6 minsEver wondered who wears both hats — keeping clients happy and driving business growth? That’s a Relationship Manager’s job.
In the BFSI industry, Relationship Managers (RMs) are at the core of client interactions, customer bonds, communication, problem-solving as well as strategy. They have to identify and balance strategy, problem-solving and communication skills, making them one of the most important positions in financial institutions.
Whether dealing with individual clients or corporate accounts, RMs have to identify client requirements, recommend financial products and build trust. What makes their role truly dynamic, however, is its sales-driven nature. This is a challenging yet rewarding job. For learners wanting to pursue BFSI, working as an RM provides a well-defined career path with great growth opportunities.
According to Glassdoor, the average salary of entry-level RMs in India is ₹4-5 LPA, which has the potential to double or even triple as they progress to senior positions. It’s a career where professional prosperity is directly tied to the skills you possess.
What is a Relationship Manager?
The Relationship Manager job description is nothing that is difficult to grasp. A Relationship Manager is the key point of contact between organisations and clients, responsible for establishing effective relationships, resolving escalations and maintaining client satisfaction.
RMs are responsible for not only managing relationships but also identifying opportunities to sell financial products and services that meet client needs, from loans to credit cards. They integrate communication, product expertise and strategic thinking skills to provide customised solutions, thereby driving organisational growth and client loyalty in the competitive BFSI industry.
Qualifications Required to be a Relationship Manager
One can apply for a Relationship Manager role with a simple Bachelor’s degree. For senior or specialised positions, individuals gain a competitive advantage by acquiring the right higher education (for instance, an MBA).
Additionally, professional certifications such as the Series 7, Series 63/66, PMP or product-specific training can enhance employability. Coursework in sales, negotiation, client psychology or product training further refines skills.
Proven experience in client success can, at times, matter more than formal qualifications, particularly for experienced professionals. Employers also appreciate good interpersonal and customer interaction skills as well as sales capabilities. Hence, the job is open to both graduates and professionals.
Steps to Become a Relationship Manager
If you’re someone who wants to get on to the Relationship Manager career path, we’ve got you covered. The following are the exact things you need to know and do to become a successful RM.
1. Learn About Types of Relationship Managers
- Client Relationship Manager – Oversees executive or individual clients, maintains trust and retention and provides personalised solutions.
- Business Relationship Manager – Serves businesses, oversees communication with other businesses, negotiates contracts, tracks budgets and establishes company reputation.
2. Choose the Right Education
A degree in Finance, Business Administration, Economics or Marketing is a must. For differentiating oneself for senior/specialist job roles, higher education is a good path to take. You can go for a Post Graduate Diploma (PGD) in banking, which will provide you with enhanced expertise and credibility.
3. Gain Practical Experience
Start with internships or junior positions in customer care, account management or sales. These jobs help impart exposure in areas such as client interactions, build your resolution skills and prepare you to oversee business processes — essential skills for a successful RM.
4. Develop Core Skills
- Soft Skills – Excellent communication, emotional intelligence, flexibility, active listening, resilience, negotiation and sales.
- Technical Skills – Familiarity with CRM tools (like Salesforce, Zoho CRM, HubSpot CRM and Microsoft Dynamics 365), data analysis, banking products knowledge, financial modelling and knowledge of market competition.
5. Customise Applications
When you are applying for RM positions, tailor your resume as well as CV to show the relevant skills, experience and industry expertise.
6. Showcase Achievements
In your resume or portfolio, showcase client success stories, increased retention rates or creative problem-solving initiatives. These will demonstrate your value to future employers.
7. Prepare for Interviews
Rehearse situational and value-based questions. Make use of the the STAR method — Situation, Task, Action, Result — to effectively present your client management abilities.
8. Network Strategically
Regularly attend industry conferences and webinars to upskill and build connections with other RMs for mentorship, ideas and latest updates in the industry. Networking usually leads to job opportunities and career advancement.
The Growth Curve of a Relationship Manager
RMs generally begin from an entry-level client-facing job and move on to Associate or Junior RM jobs. With some experience, they move up to Senior RM or Branch Manager jobs.
Top performers tend to transition to leadership roles, branch management or jobs demanding strategic management; this entails managing more people and impacting business growth overall.
UNext Manipal Academy of BFSI – Your Launchpad for a Relationship Manager Role
The UNext Manipal Academy of BFSI (MABFSI) has been redefining BFSI careers for more than 17 years. Along with 50+ top organisations, it has educated over 2,00,000 professionals. Its programs are co-created with industry experts and use real-world simulations to ensure that learners are job-ready from Day 1.
With 220+ domain-rich faculty members, MABFSI empowers learners with role-specific know-how in the BFSI sector. Learners gain hands-on experience in client management, financial products, CRM tools, data analysis and strategic decision-making to drive business growth in organisations. These industry-relevant and job-assured programs make MABFSI the ideal entry point for RM aspirants.
MABFSI Professional Courses for RM Aspirants to Check Out –
- HDFC Bank Future Bankers 2.0 – Gross CTC: ₹5.59 LPA
- IDFC FIRST Emerging Bankers Program – Gross CTC: ₹6 LPA
- Kotak Ignite Programme – LAP – Gross CTC: ₹4.8 LPA
The Bottom Line
A Relationship Manager’s career combines blending communication, planning and growth opportunities. For BFSI career aspirants, it provides a solid career roadmap and professional development.
However, for success in the field, one would need proper training and industry exposure. Here’s where customised BFSI-centric professional programs from training institutes step in; they equip the workforce with job-ready skills, helping them unlock high-value job opportunities in the BFSI sector.
If you’re also wondering how to become a Relationship Manager, rest assured. With UNext Manipal Academy of BFSI’s job-assured programs, you get the perfect launchpad to shape your career as a future RM.
Time to move ahead and make an investment in your future today itself!
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