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Business Development Manager Job Description, Roles, Skills, Salary 2023

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Nidhi

Updated 3+ months ago

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A Business Development Manager assists in planning marketing campaigns, increasing sales, attending meetings and conferences, and initiating new initiatives. The crucial role of the Business Development Manager is to inform others about company products and manage contact with clients. Besides this, they identify business opportunities for an organization. They also enhance the operations and manage a business executive team through leadership skills.

An undergraduate course in marketing, business, or related discipline helps to work as a business manager. Moreover, an MBA in Marketing or Sales and Marketing is helpful for the job. The basic knowledge of MS Office and CRM software helps to achieve this position.

How to become a Business Development Manager MBA in Sales and Marketing

Healthcare, telecommunication, manufacturing, and construction are the sectors that provide job opportunities for Business Development Managers. The organizations hiring for this position are Flipkart, IndusInd Bank, Axis Bank, TechMBS, VyomLabs, and Amazon. The average salary ranges between INR 4 to 12 LPA.

Who is a Business Development Manager?

  • A business development manager deals with various roles in a business.
  • They are employed in private firms and government sectors.
  • Various startups are increasing nowadays. Business development managers are hired for customer and supplier relationship-building positions.
  • An advanced degree in business management or related field is essential to become a business development manager.
  • The business development manager works with various department heads to complete the particular project work.
  • They adopt different methods and strategies within the team members.

What Does a Business Development Manager do?

  • Many duties are performed by business development managers based on each industry. Some of them have been discussed below.
  • Business development manager generates new revenue for the growth of the company.
  • They research the accounts regarding the target market helpful for the performance of a firm.
  • Business development managers are divided into numerous categories. Sales manager, business development executive, revenue manager, and zonal business manager are various positions. They can be in charge of the entire sector or a specific department.
  • Some business development managers work as freelancers. It helps to follow the changing trends of the market.
  • The Business development manager in a company attends various conferences and seminars for setting new plans.
  • They also guide the sales team and improvise the business methods.

Business Development Manager: Job Description

There are various roles and responsibilities that underlie a Business development manager. A crucial responsibility of the manager is to expand a network of contacts for the company's benefit. Some of the essential job tasks for manager development are described below.

Business Development Planning

Analyze the customer view about the organization for growth. A necessary plan is needed to raise the brand's production. Identification of sales and marketing efforts along with operation is the role of a business development manager. They advise clients with a definite plan.

Key networking/ Events

Several conferences and seminars led to the firm's expansion in society. It helps to increase the relationships with other companies. Moreover, vast opportunities are open for firms through client enterprises. So, they attend various events such as exhibitions.

Relationships with Clients

Customer engagement and being able to build and maintain relationships with clients for an investment in business is an important aspect of Business Development Manager. They provide reports to the management of customer satisfaction surveys. By collaborating with customers, they can enhance brand awareness and customer engagement. Moreover, they build a positive relationship by meeting with clients.

Training the Colleagues

A team is managed by a business development manager. They must conduct training for sales employees and business developers. Also, appropriately lead the team members.

Skills required for Business Development Manager

Some vital skills essential for the growth of a Business Development Manager. The following table shows the skills for Business Development Manager Career.

Analytical skills Research skills
Communication skills IT skills
Negotiation skills Organizational skills
Goal-focused Creative skills
Time management Flexibility

Top Business Development Manager Recruiters

The IT companies are hiring for Business Development Manager Jobs.

Cognizant Technology Solutions BYJU’S
Amazon Urban Company
Extramarks Tata Consultancy Services
Unacademy Deloitte
Flipkart TechMBS

Salary of a Business Development Manager in India

The salary range of a Business development manager varies from INR 4 to 12 Lacs. It is entirely based on the skills, sectors, and talent of an applicant.

Organization Wise Salary

Organization Name Average Salary (Annual)
Government INR 2 to 6 lacs
Private INR 2 to 6 lacs

Specialization Wise Salary

Job Role Annual Salary
Business Head INR 4 to 8 lacs
Business Development Executive INR 2.5 to 6 lacs
Sales Manager INR 4 to 8 lacs
Zonal Business Manager INR 2 to 6 lacs

Experience Wise Salary

Experience Annual Salary
Fresher INR 2 to 6 lacs
Experienced INR 4 to 12 lacs

Business Development Manager Job Description: FAQs

Ques. Which are the functions of a business development manager?

Ans. Researching accounts in target markets, planning, and setting goals are essential functions of a manager. Moreover, the complete growth of a firm depends on the business development manager.

Ques. Which industries open job opportunities for Business development managers?

Ans. E-commerce, financial services, healthcare, cybersecurity, and the software industry provide various job opportunities for business development managers.

Ques. What is the role of a business manager in an IT Company?

Ans. They generate sales and promotion of new products in the company. Also, a larger market share is achieved by them.

Ques. What will be the sales target of a business development manager in an IT company per month?

Ans. The target of a company depends on various factors. It includes workforce, time management, and client demand. Hence, it entirely exists with the performance of a manager.

Ques. Is there any scope for Business Development Manager in India?

Ans. Various sectors provide job opportunities for business development managers. The financial situation and revenue of a company rise by their work. There are openings provided due to the economic and social changes.

Ques. How to become a business development manager?

Ans. Graduate and post-graduate degrees in business administration and management help you to become a business development manager. Apart from these, a degree in economics or a related field assists this position.

Ques. Is travel essential for a business development manager?

Ans. The travel of the manager depends on the status of the job. In some cases, face-to-face meetings are for these managers. Hence, It is mandatory in that situation.

Ques. Are there any job opportunities for Business Development Manager abroad?

Ans. Most of the IT firms abroad are looking for business development executives and managers. The foreign countries contain vast tech companies. So, this role is required in almost all organizations.

Ques. What is the role of a global business development manager?

Ans. The preparation of business development strategies at a global level is the role of a business development manager. Planning of business operations deals with them.

Ques. What are the duties of a business development manager at Google?

Ans. Search, maps and YouTube are core products of Google. Industry analysis, partner management, and coordination works with business development managers.

Post Graduate Diploma in Management [PGDM] (Business Management) : 24 answered questions

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Ques. Which is better, IIT Roorkee MBA or XIMB BM?

● Top Answer By Sahil Metha on 24 Jun 24

Ans. I was in the same position as you last year. I too had the same options for my Master and I chose IIT Roorkee due to the following reasons:- The IIT brand that gets attached to you is an asset that shall forever remain worthy. IIT has fees of 8 Lakhs compared to fees of 21 Lakhs for XIMB. IIT Roorkee is ranked 18th in the NIRF ranking while XIMB is ranked 46th. IIT Roorkee has an Average Package of 18.34 LPA while XIMB is at 19.53 LPA . MBA started at IIT Roorkee in 1998 while XIMB was established in 1987. IIT Roorkee has better infrastructure and a bigger campus of 358.5 acres.Read more
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Ques. How are XLRI, XIMB, FMS, and NITR to pursue MBA (BM)? What about the placements?

● Top Answer By Palak Goyal on 01 Mar 24

Ans. Consider joining FMS if you don’t have an extraordinary academic background. It is a renowned business school with a really good ROI. Moreover, it only expects a good performance in CAT, and does not consider the past academic performance of the candidates.  Here are some other benefits of joining FMS for your management studies- It is located in the capital, and thus offers a good exposure. As a student of FMS, you’ll get to attend a number of seminars, workshops and events. It has two semesters per year, unlike other business schools that have three. This provides ample time to the students to participate in a number of corporate competitions on national and international level.  It is one of the oldest business schools, and it has a strong alumni network. All these facts make FMS a really good college for management studies.Read more
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Ques. How is XIMB BM in comparison with NMIMS HR?

● Top Answer By Akriti Gupta on 27 Sept 23

Ans. Pursuing a degree in HR from NMIMS would be a better option if it comes to educational excellence, ranking, infrastructure, campus life, hostels, or placement. If we draw a comparison between these two prestigious institutions then it would depend on various aspects. They are as follows: Ranking and reputation: NMIMS Mumbai, has ranked 21st among the best management institutes in India by NIRF 2023. This proves the academic excellence, infrastructural ability, placement success, and reputation all over India. Whereas according to the NIRF report 2023, XIMB ranked #46 among all the management schools in India. Accreditation: NMIMS Deemed-to university is accredited by NAAC with a 3.59 CGPA and Grade A+, whereas XIMB is accredited by NAAC with an "A" grade. Faculty & alumni: The professors are very good at teaching and most of them hold a PhD degree in their field of expertise. Nitin Rakesh (Chief Executive Officer and Managing Director, Mphasis), Gautam Shiknis (Founder and MD of Palador Pictures), and many more eminent professionals are notable alumni of this institution. Placement: Placement statistics for the year 2023 are mentioned in the tabulated form-  Particulars NMIMS Placement 2023 XIMB Placement 2023 Highest Package INR 67.80 LPA INR 71.51 LPA Average Salary INR 26.63 LPA INR 20.03 LPA Top Recruiters Aditya Birla Capital, American Express, Goldman Sachs, Crisil, etc. ICICI Bank, Accenture, Cognizant After considering all of these factors, it is clear that NMIMS is the best fit for pursuing an MBA degree in HR. The campus, programs, and opportunities available align perfectly with the goals of an MBA aspirant.Read more
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Ques. What would be a better choice between IIM Bangalore PGPBA and XLRI Jamshedpur BM, provided I have 3 years of work experience in analytics field?

● Top Answer By Pratik Parikh on 03 May 23

Ans. Both the PGPBA at IIM Bangalore and the BM at XLRI Jamshedpur are famous management programs known for their academic rigor, industry engagement, and alumni network. Here are a few things to think about when you make your decision: Programme Curriculum: The PGPBA program at IIM Bangalore focuses on business analytics and data-driven decision-making, whereas the BM program at XLRI Jamshedpur covers a wide range of management disciplines. If you want to specialize in analytics, the PGPBA program at IIM Bangalore may be a better fit. XLRI Jamshedpur BM may be a great alternative if you wish to broaden your management understanding. Placements: The median salary offered in XLRI BM is INR 30 lakh per annum. The average salary saw an increase to 32.& lakh per annum from INR 30.7 lakhs per annum in 2022. Highest domestic offer at INR 78.2 lakhs per annum from the ITES sector. While in IIM B, has a median salary of 31.2 in 2022. If analytical aspects are the concern, so I think IIMs have tailored courses and updated one too.Read more
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Ques. I have been shortlisted for DCP program in IMT G and MBA BM in XIMB? Which one would be better among the two?

● Top Answer By Bidita Ghose on 02 May 23

Ans. I would say that you should definitely choose XIMB. It's their primary program, and it will be much better than IMT G's DCP program. Just because of cost. The DCP program has fees that are over 22 lakhs and an average package of around 9 lakhs per annum. In contrast, the XIMB BM program has an average package of 13 lakhs per annum and fees of 15.40 lakhs for two years. Also, keep in mind that the DCP program is still new, so there won't be much support from the business.  I would have considered IMT G if it was a full-time program. If you can move up to IMT Ghaziabad and want to get an MBA with a focus on marketing and entrepreneurship courses, you should choose IMT Ghaziabad. But the DCP course fee isn't worth it for the same opportunity unless you want to work abroad, especially in Dubai.Read more
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Ques. What is it like to be a passout from XLRI, Jamshedpur with a degree in HR? Also, is HRM better than BM in XLRI?

● Top Answer By Indrani Chatterjee on 17 Apr 23

Ans. XLRI Jamshedpur is one of the top business schools in India, and its HR program is highly respected in the industry. Graduating from XLRI with an HR degree can open up many opportunities for you in the HR field, including roles in recruitment, training and development, employee relations, and more. The highest international package offered is Rs. 1.1 Crore for the HR domain, and an average package ranging from 19 to 30 LPA with a vast alumni base are the reasons which make the XLRI (HRM) the most sought-after management program in India. In terms of the difference between HRM and BM (Business Management) at XLRI, both programs have their unique advantages and career paths. HRM is focused on developing skills related to human resource management, while BM provides a broader business education covering different aspects of management. Ultimately, the choice between HRM and BM at XLRI depends on your personal interests and career goals. Both programs have excellent faculty and resources, and you can be confident in the education you receive at XLRI, no matter which program you choose.Read more
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Ques. Why should I take admission in XIMB BM?

● Top Answer By Sampriti Banerjee on 13 Apr 23

Ans. XIMB offers a highly reputable and well-regarded MBA program with a focus on business management. If you are considering XIMB BM, here are some compelling reasons why it may be an excellent choice for your academic and professional development: Excellent Faculty : XIMB BM has a highly experienced and accomplished faculty, many of whom have extensive industry experience and advanced academic qualifications. Strong Industry Partnerships : The institute has strong partnerships with leading businesses and organizations in India and abroad, which provide students with access to practical and industry-relevant learning opportunities, internships, and placements. Innovative Curriculum : The program has an innovative and dynamic curriculum, which integrates theory and practice to help students develop practical business skills and analytical thinking. Excellent Placements : XIMB has a strong track record of MBA placements, with many students securing jobs with top companies in India and around the world, with high salary packages. Extracurricular Activities : The institute offers a range of extracurricular activities and student clubs, which provide opportunities for students to develop their leadership, communication, and teamwork skills, and to engage with the community. Campus Facilities : XIMB has modern and well-equipped facilities, including a state-of-the-art library, computer labs, and a fully-equipped gym, among others. Vibrant Student Life : The institute has a vibrant and diverse student community, with students from all over India and other countries. The campus hosts a range of events and cultural festivals, which provide opportunities for students to network, engage in cultural activities, and build lifelong friendships. Overall, XIMB BM offers a highly rated and comprehensive MBA program, which provides students with a rigorous academic experience, practical business skills, and access to excellent career opportunities. If you are looking to pursue a career in business and management, XIMB BM may be an excellent choice for you.Read more
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Ques. How good is the XIMB-BM for someone with 5 years of work experience in Supply Chain Management?

● Top Answer By Sampriti Banerjee on 12 Apr 23

Ans. XIMB offers a two-year full-time residential program in Business Management (BM), which is a highly-ranked program in India. If you have 5 years of work experience in Supply Chain Management, XIMB-BM can be an excellent choice for you to pursue your postgraduate degree. XIMB-BM provides a comprehensive curriculum that covers various areas of management, including supply chain management, finance, marketing, human resources, operations, and information systems. The program at XIMB-BM offers students with hands-on experience, industry exposure, and managerial skills, which can help them to excel in their careers. The course structure includes classroom sessions, case studies, industry projects, and internships. The program also has tie-ups with various reputed companies, which provide students with the opportunity to work on live projects and gain practical experience. Additionally, XIMB-BM has a strong alumni network, which can provide you with opportunities for networking and career growth. The institute also offers excellent placement opportunities, with top companies recruiting students from the program. Overall, XIMB-BM can be an excellent choice for someone with 5 years of work experience in Supply Chain Management, as it provides a well-rounded management education, hands-on experience, and excellent placement opportunities.Read more
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Ques. Should I join BM in XIMB?

● Top Answer By Isha Parasramka on 13 Mar 23

Ans. XIMB is one the top B schools in India and MBA in Business Management is its flagship course. Whether you should join it or not is your call depending on your inclinations and preferences. However, my answer entails various reasons why one must consider XIMB. XIMB has a 31-year-long legacy which has resulted in its rich lineage, great faculty members, and an elaborate alumni base.  The institute is known for its research culture and development activities on a regular basis in collaboration with the government. XIMB is granted the South Asian Quality Assurance Systems (SAQS) accreditation by the Association of Management Development Institutions in South Asia (AMDISA) and the NBA Accreditation by the National Board of Accreditation for a period of 5 years for PGDM. Unlike most B Schools it offers an MBA degree rather than a PGDM Diploma. An MBA gives a holistic view of the program while a PGDM focuses on a specific specialization. XIMB also offers international exchange of students not only through the college but also through student-driven committees. The faculty at XIMB are experts in their respective fields and have immense industry experience which is reflected in their pedagogy. In the second year, you get an opportunity to do a double major, major plus minor in whichever fields (i.e. Marketing, Finance, operations, etc) we would like to gain knowledge and experience in. This gives us an opportunity to gain cross-functional knowledge and explore beyond our comfort zone, a quality required in the corporate world.  XIMB encourages extra-curricular/ co-curricular activities combining activities and academics which helps you to learn how to become a better manager and put your theoretical knowledge to the test.  Business seminars and talks hosted by industry leaders from every field are common in XIMB. These business talks help the students increase their practical knowledge with quality industry exposure.  XIMB holds a strong alumni base with alumni at top positions in various companies.  XIMB gives due importance to academics and learning through various projects, competitions, case studies, live projects, and faculty projects.  The students are constantly evaluated through quizzes and assignments to keep them on their toes. This helps them adjust to the hectic schedule they face in the corporate world.  Overall, the campus life at XIMB is unique and complete as it is a B-School that is forever awake.Read more
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Ques. Is joining XIMB BM a good decision? I am a fresher.

● Top Answer By Jagannath Kunthia on 13 Mar 23

Ans. XIMB is considered one of the Top B schools of the country. Its MBA in Business Management is its flagship course and is coveted by many. Eligibility criteria  Candidates must have completed a bachelor's degree of minimum 3 years duration with 50 % marks from any recognized University/Institute.   45 % marks in case of candidates belonging to reserved category. General Overview of the Program Particulars  Statistics  Duration Course Level 2 years Total Tuition Fees INR 18.30 Lakh Ranking Rank #7 by The Week 2020 Rank #11 by Business Today 2020 Rank #13 by Times 2021 Rank #34 by NIRF 2021 Top Ranked colleges in Bhubaneswar Top Ranked colleges in Orissa Type Of University  Private  Year of Establishment  1987 Exams Accepted CAT XAT X GMT Placement Percentage  100% Highest package  INR 32.1 LPA Average package  INR 17.5 LPA Median Package INR 14.5 LPA Recruiters ACCENTURE, CapGemini, Deloitte, HDFC Bank, HP, HSBC, ICICI, MU Sigma, Nestle If you are confident that you can convert Top 10 b schools like IIM ABCL, FMS, XLRI, SP JAIN next year then you can take the risk of dropping the year. But to stay on the safer side, going for XIMB is best.Read more
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