How to Become a Relationship Manager

About Relationship Manager

A Relationship Manager is a mid-level position in the sales team. They are responsible for creating and maintaining relationships with the customers of an organization. Relationship Managers play a vital role in the growth and success of any organization as they not only bring more clients to the table but also ensure the satisfaction of existing clients. Relationships Managers communicate with the respective departments of the organization to mitigate customer issues.

Relationship Managers also have a key role in the development and execution of sales plans. They may also provide indirect feedback, based on customer experience, on the development of new products or improvement of existing services. The role of a Relationship Manager in an organization is very interesting as it involves fieldwork as well as desk duty. Some organizations might hire different individuals for these jobs but some job positions require professionals to assume both the responsibilities.

A Relationship Manager is required to have a pleasant personality and good interpersonal skills. They must also have extensive knowledge of the organization’s products, which will help them pitch to clients. Further, they must have good problem-solving skills and good communication skills as mitigating customer issues and providing information about company policies and products are part of the job of a Relationship Manager.

Eligibility to become Relationship Manager

Companies generally hire management degree holders for the role of Relationship Managers. Although there are no specific criteria for this field, the requirements of the job necessitate that candidates acquire formal training in a number of disciplines to be best suited for this role.

In order to become a Relationship Manager in India, you must complete at least a graduate course. However, many companies may prefer candidates who have completed a postgraduate programme in a relevant discipline. Given below are the details regarding education qualifications suited for becoming a Relationship Manager in India.

• Having Maths in 10 + 2 is desirable.

• Graduation, preferably in a management course such as Bachelor of Business Administration (BBA).

• A postgraduate degree course in management such as Master of Business Administration or MBA.

• Since Customer Relationship Management (CRM) is part of an MBA in General Management course, it would be sufficient for this role.

• Some colleges also offer an MBA in Customer Relationship Management course, which is specifically designed for this field.

Types of Job Roles Relationship Manager

Relationship Manager is generally an entry-level position for management graduates and postgraduates. Some organizations only hire fresher MBA graduates for the role. With experience, professionals are promoted to higher positions in an organization. There are two major job roles for Relationship Managers:

• Acquisition Manager: Responsible for bringing in new customers to an organization.

• Service Relationship Manager: Responsible for resolve any issues of existing customers as well as pitch new products.

One of the prominent sectors having a high demand for Relationship Managers includes the banking sector. Here are some of the job roles a professional in this field can attain in a banking institution. These are listed in increasing order of hierarchy.

• Relationship Manager / CRM

• Branch Manager

• District Manager

• Regional Manager

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Employment Sector/Industry for Relationship Manager

Relationship Managers are a requirement at many companies involved with client servicing. Some of the top recruiting areas of Relationship Managers include:

• Banks

• Insurance Companies

• Consultancies

• Wealth Management Firms

• Brand Retailing etc.

Top Recruiting Companies for Relationship Managers

Given below are the top recruiting companies for Relationship Managers in India.

• HDFC Bank

• SMC Global

• IndusInd Bank

• Bajaj Capital

• Religare Health Insurance etc.

Pay Scale/Salary of Relationship Manager

Given below is the average salary details for job profiles related to the career of Relationship Manager in India. The salary may vary depending on the type of industry and experience of a candidate.

Books & Study Material to Become Relationship Manager

Given below are some of the best books you can use to improve your Client Relationship Management skills.

Pros of becoming a Relationship Manager

• The job supports an improvement in leadership and communication skills.

• Performance-based promotions mean good scope for growth in position as well as money.

• Provides excellent networking opportunities.

Cons of becoming a Relationship Manager

• The working hours can be long and irregular.

• Dealing with customers can prove to be stressful.

• Professionals usually have to work with high targets and short deadlines.