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Job Survey: Service Manager

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Location: New York, NY
Company: Merrill Lynch
Experience: Mid-level
Highest Level of Education: Undergraduate Degree



Job Responsibilities
Operational - My product is implemented throughout the firm for different business units. When it goes down, I need it fixed. I don't need to go out there to physical fix it, or even call the people who do. There's an operations team at the firm who will handle that. My role was to establish the right procedures for that operations team to use when engaging a client to resolve issues. Financial - I manage a budget for the product. I spend on marketing, engineering research, project management of the implementation, all of which is done in-house. Regardless, I have to move budget from my cost center to the respective service's. Marketing/sales - I need to sell my product to the business clients. I hold conference calls, client forums for existing customers to get feedback and for them to spread the news about my product. Sometimes, they are refered to me by other service groups or they see my internal website. I then have to ensure that this technolog is a fit for them by engaging in a product engineer to answer the technical questions, while I can provide the answers to the financial questions.
Job Requirements
A technology background in my particular technology is not important. Being technical is not that important though it certainly helps. The main thing is being comfortable around clients. During the sales-y parts of the job, you do not need to know the answer to every question asked by the client, but you do need to have the people who can answer it present in your conference calls. That requires good people skills to pull already busy engineers, project managers, and operations manager together. Education of the servicce/product you sell will probably be done on your own. I started as an assistant service manager, helping out with reports and research. I then was an associate service manager, helping with client sales and presentations (along with the data analysis). I then got my own service/product to manage. I therefore owned the product from a sales, customer service and financial focus, with matrix oversight of the technology development and the day-2 operations.
Uppers
The skills are transferable to different industries as long as you can make a case for it. It's broad business skills, ranging from sales, marketing, finance, operations, technology. It's a people-oriented business and you can see results immediately.
Downers
As with client-focused jobs, you can get pulled in many directions since all clients think they are the most important and require your immediate attention. Because a service manager pulls the whole service/product together, he/she requires the expertise of all these engineers, project managers and operations folks. Getting their respect and their time is often hard.
Lifestyle
The lifestyle is good. 8-6 pm. No weekends. When a big project comes on, you're on call but you don't have to be on the hours-long conference calls as the implementation happens. But be ready to make quick decisions if something does go wrong. And be ready to explain to the client what went wrong and what the next steps are.
Compensation
Base salary was about $50K when I first started in 1999. The associate service manager brought around $60 and the full fledged service manager was around $80. This was after 4 raises. Bonus ranged from $10-13K per year (all pretax). Medical and dental benefits are available. You pay around $80 per month for both.
Advice to Jobseekers
Be proactive. Learn about the product. Find out about your potential clients and ask about their business so that you can find out how your product can fit into their business.

This Service Manager career survey is just one of 1000s of exclusive career surveys available on Vault. Find out what it's actually like on the job with Vault's job surveys.

Read all Vault Career Surveys for the inside scoop on specific jobs
Read Vault Employee Surveys for the inside scoop on specific employers
Read Vault Student/Alumni Surveys for the inside scoop on colleges and grad schools