How to Become an Account Manager

If you enjoy working in a fast-paced, client-facing role, you may consider a career as an account manager. But what exactly does this role involve and what steps do you need to take to become one in Australia?

In this guide, you'll discover what an account manager does, how to pursue this career path, how much you can typically earn and what key skills are needed to succeed in this role. These insights can help you determine whether account management is the right path for your future.

4 steps to becoming an account manager in Australia

Becoming an account manager typically involves obtaining relevant education and gaining practical experience in managing client relationships. Many account managers usually begin their careers in sales, marketing or customer service before moving into account management. You can also improve your career prospects by furthering your qualifications with postgraduate studies. Below is a step-by-step guide to understand what your career journey may look like:

1. Obtain an undergraduate qualification

An account manager needs solid knowledge in various business areas, such as marketing, customer relations and communication. As dedicated account management courses aren’t available, you can choose to study a broader field that can help you develop the right skills, such as a Bachelor of Business, Bachelor of Business Administration, Bachelor of Marketing or Bachelor of Commerce. Completing a course in one of these areas typically requires three years of full-time study.

Throughout your learning experience, you’ll acquire valuable business insights and develop your skills in strategic thinking, problem-solving and decision-making, which are crucial to managing client relationships and addressing their challenges. Many account manager jobs also require you to have at least an undergraduate degree, so obtaining one is crucial to pursuing this career path.

2. Gain practical experience

After obtaining your degree, your career will likely begin in an entry-level position, such as a customer service representative, sales associate, retail worker or marketing coordinator. These roles allow you to build crucial experience in client engagement and business operations. As you gain experience, you'll learn how to handle various client concerns effectively while developing your communication and organisational skills. This will give you the confidence needed to step into an account manager role later on.

3. Consider pursuing postgraduate studies

While a postgraduate degree isn’t necessarily a requirement to work as an account manager, it can significantly boost your career outlook, especially if you’re aiming for a more senior role or aspiring to work at a large or reputable organisation. A Master of Business Administration (MBA), for example, offers in-depth knowledge in core business areas like finance, marketing and strategy. This qualification also develops your leadership and management skills, preparing you to take on more responsibility, lead teams and manage client accounts at a higher level effectively.

Many MBA courses offer exciting opportunities for you to gain practical experience and expand your professional network, both domestically and globally. For instance, the Master of Business Administration (International) program at Deakin University provides global work-integrated learning project opportunities, either in-person or virtually, where you can tackle business challenges in other countries.

Meanwhile, the Master of Business Administration course at Queensland University of Technology offers online international exchange programs, allowing you to study with prestigious business schools and broaden your global business perspective. Some institutions that have been involved include Copenhagen Business School in Denmark and WHU Otto Beisheim School of Management in Germany.

4. Apply for account manager roles

After accumulating experience in sales, marketing or customer relations, you can explore account manager jobs advertised on online employment marketplaces, such as SEEK and Indeed, or company websites. Account managers are valued across diverse industries, so you have the flexibility to choose which industry you want to work in based on your experience, skills and interests.

When applying, make sure your resume highlights your achievements in driving business growth and managing client relationships. Employers often look for proven track records of how you’ve added value to your past roles and your ability to manage client accounts successfully.

What is an account manager?

An account manager focuses on nurturing positive client relationships by responding to their needs with tailored solutions designed to provide value and ensure satisfaction. You play an essential role in promoting business growth by maintaining these relationships and recommending your company’s products or services that meet your clients’ needs.

In this role, you often collaborate with cross-functional departments to better understand client concerns and find new sales opportunities within existing accounts. This can include working alongside sales associates, marketing coordinators and managers from the product, sales and marketing teams.

Account managers often work in an office environment. Since you’ll spend a lot of your time engaging with clients via phone calls and video calls, there may be opportunities for remote work. You may also have meetings with clients in person to connect, pitch, discuss performance and negotiate contracts.

What does an account manager do?

An account manager’s primary role is to enhance business revenue by fostering positive client relationships and encouraging them to purchase or utilise your company’s products or services. While your scope of responsibilities may vary depending on your role, the industry and company you work in, your duties commonly include the following:

• Providing exceptional service to build long-term relationships with clients
• Managing multiple client accounts and recommending relevant company offerings
• Addressing and resolving customer complaints
• Keeping clients informed about changes related to the organisation, products, services and the market
• Examining customer data to tailor marketing strategies that align with their needs
• Collaborating with the appropriate departments for specific client concerns to develop tailored solutions
• Negotiating contract terms with clients
• Developing strategies to retain existing accounts and identifying sales opportunities within them
• Preparing reports for management to track account progress and performance

What is a typical account manager salary in Australia?

According to SEEK, the average salary for an account manager in Australia ranges from $85,000 to $105,000 a year. Discover the typical annual salary for this position in each state and territory below:

• Australian Capital Territory: $104,000
• Queensland: $95,000
• New South Wales: $95,000
• Victoria: $93,000
• Western Australia: $90,000
• South Australia: $90,000
• Northern Territory: $90,000
• Tasmania: $85,000

Your income can also be influenced by the sector you work in. Below are the industries with the highest average salaries for account managers:

• Engineering: $108,000
• Construction: $97,000
• Banking and financial services: $96,000
• Accounting: $83,000
• Advertising, arts and media: $80,000
• Call centre and customer service: $70,000
• Community services and development: $69,000
• Administration and office support: $67,000

What skills does an account manager need?

Account managers should have a combination of technical and soft skills to manage client relationships effectively. Essential hard skills include software proficiency, data analysis and project management. You should also develop soft skills like problem-solving, communication and attention to detail to thrive in this role. Discover what these account management skills entail below:

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Hard skills

Software proficiency: Account managers often rely on various software tools to streamline daily tasks. For example, customer relationship management (CRM) software helps you manage client data, while project management tools allow you to keep track of account progress. Mastering these tools enables you to work more efficiently and deliver great service to clients.

Data analysis: This skill is essential for account managers as it helps you analyse client behaviour, track account performance and find growth opportunities. Data analysis also allows you to assess and forecast market trends to create tailored solutions that meet your clients’ needs. This helps you make better informed decisions, boost client satisfaction and improve business growth.

Project management: In this role, you’ll likely be managing multiple accounts at the same time, each with its own requirements and deadlines. You need strong project management skills to stay organised, prioritise important tasks, track progress and deliver solutions quickly. This skill allows you to handle a high volume of account management work without compromising quality.

Soft skills

Problem-solving: Excellent problem-solving skills are crucial for navigating your client’s challenges. This typically involves understanding their concerns, collaborating with internal departments to develop effective solutions and delivering them in a timely manner. Not only will you be able to resolve issues swiftly, but you’ll also strengthen your client’s trust, fostering long-term loyalty.

Communication: As client engagement is a major part of your role, being a strong communicator is key to building strong relationships. This involves actively listening to your clients to comprehend their needs and negotiating with them effectively to secure more deals while maintaining their brand loyalty. You’ll also be working with other colleagues often, so having great communication skills ensures that everyone is aligned and working towards shared goals.

Attention to detail: Account managers need to be detail-oriented to properly grasp client concerns. By paying attention to their language and tone during meetings, you can adjust your responses to better meet their expectations. This helps you anticipate what they may require and provide appropriate product or service recommendations. Being meticulous also enables you to produce detailed reports that can help you make accurate forecasts and develop client-focused strategies.

Who should become an account manager?

An account manager is an ideal role for individuals who excel in customer service, problem-solving and sales. If you have a passion for helping others and enjoy working closely with clients, this career could be a great fit. As the primary point of contact for clients, being client-focused and proactive in offering support is crucial.

A strong sales-driven mindset is also important to thrive as an account manager. You need to identify growth opportunities, upsell and cross-sell products or services and negotiate favourable contract terms that benefit both the client and your company. If you thrive in a fast-paced, client-facing environment with the goal of boosting business performance, you’ll likely find the role of an account manager both rewarding and fulfilling.

What’s the career growth for an account manager?

Working as an account manager can lead to exciting career growth opportunities, including moving into a more senior role like key account manager, business development manager or account director. While these positions are related to managing client relationships, they differ based on their scope of responsibilities and primary objectives. Discover what they entail and how much they typically earn, according to SEEK:

• Key account manager

In this role, you manage and nurture relationships with a company's most important clients, often referred to as "key accounts". These clients typically contribute a significant portion of the business’s revenue. Your role is vital in meeting their needs and maintaining mutually beneficial relationships.

Key account managers typically earn $105,000 to $125,000 per year.

• Business development manager

A business development manager finds opportunities to drive long-term business growth by acquiring new clients, expanding into new markets and exploring innovative ways to engage existing ones. Your primary responsibility involves helping a business enhance its reputation and profitability over time.

In this position, the annual salary ranges from $100,000 to $120,000 on average.

• Account director

As an account director, you manage a team of account managers, overseeing their day-to-day activities and providing guidance when needed. You may also lead cross-functional teams, ensuring smooth collaboration and alignment across departments to achieve client goals.

You can expect to earn an average salary of $115,000 to $135,000 per year as an account director.

Pursue a rewarding career in account management

Account managers serve as the bridge between a business and its clients, providing long-term value to both sides. Ensuring customer satisfaction and increasing revenue opportunities requires strong business acumen and strategic insight, which you can develop further through postgraduate studies. Ready to start or advance your account management career? Explore various postgraduate business courses provided by leading Australian institutions today.