A Business Development Manager is essentially important to expand the client base of the organization they will be heading. Apart from managing and presiding over the sales and revenue creating strategies for the organization, also it falls under the manager’s duties to have client meetings and negotiate prices. A lot of the financial, technical, and interpersonal responsibility with the clients and employees is hence crucial for this position.
Going by the weight of the responsibility, the salary range will live up to it.
The business development manager salary in the USA can range up to $71,575 to $80,000 annually, with other uncommon benefits like commission and profit-sharing, more of which shall be discussed right below. First, we need to get an idea of the job description and the qualifications required to be a Business Development Manager. Read on to know more about this highly-fought position.
Business Development Manager Job: What is it like?
While the salary and the job outlooks are highly intensive, the job description and requirement can be challenging. But do not let the heavy qualifications strewn all over the internet scare you, for we are here to break the work settings and the job skills for your smooth path to being a successful Business Development Manager.
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Aspirants who wish to be business managers must possess various skills. Business Manager job descriptions vary tremendously according to the specific company being hired. They may be headed to preside over the entire business transactions of an organization or head over a highly specialized field inside the office. Here are a few important responsibilities of a business manager:
- Ensure smooth running of company employees.
- Allocate efficient use of financial resources.
- Schedule and negotiate client pricing, oversee projects, and delegate employee jobs.
- Plan work schedules and hand out employee reviews.
- Be in simultaneous contact with employees as well as company supervisors.
The Work Setting
While the job description might sound overwhelming, business managers are required at almost all organizations. Hence, it is essential to walk through the industries that require a position fitted with one’s ability and skills, including software and hardware, cybersecurity, financial services, healthcare services, and e-commerce. Here are the tentative work settings a prospective business manager might encounter:
- Generally office-based and working indoors.
- Up to 40 hours a week of regular work.
- Might be required to attend travel meetings and other business meetings with clients.
- Generally interact with various people, including colleagues, clients, stakeholders, vendors, etc.
- Manage conflicts inside the workspace.
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The Skills Required
Business managers juggle multiple responsibilities, and thus, they must possess the necessary skills in handling the work environment efficiently. Here are some skills important for an aspiring business manager:
- Communication skills- business managers should communicate with clients and present their ideas commendably.
- Organizational skills- business managers must prioritize their work schedule and their clients’ and employees to facilitate a structured workforce.
- Technical skills- business managers must be adept in financial calculations and know basic computer skills like Excel, Word, PowerPoint, etc.
- (Optional) Professional skills- some business organizations might want their business development managers to have an in-depth understanding of any coding language like Java, Python, C++, etc., but only in specialized cases where it shall be mentioned in the job description.
What are the qualifications one requires in their resume for being a business manager? They are as follows:
- A Bachelors/Masters Degree in Business Administration (BBA/MBA) or a Sales related field.
- Professional Courses or PG Diploma in Marketing, Sales, IT, Business Communication, etc.
- A few years’ (two-three) work experience in related marketing/sales organizations.
Business Development Manager Salary Range
As mentioned earlier, the business development manager salary in the USA can touch almost $80,000 annually, with the range being $75,000 to $134,000. In addition, the job salary range also has other uncommon benefits like commission and profit-sharing, which may shoot up to $25,000 and $10,000, respectively. Such perks add up to a massive salary for this vital organizational leadership position.
The salary also depends on the type of organization the business manager works under and the size and scale of the company influence. Largely, clientele support and pricing also influence the salary range.
Other indirect benefits for a business development manager’s salary in the USA can include generous life insurance plans, health benefits, dental health plans, retirement bonus plans, paid vacations from the company, and other bonuses.
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People usually start as Assistant BDMs and slowly work their way upwards with hard work and zeal. Meanwhile, the work experience gained also grooms them for more important future managerial positions. In addition, assistant posts are open to aspirants with higher qualifications, and they can pursue more courses side by side with their current job to gain more expertise in the field to reach their goals faster.
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