Working as an accounting manager is all about building strong relationships – with both clients and your organization. In many ways, you serve as the face of the company to important clients, overseeing their accounts and making sure everyone is moving towards the same goals of growth and success. One of the best things about the job is that you get to call on many different skills – from customer service savvy to analytical and strategic thinking. And when you do things right, it can be incredibly fulfilling to see those accounts continue to strengthen and expand over time.
What Qualifications, Skills, and Education Are Required to Become One?
While specific qualifications vary by industry and company, an accounting manager role almost always calls for strong communication, project management, and problem-solving abilities.
An accounting manager typically needs a bachelor’s degree at minimum, though many have a master’s degree to stand out. While any major can qualify you, relevant fields include business administration, finance, marketing, communications, or management. Coursework and internships in account management or sales are extremely helpful.
On top of education, these essential skills are must-haves:
- Exceptional verbal, written, presentation, and listening skills
- Strong grasp of common software/programs in your industry
- Ability to analyze data to inform decision-making
- Highly organized with meticulous attention to detail
- Personable, patient, and ability to bond with clients
- Confident in making decisions independently
If you become a certified management accountant, it shows employers you have specialized expertise in financial accounting, strategic management, operations management, and more. It requires passing a comprehensive exam plus professional work experience.
Day-to-Day Responsibilities
A typical day for an accounting manager involves both internal and external meetings to represent your company and clients. You serve as the face of the business and the main point of contact. Each day brings new opportunities to nurture relationships and grow accounts.
Common tasks include:
- Overseeing assigned client accounts end-to-end
- Developing customized strategies to promote account growth
- Identifying client needs and pitching suitable services/products
- Consulting with managers and directors about account progress
- Preparing account reports, financial statements, and growth forecasts
- Researching up-to-date industry trends, technologies, etc.
- Responding promptly to all client queries and concerns
Career Growth and Salary Potential
With the indispensable experience account managers gain, promotions and pay increases come readily. Entry-level account managers usually transition into senior positions with enough proven success. Those who demonstrate sharp leadership abilities can rise to executive roles like Sales Director, Vice President of Sales, or Chief Revenue Officer.
According to Glassdoor, the average account manager salary in America is $1,18,705 per year as of April 2024.
Salaries go up substantially with titles like Sales Director ($153,000 avg) and VP of Sales ($233,000 avg). Major factors affecting salary include industry, location, company type/size, and economic conditions.
Big Industries Hiring Account Managers
Nearly every industry needs talented account managers to cultivate profitable relationships. Companies always want someone to oversee and maximize client accounts directly.
Landing an accounting manager role takes strong relationship-building skills and a consultative, client-focused mindset. But for those who thrive on bringing in revenue through strategic partnerships, it offers a stable yet fast-moving career with plenty of upwards mobility.
Are You Ready for an Account Management Career?
Becoming an indispensable account manager requires sales drive, project management abilities, industry expertise, and unwavering customer service skills. Make sure to highlight these abilities whenever applying and interviewing. Be prepared to speak to past successes managing accounts or developing client relationships.
FAQs
1. Do I need experience to become an account manager?
While any past professional experience interacting with clients or managing projects is helpful, many entry-level account manager jobs require a bachelor’s degree and strong soft skills like communication, problem-solving, and organizational abilities. However, expect to gain on-the-job experience starting.
2. How much travel do account managers do?
Travel requirements vary greatly by company and industry. Many account managers travel occasionally to visit local clients, attend conferences, or meet with team leaders back at corporate headquarters. Some may travel weekly or regularly within their region. Global or remote account managers often travel much more frequently.
3. What’s the difference between an account manager and vs account executive?
Accounting managers and account executives have very similar day-to-day responsibilities focused on sales and customer relationships. In many companies, the titles are interchangeable. At others, account executives have more actual selling activities, while account managers provide ongoing post-sale relationship support.
4. What industries have the highest-paying account manager jobs?
The software/technology industry tends to offer the most lucrative account manager salaries, averaging $1,18,705 annually. However, the pharmaceutical, medical device, financial services, and business consulting industries also boast high pay potential for successful account managers.
5. How can I advance my account manager career?
Consistently meet or beat growth & renewal rate targets for your book of business. Seek opportunities to mentor junior account managers. Develop expertise within your niche. Volunteer for independent special projects to gain visibility with leadership. Ultimately aim for senior account executive or sales management roles.
