How Much is a Sales Account Manager's Salary
Jayce Grayye • Nov 01, 2022
How Much is a Sales Account Manager's Salary
Account management is an excellent option if you're considering a career in sales. Not only will you be making a good living, but you'll also be helping your company succeed. A Sales Account Manager is responsible for managing and growing relationships with key clients and expanding the company's customer base. You must have strong sales skills and trust with clients in this role.
Undoubtedly, it's a great job, but what's the salary range? You'll find out here. We gathered data from all over to give you an accurate picture of how much money you can expect to make in this career. Read on for everything you might need about sales account manager salaries, including tips for earning more.
What Does a Sales Account Manager Do?
The duties and responsibilities of a Sales Account Manager can vary depending on the company. However, there are some typical duties and responsibilities associated with this role. These include:
- Managing relationships with key clients
- Expanding the company's customer base
- Identifying new sales opportunities
- Generating leads and prospecting for new customers
- Developing and implementing sales strategies
- Negotiating contracts
- Meeting sales targets
- Providing customer service
- Preparing reports
What is the Salary of a Sales Account Manager?
The average salary for a Sales Account Manager is $63121 per year. However, salaries can range from $40,353 to $98,735 per year, reports
Glassdoor. The pay will also depend on their experience, skills, location, and the company.
For instance, the average salary for a Sales Account Manager at Red Bull is $91,787 per year, and at Topgolf, the average salary for this role is $56,000 per year.
To negotiate a higher salary, it's essential to have a strong understanding of your worth in the market. Remember, the goal is to provide value to the company. If you can show that you are a top performer and help the company reach its goals, you will be in a solid position to negotiate a higher salary.
Skills required to become a sales account manager
If you're interested in becoming a Sales Account Manager and be more attractive to
head hunters near you, there are specific skills you will need to succeed in this role. These include:
- Good written and spoken communication skills
- Strong negotiation and presentation skills
- Confidence and persuasive manner
- Good organizational and time management skills
- Good 'interpersonal skills for working with a range of clients and colleagues
- The ability to lead a team and keep them motivated
- A willingness to work under pressure, long hours
- Good business sense and willing to work on a budget
- A professional attitude
If you are someone looking for a sales account manager role or if you are a company looking to hire top tier talent, learn more
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Factors that can affect a sales account manager's salary
Many factors affect a sales account manager's salary. Some of these are pretty obvious, while others are not as apparent. Account managers must know all factors influencing their pay to get the most compensation possible.
The size of the company: Some companies can pay more than others. If you work for a large company or one that is doing well financially, you may be able to negotiate a higher salary.
The industry: Salaries for Sales Account Managers can vary depending on the industry. For example, those working in the tech industry may earn more than those working in retail.
Location: Salaries can vary depending on where you live. For example, Sales Account Managers in NYC earn an average of $69,605 per year, while those in LA earn an average of $71,267 per year.
Experience: Your salary won't be as high if you're looking for an entry-level Sales Account Manager position. Experienced professionals might earn more than those with less experience.
Skills and abilities: If you're an excellent salesperson who can build trust, your salary negotiations may be more successful.
Job tasks: Your salary may also depend on the specific job tasks. For example, if you are responsible for generating leads, you may be able to earn a higher salary than someone responsible for customer service.
Another critical factor that can affect the salary of a sales account manager is how well they can face and overcome challenges.
Challenges of a Sales Accounts Manager
The Sales Account Manager role can be both challenging and rewarding. Some of the challenges associated with this role include:
Retaining key relationships: One of the challenges of this role is maintaining key relationships with clients. This can be difficult, as clients may be tempted to switch to another company offering a better price or product. Sales Account Managers must build trust with their clients and offer them value beyond the product or service they sell.
Generating new leads: Another challenge associated with this role is generating new leads. As the Sales Account Manager, your responsibility will be identifying new sales opportunities. This can be difficult, as you must research potential customers and find ways to convince them to do business with your company.
Managing a team: If you're managing a team of salespeople, keeping them motivated can be challenging. Commissions often drive salespeople, so it's essential to find ways to keep them motivated and on track. Additionally, you will need to manage your time and resources efficiently to meet your sales goals.
Maintaining and enhancing customer relationships: As the Sales Account Manager, your responsibility will be supporting and enhancing relationships with existing customers. This can be challenging, as you need to provide them exceptional customer service while also trying to upsell new products or services. Additionally, you will need to find ways to keep your customers happy and engaged.
Tips for Negotiating a Higher Salary
It can be tough to negotiate a higher salary, but it's not impossible. Here are a few tips to help you get your pay bump.
Get a degree: While you do not need a degree to become a Sales Account Manager, it can help you get ahead in the field. Those with a bachelor's degree in business or a related field may have an advantage when applying for jobs.
Get experience: As with any job, your experience will affect your salary. If you can get experience in sales, this will be helpful when applying for jobs as a Sales Account Manager.
Do your research: Before negotiating your salary, do your research. Find out the average salaries for Sales Account Managers in your area so you can know what you should earn.
Highlight your skills and experience: Remember to highlight your skills and experience when negotiating your salary. If you have strong sales skills and knowledge, mention this.
Use online calculators: Online salary calculators can be a helpful tool when you are negotiating your salary. They can estimate what you should be earning based on your experience, skills, and location.
Develop strong sales skills: If you have strong sales skills, you will be more likely to succeed in this field. Be sure to practice your sales skills and learn how to build trust with clients.
Stay up to date on industry trends: It is essential to stay current with industry trends so you can be the best salesperson possible. Read industry publications and attend industry events to stay informed.
Build strong relationships: As a sales account manager, you must build trust with clients. Strengthening your relationship skills will help you in this area.
Be organized: Keeping track of your client's needs is crucial to success as a sales account manager. Being organized will help you stay on top of everything.
Ask for more than you want: When negotiating your salary, always ask for more than what you want. This will allow you to negotiate and hopefully get the compensation you deserve.
Be prepared to walk away: If you are unhappy with the offer, be ready to walk away. Sometimes, the best way to get what you want is to show that you are willing to walk away from the deal. This may help you get the salary you deserve.
Becoming a successful sales account manager takes time, effort, and dedication. However, if you are willing to do the work, you can succeed in this role. The tips above can help increase your chances of success.
The Future of Sales Accounts Manager
The demand for Sales Account Managers is expected to grow in the coming years, reports the Bureau of Labor Statistics. There will be more job opportunities for those with experience in sales. If you want to enter this field, now is a good time.
The Bottom line
Sales Account Managers play a vital role in any company. They are responsible for developing relationships with clients and helping to grow the business. If you are considering a career in sales, be sure to research the average salaries in your area. With experience and the right skills, you can earn a good salary as a Sales Account Manager.
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