2023 Tech Sales Account Manager Salary Guide | Does Location Impact Salary?

Account Manager salary guide for the tech industry and the 4 biggest factors affecting salary.

(ALL FIGURES ARECURRENT AS OF JANUARY 27, 2023.)

Account Managers Are In Demand!

There’s a reason that tech companies are on the hunt for account management talent! There’s a growing need for empathy, compassion, and heart in the industry, and Account Managers are excellent at developing relationships with happy customers.

As we write this guide, there are more than 147,000 Account Manager positions listed on our website. With an industry that’s projected to grow anywhere from $700 billion to $10 trillion within the next decade, you might be thinking: it’s time to get on board.

But do those in-demand skills mean an in-demand paycheck? Short answer: yep! Long answer: Exact detail — like location, experience, commission, remote work, and skills — all play into what you take home at the end of the day. Let’s explore what the opportunities look like for Account Managers and get you ready to take that next step in your career with all the info you may need!

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A Day in The Life: Breaking Down The Account Manager Role

As an Account Manager (AM), your role is all about post-sale relationships: building them, maintaining them, and enriching them over time.

Once an initial sale is complete, Account Managers leap into action, making sure the customers have the most relevant and up-to-date products or services your company offers. Connecting product usage to value is critical for the Account Manager role as they seek new opportunities within accounts. Not to be confused with Account Executives (AEs) who find and close deals, or with Customer Success Managers (CSMs) who guide customers through the post-sales process and monitor account health. Account Managers are there for renewals, upsells, and cross-sells with current clients.

Common day-to-day responsibilities include:

• Regularly checking in with customers and CSMs about new and existing needs
• Pursuing new deals and building relationships within accounts
• Budgeting and forecasting sales for accounts in your portfolio
• Renewing, upgrading, adding, or adjusting customer services
• Updating customer records and monitoring status reports

AMs typically have 2 to 4 years of sales experience on their resumes before they land the job. As a relationship-focused and sales-adjacent role, you can expect a background in sales, business, marketing, communications, administration, or other similar fields to be most helpful.

Do you have these 5 account management skills? Here’s what makes strong Account Managers shine:

• Relationship-building
• Analytical mindset
• Communication
• Leadership skills
• Organization and time management

Setting The Bar: Average Salaries For Account Managers

The average salary for an Account Manager ranges between US$52,658 to US$61,503 in the U.S. and between C$56,097 and C$62,514 in Canada.

Of course, that’s just the middle of the road when it comes to base salary. The extremes swing wide in both countries. In the U.S., the highest earners bring home around US$96,000 per year, while the lowest earners make just over a third of that amount, at US$36,000. Meanwhile, in Canada, the range is slightly less extreme, with top salaries around C$89,000 and low salaries at C$39,000.

But base salary doesn’t tell the whole story about compensation. Typically, Account Managers earn other incentives like commissions and bonuses. As an overview, Account Managers in both countries can expect to earn an extra $14,000 to $20,000.

And that’s just the beginning of the story.! Let’s explore what specific factors have the greatest impact on a potential Account Manager salary.

What Influences An Account Manager’s Paycheck?

Personal factors like your employer, your contract, and your performance all impact how much you earn at the end of the day. But what broader trends influence the salary you earn as an Account Manager?

We’ve identified 4 factors worth paying attention to…

1 - Your geography

The cost of living varies from city to city, as does the cost of doing business. So it’s no surprise that there are geographical differences in average salaries for Account Managers. It’s interesting to note that, unlike other sales roles where we see higher compensation in the U.S., except for a few hotspots, AM salaries seem fairly consistent across most of North America.

Putting it on a map

The job title

Here’s a fun fact: simply by adding the word Sales” to the job title, we see a small but nonetheless notable bump in pay across both Canada and the U.S.

Even more surprising, that increase can vary dramatically depending on your specific location. Glassdoor data reveals a jump of over $20,000 in base annual salary for Sales Account Managers in Calgary, AB, while the same comparison in Chicago, IL sees a drop of $79. So don’t forget to add the word sales” to your search while you’re on the hunt for an Account Manager role if you want to maximize your earnings.

Your skills

You can stack yet another salary boost with skills that are specialized for interpersonal relationships, business management, and, obviously, technology. According to Payscale’s data, popular skills like these make a significant difference in the average pay reported by US-based Sales Account Managers

By focusing your time and energy on developing in-demand skills like these today, you can make the most out of your Account Manager position tomorrow. Check out our new Account Manager course to put your sales career on the right track.

Your experience

Experience matters in this position. The level of experience that you bring to the Account Manager role can unlock several noticeable benefits to your salary.

Once again in our salary guides, we find job titles can make a sizable difference when it comes to finding better earning opportunities in more senior positions. A search for salaries under Senior Sales Account Manager” on Glassdoor returned the following results:

The Extras: Commissions and Bonuses

Commissions aren’t just for Business Development Representatives and Account Executives who spend their days landing and closing new clients. It’s a powerful incentive for Account Managers, too – it’s simply measured and implemented in different ways.

Your quotas and performance goals may be built around milestones like…

• Retention • The number of happy customers who stick around year after year.
• Upsells • Customers in your portfolio who upgrade to a higher-tier service or product.
• Cross-sells • Customers who purchase an additional product or service from you.

We searched the 3 job titles mentioned in this report on Glassdoor, both in Canada and the U.S. Here’s what we found out about the annual average additional compensation!

Account Managers can expect to earn the following commissions and bonuses:

According to Compgauge — which measures salaries and compensation specifically in tech sales careers — Account Managers may earn as much as $63,505 in commission on top of a base salary of $80,180. That’s quite a jump!

And, let’s not forget about the benefits. 81% of U.S-based Account Managers and Sales Account Managers reporting on Payscale say they receive a benefits package from their employer.

Does Remote Work Pay Better?

Remote work isn’t just a preference!

For many employees, remote work is increasingly becoming an expectation. A recent Gartner report shows that 75% of employees now expect flexible workplaces. And for more than half, that flexibility could make or break their decision to stick with a company. Almost 40% of the workforce would consider leaving a company that decided to return to full-time in-office work.

But is remote work a perk you pay for with a lower salary?

You may actually earn more from home…

• Average annual salaries for Remote Account Manager” are higher than Account Manager” in both the United States and Canada by almost $1,500, according to Glassdoor data.
• Overall, employees who work from home full-time report higher earnings on average – topped only by employees in hybrid workplace structures, according to Payscale.
• Among sales teams in particular, remote workers earned 6.5 percent more than their in-office colleagues, says the same report.
• Employees in the tech sector report 5.5 percent higher salaries among remote workers compared to other industries, Payscale found. Tech companies were also among the most likely to adopt fully remote or hybrid work environments.

Remote positions aren't always advertised as such. But did you know that you can filter your search for remote work on the Uvaro Job Board? Right now, there are more than 12,000 remote Account Management positions listed! Who wouldn't want to land an Account Manager Salary working from home?

Ready To Become A Tech Sales Account Manager?

Does an Account Manager's salary and job responsibilities appeal to you? You are in the right place!

As your Career Success company, Uvaro is here to help you build a fulfilling career in tech… from hired to retired. Our Course curriculum and career programming are proven to help our members learn what they need to be successful in their careers, from BDR to Account Manager, we have you covered. Check out our Career Success Catalog to start learning more!

During our 4-week Account Management Course, you’ll work with industry pros to learn the latest in account management skills and techniques. With cutting-edge tools, you’ll practice the sales, technical, and financial skills required to grow revenue, retain accounts, and stay accountable to your customer and your organization.

Take charge of your career, and take the next step with Uvaro today!