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Salary of a Business Development Manager: Per Month, Starting Salary, Highest Salary

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Nidhi

Updated 3+ months ago

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A Business Development Manager is responsible for establishing objectives and creating plans to increase sales and revenue. Along with these, Business Development Managers are also in charge of developing, organizing, and carrying out fresh target market efforts. Their primary duty is to analyze the data, build strategies which will in turn lead to maximizing profit.There role also includes to maintain good and healthy relationship with clients. 

As per payscale, the average salary of a Business Development Manager is INR 6.06 LPA. There are several factors that play a very crucial role in determining the salary of a Business Development Manager such as experience, skills, location, company profile etc. An entry level candidate earns around INR 2.60 L - 4 LPA, while candidates with 2 - 5 years of experience makes 17% higher than the same. According to upGrad, skills like data analysis, project management etc offer 177% higher than the average salary. Some of the other skills that can be worked on in order to become a successful Business Development Manager include business intelligence, financial modeling etc.

In order to be a Business Development Manager, aspiring candidates can pursue various undergraduate or postgraduate Management courses and Marketing Courses etc from Top Management Colleges in India and Marketing Colleges. To get into these colleges, candidates need to first appear for the Management Entrance Exams such as CAT, MAT, XAT, SNAP, NPAT etc.

Average Salary of a Business Development Manager

According to payscale, the average salary of a Business development Manager in India is INR 6.06 LPA. The average monthly salary is around INR 47,000 - 52,200. Business Development Managers are also entitled to other monetary benefits such as bonuses, shared profits, commission, etc. The starting salary of a Fresh graduate is around INR 2.64 LPA which can go up to INR 20 LPA. 

A business development manager salary also depends on factors such as experience, skills, location and company. Amazon is among the top recruiters globally offering a salary package of INR 19.7 LPA. Read More: Salary of a Business Development Manager

Salary of a Business Development Manager: Company wise

The demand for a Business Development Manager is very high nowadays. Salary of a Business Development Manager primarily depends upon the profile of the company in which s/he is employed. 

Some of the top companies with their annual salary package are tabulated below for your reference. Read More: Sector Wise Salary of Business Development Managers

Name of the Company Average Annual Salary (INR)
HDFC Life 2.8 L
Indusind Bank 3.00 L
BYJU’s 10.4 L
SBI Life Insurance Company 4.10 L
Standard Chartered Bank 5.60 L
SBI General Insurance 3.10 L
Bajaj Allianz Life Insurance 4.20 L
Pristyn Care 4.80 L
OYO Rooms 8.70 L

Salary of a Business Development Manager: Job Profile Wise

Another important factor that determines the salary of a Business Development manager is the designation at which s/he is appointed. However, it might vary from company to company. Some of the top job profiles of Business Development Manager are tabulated below for your reference, 

Job Profile Average Annual Salary
Business Development Executive 4.20 L
Regional Sales Manager 6.10 L
Sales Manager 6.17 L
Revenue Manager 7.30 L
ZOnal Business Manager 6.23 L
Business Head 9.87 L

Salary of a Business Development Manager: Experience Wise

The most influential factor in determining the salary of a Business Development Manager is the experience. The more experience, more the salary will be. According to upgrad, an entry level business development manager earns 41% less than the median salary. 

Tabulated below is the salary of a Business Development Manager based on experience for your reference. 

Experience Average Annual Salary (INR)
0 - 5 years 3.42 L
6 - 10 years 5.66 L
11 - 15 years 8.13 L
16 - 20 years 12.43 L
20 years & above 15.00 L

Salary of a Business Development Manager: City Wise

There are some cities in India that offer higher salaries than the average salaries while some cities offer less than the average pay. Some of the highest paying cities include, Mumbai , New Delhi, Gurugram, Bangalore etc. 

Tabulated below is the salary of a Business Development Manager based on the location for your reference. 

Cities Average Annual Salary (INR)
Delhi 6.95 L
Pune 7.42 L
Bangalore 7.18 L
Mumbai 7.04 L
Chennai 7.08 L
Kolkata 4.15 L
Gurgaon 7.12 L

Salary of a Business Development Manager: Skill Wise

Skills are another most important influential factor while determining the salary. Skills enhance knowledge about the market and the job role which subsequently increases the pay. One of the most most important skills of business development manager is data analysis which according to upgrad, offers 201% higher salary than the average. Also Check: Skills Required to Become a Business Development Manager

Some of the essential skills are tabulated below with their salary package for your reference.

Skills Average Annual Salary (INR)
Data Analysis 6.25 L
Customer relationship Management 5.88 L
Business Strategy 7.11 L
Sales management 5.96 L
Account management 8.85 L
Client Interaction 5.96 L
Project management 6.43 L
Business Development 6.05 L

Salary of a Business Development Manager: Country Wise

Some of the top countries where Business Development Managers are appointed are mentioned below for your reference. Check: How to Become a Business Development Manager Abroad

Country Average Annual Salary (INR)
USA 76.93 L
UK 75.22 L
Australia 53.81 L
Canada 60.70 L
Germany 59.45 L
Japan 21.07 L
China 38.24 L

Skills Required to Become a Business Development Manager

Skills play a very important role in any profession. It will not only help to understand the job role better but also help in performing in an efficient and effective way. Tabulated below are some of the most important skills that must be inculcated by pursuing various relevant certification courses for your reference.

Business Management Consulting Management presentations
Contract Negotiations Knowledge of New Markets Excellent communication skills
Knowledge of microsoft office including microsoft excel Customer Relationship Management Stress Management

Top Recruiters of Business Development Managers

Different companies offer different pay and benefits to Business Development Managers. Amazon is among the recruiters offering a very high pay in the market to Business Development Managers. There are several top companies in India which are looking for fresh as well as experienced candidate are given below for your knowledge.

HDFC Life Amazon BYJU’s
Ceasefire Industries Standard Chartered Bank Tata Motors Finance
SBI General Insurance OYO Rooms Next Education India

Salary of a Business Development Manager: FAQs

Ques. What do Business Development Managers do?

Ans. A business development manager is one who is responsible for building sales leads, pitching products to the clients, building clients list for the company, analyzing data etc for the purpose of revenue generation. 

Ques. What are the options after completing a course in Business Development?

Ans. After completing a course in Business Development :

  • Sales executive
  • Marketing manager
  • Business executive
  • Revenue manager

Ques. What is the salary of a Business Development Manager after completing Undergraduate?

Ans. The average salary of a Business Development Manager after they have completed undergraduate program in management is around INR 2.50 L- 4.10 LPA, but the same is also dependent on the years of experience, company in which the candidate is working, etc.

Ques. What are the Skills required to be a Business Development Manager ?

Ans. The main skills required to be a successful Business Development Manager are:

  • Leadership
  • Organizational skills
  • Communication skills
  • Passion

Ques. What are the certificate courses required to be a Business Development Manager?

Ans. The certificate courses required to be a Business Development Manager are:

  • Certified Sales Professionals
  • Project management
  • Master Project manager

Ques. What is the highest salary of a Business Development Manager?

Ans. According to Glassdoor, the highest salary of a Business Development Manager is around INR 27 LPA

Ques. How many semesters are there in MBA?

Ans. There are a total of 4 semesters in the undergraduate course. The duration of the course is 2 years. 

Ques. What entrance should a Business Development Manager take?

Ans. The most common entrance exams for admission to become a Business Development Manager are CAT, MAT, XAT, etc

Ques. Is Business Development Manager a good career option? 

Ans. Yes, Business Development Manager is one of the highest paying careers, offers lucrative job opportunities and is full of creativity. It is one of the most fulfilling and rewarding careers. 

Ques. Is there a government opportunity for Business Development Managers in India?

Ans. No, Business Development Manager does not have many opportunities in Government Sector most of them are in Private sector.

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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