Account Executive Salary: How Much Does an Account Executive Earn?

0
70
Account executive jobs, description, and salary

Whenever you want to patronize a business, you will first have contact with someone who works with the brand. Having contact with the business before patronage lets you know everything concerning the product or service you want. The person that you will have this contact with is the account executive/customer’s broker/relationship manager.

Generally, relationship managers sell products and services to other businesses and clients. How do they do this? Relationship managers research to identify the needs of potential clients. Then, they make targeted pitches for products and services that will meet their needs and work to close the sale.

After completing the sale, they collaborate with customer service teams or directly with clients to find out if they were satisfied by the service. Whenever clients encounter problems, the relationship manager or customer broker recommends solutions to the problems.

Working as an account executive is very rewarding. So, if you desire to become an account executive, this article will let you know how you can become one. In addition, you will also know the job description of an account executive, the salary you stand to make, and the top account executive jobs.

Who is an account executive?

An account executive or customer’s broker is the primary contact between a business and a client. Customer brokers maintain the day-to-day business relationship with the client so as to achieve maximum customer satisfaction. They also look out for prospective clients and bring new businesses to their organization.

Most customer brokers work in advertising agencies, public relations firms, financial services companies, and technology companies.

What is an account executive’s job description?

Account executives work mainly to build and maintain relationships with clients on behalf of a business or brand. In some cases, clients refer to them as relationship managers. They work in a wide range of fields and help their companies to grow by finding leads, closing sales, supporting existing clients, formulating sales strategies, and communicating product value to clients.

The account executive job description varies depending on the industry.

Customer brokers who work in a marketing or advertising company create and execute plans for promoting clients. They do this by developing the client’s vision for their company’s brand, communicating the ideas to the agency, and deciding how to execute the ideas.

In cases where the client has an account with the agency, account executives manage the account in order to meet the needs of the client. Here, the relationship manager schedules press release, contacts media outlets and bloggers, or sets up meetings for the client.

Account executive jobs in advertising and marketing industries require the relationship manager to attract more clients to a company in order to increase its revenue and negotiate contracts.

RELATED POST: Account Coordinator: Step By Step Guide On How To Become One

How much can I earn as an account executive?

The amount of money that you will make depends on the industry, location, and level of experience in the field.

According to PayScale, the average salary of an account executive with one experience (includes tips, bonus, and overtime pay) is $44,653 per year. Account executives that have between 1-4 years of experience make an average salary of $51,525 per year. Mid-career account executives with 5-9 years of experience make an average salary of $62,385 per year.

PayScale also reports that the average salary of customer’s brokers with 10-19 years of work experience is $70,926 per year. Account executives with over 20 years of experience make an average salary of $78,458 annually.

What is a senior account executive’s salary?

The salary of senior account executives depends on factors including education, certifications, additional skills, and the number of years in the field.

PayScale reports that senior account executives with 1-4 years of work experience make an average salary of $62,326 annually. Senior customer brokers with 5-9 years of experience make an average salary of $67,995 per year. In addition, a senior customer broker with 10-19 years of experience makes an average salary of $85,971. The average salary of senior account executives with experience of 20 years and above is $92,506 per year.

How To Become An Account Executive

If you wish to become a relationship manager or customer’s broker, consider acquiring a bachelor’s degree in business, finance, or communications. You can earn a bachelor’s degree online if you cannot attend lectures on campus due to work and private commitments.

Follow the steps below in order to become an account executive and land jobs that pay a high salary:

1. Earn a bachelor’s degree

The best way to kick start a career as a customer broker/relationship manager is by acquiring a bachelor’s degree in business administration, marketing, accounting, or communications.

By earning a bachelor’s degree or higher in these fields, you will acquire relevant skills and comprehensive knowledge in sales. This will help to build your business acumen thereby increasing your efficiency.

2. Gain work experience

Most account executives enter the job by applying as volunteers or apprentices in order to gain valuable experience in sales. There are also marketing internships to enable you to gain work experience. So, you may decide to get into the field by either apprenticeship, volunteering, or internships.

Consider applying as a sales representative to work under an account executive, and learn about the persuasion techniques in marketing.

Most account executive jobs require applicants to have a minimum of three (3) years of experience in sales. So, try and work for that long in an entry-level account executive position before seeking a promotion to earn a higher salary.

3. Acquire certification

While the minimum requirement for an account executive role is a bachelor’s degree, it will not take you to higher roles without certification. You may also have work experience but without certification, you may not land well-paying jobs.

If you want to have a profitable career as a relationship manager, consider acquiring certification such as the National Association of Sales Professionals, the American Marketing Association (AMA), or the Institute of Management Accountants.

5 Top Account Executive Jobs

To kick start your career in the sales and marketing field as a relationship manager, we have made available for you the top jobs for account executives below:

1. Enterprise Account Executive

TitanHouse Inc is a provider of cloud-native security analytics platform that enables endpoint and cloud security from a single platform.

The company is seeking an enterprise sales executive that will work remotely to accommodate the rapidly-growing customer base and increasing revenue of the company.

The candidate must be goal-oriented, self-motivated, and possess comprehensive knowledge of the cybersecurity industry, products, and competitor offerings. TitanHouse requires the applicant to manage the end-to-end sales process through qualification, needs analysis, demonstration, business- and technical validation, legal, and procurement.

Additionally, the candidate will have to collaborate with customer executives and their teams to convey the value of the software with their cloud adoption strategies. The candidate should also be able to identify customer needs and effectively articulate compelling value propositions around products and services.

Apply

2. Diamond Sales Executive

Stuller Inc is currently seeking a proactive and motivated sales executive that will position the company’s Diamond and Gemstone solutions, value proposition, and benefit for business success through consultations.

The candidate for this position will assist customers with Stuller’s online offerings and show the value proposition of the company’s stone inventory. In addition, the candidate will need to possess the business insight to dialogue with clients on industry and local trends, selection, offerings, and other opportunities at Stuller.

Stuller requires the candidate to be able to improve customer engagement in order to win customers and recommend solutions to problems.

Apply

3. Amazon Account Manager

TPL Consults seeks an enthusiastic Amazon Account Manager that will assist in growing the company’s Amazon seller account. Basically, the candidate will act as the point of contact internally for Amazon for all policy and compliance elements.

The candidate will manage and execute best practices for optimizing product pages through variations, packs, kits, image symmetry and consistency, titles, copy optimization, thumbnails, video, SEO and A++, Amazon lives, and amazon posts.

TPL Consults requires the candidate to collaborate with Customer Service to understand Questions/Reviews feedback and how the company can incorporate that into content, copy, and product. The candidate will have to manage listings, create new listings, analyze sales data, and identify opportunities for product line expansion in new and existing accounts.

Apply

4. Strategic Account Executive

Salesforce is the global leading company in Customer Relationship Management (CRM). Organizations all over the world use Salesforce to transform their business in sales, service, marketing, commerce by connecting with clients in a new way.

Salesforce is currently seeking a strategic account executive that will create demand by identifying business problems and recommending solutions to them. The result-oriented candidate will generate a pipeline that leads to closed revenue and quota attainment.

Additionally, the candidate will need to build trust for Salesforce while influencing the buying decisions of clients. The candidate will also collaborate with internal resources so as to drive additional value and expertise.

Apply

5. Public Sector Account Executive (Aerospace & Defense)

DocuSign is seeking a public sector account executive that will assist the company to sell directly to large Aerospace and Defense and Federal System Integrator customers.

The candidate will be required to create and negotiate enterprise-level proposals and contracts. In addition, DocuSign requires the candidate to develop and deliver customized sales presentations and product demonstrations through phone and online demos.

The self-motivated candidate will need to work closely with the various pre/post sales resources such as Sales Development Representatives, Market Development Representatives, Solutions Engineers, Account Managers, Partner Account Managers, as well as Legal, Security, Professional Services, and Customer Support.

Apply

Conclusion

There is a need to build and maintain a solid business relationship between a brand and its clients. This is very necessary, especially whenever a client patronizes the business. The account executive or relationship manager is tasked with doing this.

Account executives hold a sales position to sell products and services to clients. After the sales, they may work with the customer service team or directly with clients to know if the client is satisfied. If problems arise, the relationship manager recommends solutions to them.

Relationship managers play an integral role in the growth and success of any business, company, or organization.

Frequently Asked Questions

Is an account executive a stressful job?

An account executive needs to pay attention to details, be self-motivated, and be creative while working under set deadlines. The sales industry is very competitive and it can cause emotional and mental stress for a relationship manager.

Is an account executive job a good career?

Of course! Account executives play a crucial role in the growth and success of multiple companies including advertising agencies, public relations firms, financial services companies, and technology companies. They earn high salaries and go on to have profitable careers.

How long will it take me to become an account executive?

It will take you four (4) years to become an account executive or relationship manager. The reason is that studying to acquire a bachelor’s degree in Business Administration, Marketing, Communications, or Accounting in order to become a relationship manager takes four years.

What skills does an account executive need?

The necessary skills for account executives include strong communication skills, negotiation skills, project management skills, sales skills, time management skills, and analytical skills.

References

LEAVE A REPLY

Please enter your comment!
Please enter your name here