of graduates finish within 19 months
- Tuition: $3,755 per 6-month term
- Courses: 40 total courses in this program
Skills for your résumé this program will teach you include:
- Business communication
- Product development
- Decision making models
- Project management strategies
- Budgeting for business
This online degree program is an excellent choice for kick-starting your organizational management career.
Business
Leadership Certificate – School of Business
Enhance your résumé and take a step in your educational journey with the...
Enhance your résumé and take a step in your educational journey with the help of a leadership certificate from the School of Business.
- Time: 4 months from start to finish.
- Cost: $2,250 for the certificate.
- Courses: 3 courses total in this program.
This program is for emerging leaders, however this program does not require a bachelor’s degree, and provides transferable credit towards a WGU degree program.
Whether you aspire to work for a Fortune 500 organization, a government agency, a non-profit organization, or a fast-paced start-up, this certificate can give you the keys to success in a variety of industries, including:
- Finance and Banking
- Healthcare
- Manufacturing
- IT
- Consulting
- Nonprofit
- Government
Business
Master of Business Administration
The flexible MBA program you need, focused on business management,...
The flexible MBA program you need, focused on business management, strategy, and leading teams:
- Time: Graduates can finish in 12 months
- Tuition: $4,755 per 6-month term
- Courses: 11 total courses in this program
Skills for your résumé you will learn in this program include:
- Leadership strategies
- Talent management
- Communication
- Data collection and interpretation
- Financial statements
Our competency-based model gives you an innovative learning experience you won't find anywhere else—and our MBA grads tell us they loved accelerating their program to see a faster ROI.
Business
Accounting Fundamentals Certificate – School of Business
Enhance your résumé and showcase your skills with an accounting...
Enhance your résumé and showcase your skills with an accounting fundamentals certificate from the School of Business.
- Time: 6 months from start to finish.
- Cost: $2,000 for the certificate.
- Courses: 5 courses total in this program.
This program is designed for individuals who want to boost their résumé with the help of an accounting fundamentals certificate from WGU’s School of Business.
Whether you want to advance your career in this field, or you're just getting started, an accounting fundamentals certificate can help you be ready for your next career step. You'll be prepared to work in a variety of industries including:
- Startups
- Healthcare
- Manufacturing
- IT
- Retail
- E-Commerce
How Much Does an Account Manager Make?
$138,730
The median annual income for an advertising/promotions/marketing manager in 2022 was $138,7300. The median annual income for a sales manager in 2022 was $130,600. It is important to note that managers who make these incomes are most likely leaders in their organization and are most likely managing multiple teams of account managers.
These numbers are based on national data. Your specific income level will be dependent on your education, experience, and where you live. The more experience and education you have, the more likely it is that your salary will be closer to the median income.
What Is the Projected Job Growth?
6%
According to the Bureau of Labor Statistics, the account manager role is expected to grow by 6% between 2022 and 2032. This means that the account manager will continue to be an essential role within any organization.
SKILLS
What Skills Does an Account Manager Need?
There are certain skills that every account manager should have. These are the qualities that will help you to be successful in your role and effectively work with your customers. There will be some jobs that require you to have a specific skill set, but these are a few of the most common skills that you should have as an account manager in any industry:
- Communication. The ability to effectively converse and problem-solve with your customers.
- CRM experience. Experience with HubSpot, Salesforce, etc.
- Negotiation skills. Being able to effectively negotiate on behalf of your organization with your customers.
- Ability to handle multiple accounts. You should be comfortable managing multiple customer accounts as well as the individual expectations of each.
- Strong presentation skills. You should be able to comfortably present one-on-one or in a group setting to others.
- Strong sales skills. Finally, you should have a knack for closing deals and providing value to others in exchange for contract signatures.
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