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Account Management Jobs
Account Manager Description
Account Managers/Executives are vital to marketing and creative agencies, acting as the direct link between the agency and the client. Account managers (or account handlers) are given accounts to ensure the satisfaction of those clients and to manage all connected actions and events to guarantee things go smoothly.
Account managers have to brief various teams on tasks related to the account, as well as often having to cost and budget campaigns and monitor campaign progress - they're the marketing equivalent of a producer. Account managers also have to devise pitches to clients in order to win their business. It's a dynamic and exciting role, seeing projects through from conception to completion.
- Account Manager Salary
As a base, account managers tend to earn around £28,000, according to Glassdoor (2024), which is not inclusive of any commission or bonuses - and this is only an entry-level role. Key Account Managers earn, on average, around £40,000, and Senior Account Managers earn around £49,000. Account managers have significant potential to earn higher performance-related salaries. Working hard in this role and getting noticed literally pays off.
As with many marketing roles, there is a high possibility of medical, gym, and health benefits to the role - as well as a vibrant social and work life.
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Salary Survey for Account Management Jobs 2024
- Average Salary: The average base salary for Account Management positions in the UK sits around £33,625, with significant variations depending on industry, experience, company size, and location.
- Salary Range: Base salaries typically range from £26,795 for entry-level Account Managers to £50,000+ for seasoned professionals with proven track records of managing client relationships and achieving targets.
- Commissions and Bonuses: While less common than pure sales roles, some Account Management positions offer performance-based bonuses linked to client satisfaction, retention, and revenue generation, potentially boosting earnings by 10-15%.
- Location: London attracts the highest average salaries, followed by major cities like Edinburgh, Manchester, and Birmingham. Salaries tend to be lower in smaller towns and rural areas.
- Industry: Industries like Finance, Technology, and Professional Services typically offer higher salaries due to complex client needs, competitive landscapes, and larger account sizes.
- Experience: Extensive experience building and managing client relationships, coupled with strong communication, negotiation, and problem-solving skills, is crucial. Industry expertise can be highly valuable.
- Qualifications: Possessing relevant accreditations (e.g., Chartered Institute of Marketing) or an MBA can enhance earning potential, along with a proven track record in specific industry segments.
Salary Ranges for Account Management Roles in 2024
Detailed breakdown of salary data from various sources:
According to Glassdoor, the average base salary for Account Managers in the UK is £28,000, while National Account Managers earn an average of £35,000.
Hays lists a salary range of £25,000-£50,000 for Account Management positions, with variation depending on industry and location.
Totaljobs reports an average salary of £32,000 for Account Manager jobs, with a salary range of £28,000-£55,000.
Additional Factors:
- Company Size: Larger companies generally offer higher salaries and more extensive benefits packages compared to smaller enterprises.
- Benefits: Benefits packages vary greatly and may include health insurance, pension plans, company cars, travel opportunities, and professional development programs.
- Company Performance: Account Managers in high-performing companies often command higher salaries and bonuses.
- Client Portfolio and Size: Managing larger client portfolios, particularly high-value accounts, significantly impacts earning potential.
- Team Management: Leading Account Management teams and achieving team-based client satisfaction goals can further enhance earnings.
Industry-Specific Considerations:
- Finance: Complex financial products and demanding client expectations can lead to higher earning potential for Account Managers with relevant expertise.
- Technology: Deep understanding of the ever-evolving technology landscape and its impact on client needs is advantageous.
- Professional Services: Building strong relationships with key decision-makers is crucial, and strong interpersonal skills are highly valued.
The UK's Account Management market presents a range of opportunities with different base salaries and earning potentials. While experience and industry knowledge are crucial factors for determining income, the possibility of receiving bonuses, advancing in one's career, and building strong relationships with clients make this field both fulfilling and ever-evolving.
What Makes a Good Account Manager?
Organisation and working well under pressure are the hallmarks of a strong account manager. Managing marketing accounts can be stressful and competitive, as many want to rise through the ranks to reach those more senior roles - hours can be long to ensure projects are proceeding at a healthy pace. Account managers also need to be confident and have good communication skills, as well as being able to see the bigger picture - as each action determines how successful a campaign is for the client and in turn how successful the account is for the agency.
Account management roles tend to be social, and while offices are casual, smart wear is the norm - it's a rewarding role for those who can put in the work and talk comfortably with clients.
Looking to hire marketing executives?
Aaron Wallis are industry experts in marketing recruitment with offices all over the UK. We'll assign you a dedicated account manager and tailor our process to you - all backed up by a 12 month rebates scheme.
Feel free to submit a vacancy with us, or call us on 01908 061 400 for a free consultation.
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