what is an account executive?
You support existing clients and build lasting customer relationships as an account executive. While an account executive is a sales role, your duties go beyond the traditional responsibilities of selling products or services. You assist with acquiring new clients and maintaining relationships with existing customers. The responsibilities of an account executive usually depend on the employer. In some companies, your role involves building relationships with new customers. However, in other organisations, account executives only handle existing client accounts. Your job is to manage, develop and grow customers' accounts.
where do account executives work?
Account executives work in companies that rely on marketing and sales to generate revenue. Hence, most account executives work in retail stores and advertising agencies. Aside from managing consumer goods sales, you can also work in telecommunications, IT, real estate, financial services or the hospitality industry.
account executive jobsaverage account executive salary
The remuneration packages of account executives differ depending on the industry and organisation. Some employers pay hourly rates or monthly salaries without commissions, while other companies pay commissions for achieving specific sales quotas.
In Australia, the average salary of an account executive is $85,000 per year. Entry-level jobs attract a remuneration of $70,000 annually, while experienced workers earn $90,000 per year. The variations in earnings are due to experience, qualification and location.
what factors affect the salary of an account executive?
As an account executive, your remuneration package depends on your qualifications and experience. Your earning prospects are improved when you have a bachelor’s degree in a relevant field. Your expertise also influences your earnings. For instance, your skillset attracts a higher remuneration with over five years of sales experience. At entry-level positions, your salary is low due to the limited experience you have in the role.
Sometimes, the product or services offered by the organisation you work for affect your earnings. For instance, selling financial services or technology products is lucrative and attracts higher remuneration. Working in metro areas also boosts your remuneration due to the high demand for account executives.
Want to know what you will earn as an account executive? Check out what you are worth with our salary checker.
types of account executives
Account executives' roles vary depending on the industry they work in and the products they sell. Some include:
- advertising account executive: your job is coordinating advertising campaigns and encouraging customers to buy particular products. You manage clients by briefing them on campaign details and negotiating any modifications. You also assist clients with other marketing strategies.
- enterprise account executive: your job involves managing key accounts for your company. You meet with the client to discuss contractual terms and costs. You also identify upselling and cross-selling opportunities to increase sales.
working as an account executive
Working as an account executive prepares you for a lucrative career in sales and managerial roles. Let's explore the specific duties and career outlook of the role.
-
account executive job description
Some of the typical tasks of account executives include:
- educating and guiding prospective clients: you assist clients through the buying process to ensure you close deals. That means you answer questions and explain the products' functions to speed up decision-making. You also follow up with prospective customers to enable them to complete the buying process without hitches.
- growing client accounts: you aim to discover growth opportunities for client accounts. Instead of meeting customers' needs when they express interest, be proactive and identify upselling opportunities. You recognise gaps your company can fill and make suggestions to your clients.
- retaining client accounts: competitors are always looking for opportunities to poach clients, so it is important to be vigilant. Your job is to ensure the customer signs a contract before the competition strikes. If the competitor has an offeryour company does not provide, ensure you have other incentives to entice the client.
- maintaining client satisfaction: as an account executive, seeking regular feedback on your performance as a vendor is essential. If your company is getting bad reviews, find out why and provide solutions to improve customer satisfaction. You should also conduct surveys on various aspects of customer accounts to find ways to strengthen client relationships.
-
work environment
You work in diverse business sectors as an account executive, from corporate settings like finance and insurance to mining, manufacturing and construction companies. You may work independently or from an office with the marketing or sales teams. You spend most of the day making phone calls and answering emails. The role involves travelling to clients' offices to close deals or discuss contractual terms. Some account executives work from home or in a remote location.
-
who are your colleagues?
Depending on your employer and the industry you work in, your colleagues might include administrators, coordinators, account managers, sales representatives and marketing executives. You might also be working in close proximity to sales managers and customer service agents, as well as other specialists that could include, but not be limited to, managers, marketing managers, operations managers and production managers.
-
work schedule
As an account executive with a full-time schedule, your workday starts from 8 am to 5 pm on weekdays. Since you meet with clients during normal business hours, overtime work is rare. However, sometimes you work late to meet strict deadlines or complete a large project. Part-time opportunities are also available for account executives.
-
job outlook
Account executives assist companies in getting new clients, generating sales and keeping customers happy. Hence, there is a huge demand for account executives in various Australian industries. The employment opportunities in the role are projected to grow by 21.1% in the next five years. Account executives are often promoted to sales representatives, sales directors or marketing managers.
-
advantages of finding an account executive job through randstad
Finding your account executive job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid weekly or monthly, depending on the job
- temporary and permanent contracts
Want a permanent contract? A temporary job as an account executive is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too.
education and skills
Working as an account executive doesn't require formal education. You can land a job with a high school certificate. However, most employers require a background in sales or business administration. Some of the paths into the role include:
- education: pursue a bachelor's degree in accounting, sales, marketing or business administration to develop an underlying knowledge of fundamentals in sales. A bachelor's degree proves your competence and improves your employment prospects. If you don't qualify for a degree, you can take relevant short courses in accounting, business or marketing.
- work experience: you need practical experience in sales and management to become an account executive. Consider working in entry-level positions as a presales consultant or sales representative. Attending workshops and on-the-job training also helps you develop essential skills for the role.
account executive skills and competencies
Some of the fundamental skills and characteristics of account executives include:
- empathy: as an account executive, you should put yourself in the prospect's shoes to build good relationships. Empathy helps you understand your clients better and fosters strong relationships.
- negotiation skills: negotiating sales terms with clients requires exceptional negotiation skills to help you identify objections and find solutions for customers' concerns. You also ensure your client gets what they want while still landing the best deal for your company. Negotiation skills are also useful when renegotiating or adjusting contracts with long-term clients.
- communication skills: as an account executive, what you say and communicate seals the deal. Hence, talking and writing well is paramount since you communicate with prospective clients through phone calls and emails. Communication skills help you adapt your tone and pitch to each customer.
- problem-solving skills: you should be a top-notch problem solver, as you spend most days convincing clients, and sometimes they change their minds. Problem-solving skills help you solve issues that arise after signing a contract. Thinking on your feet is valuable for keeping clients happy and satisfied.
- organisation skills: as an account executive, your average work day is intense and involves diverse activities. With organisational skills, you can plan your workload and prioritise important tasks.
FAQs about working as an account executive
Here are the most asked questions about working as an account executive:
-
what does an account executive do?
As an account executive, you develop and maintain client relationships. You ensure your company products meet clients' needs and specifications. Sometimes, you also qualify leads and guide them through the buyer journey. You build relationships with clients and find upselling and cross-selling opportunities. You also renew contracts with clients and negotiate sale terms and discounts.
-
is account executive a good job?
Being an account executive can be a rewarding career if you enjoy interacting and negotiating with people. The earnings are promising, and some companies pay commissions and bonuses. You have many opportunities for career advancement, and the role has promising projected job growth across various sectors.
-
is an account executive the same as an account manager?
Account executives find new clients for the company and guide them through the buyer's journey until they sign a contract. They also build relationships with clients and help them renew contracts. An account manager doesn't look for new clients. Their job is to ensure client satisfaction after contracts are signed. They handle multiple client accounts, customer complaints and other arising issues.
-
do account executives earn a lot of money?
Account executives are part of the sales team. Hence, their salaries include commissions and bonuses for signing up new clients. The remuneration package also depends on the industry and location. In Australia, entry-level account executives take home $70,000 annually, while experienced workers earn over $90,000 yearly. Account executives working in metro areas make a lot of money due to a greater demand for their expertise.
-
what makes a good account executive?
A great account executive is easygoing and approachable. You need emotional intelligence and empathy to relate to clients. It is also important to have a personable tone while maintaining product knowledge and a focus on sales. Good communication skills help you answer prospects' questions clearly, while negotiation skills help you negotiate prices without being aggressive.
-
how do I apply for an account executive vacancy?
Applying for an account executive job is easy: create a Randstad profile and search our account executive job offers.
Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips here.
