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Career as Business Development Executive

Career as a Business Development Executive

About Business Development Executive

Business development executive is a person who is responsible for the growth of the business. The main job of the Business development executive is to find new targets and leads to promote the sales and services of the company or organization. He or she should be capable of finding new strategies to attract new costumers and boosting the business of the organization. Some of the major tasks of the Business development executive are Identifying and qualifying business opportunities, Understanding the needs of the customer and providing services as per his need or requirements, Collaborating with management on sales goals, Building strategies for increasing the sales of the company and Creating and maintaining a list/database of prospect clients. 

A good Business development executive must own some computers skills along with the managerial skills so that it can utilize them for the benefits of the organization. Apart from targeting new customers, he also analyses the needs of old clients and provides solutions to them. Companies are always hunting for skilled and qualified Business development executives to provide growth to their business. 

Eligibility to become Business Development Executive

Candidates should fulfil the minimum eligibility requirements decided below

Education: Candidates must have cleared a bachelor and master degree in business-related specialization. All companies have different eligibility criteria. Most of the companies prefer candidates with a master degree while due to their advanced skill set.  

Experience: Candidates applying for this profile must have 1-3 year work experience in a corporate company. Candidates with some experience would be given preference over those who are new to the industry. 

Skills: Since there is a large competition in the job market, having some additional skills is always an advantage. Companies hire candidates who possess some advanced skills so that they can match the standard of the market. Candidates who want to apply for a job as a Business development executive may check some of the skills provided below.

  • Good interpersonal skills
  • Good communication skills
  • Good business knowledge
  • Tact and diplomacy
  • Negotiation skills
  • Creativity
  • Organisational skills
  • Problem-solving skills

Types of Job Roles Business Development Executive

There are many job roles available for a Business Development Executive. Candidates may select any role that suits their interest and skills.

  • Area Sales Executive
  • Marketing Executive
  • Coordinator
  • Regional Sales Manager
  • Relationship Manager
  • Operational Manager
  • Business Analyst
  • Project Executive

Employment Opportunities for Business Development Executive

Companies from all the sectors hire Business development executive for business growth. Some of the major areas where a Business development executive may apply for a job are:

  • Pharmaceutical companies
  • Software companies
  • Consultancy companies
  • Telecommunications companies
  • Infrastructure companies
  • Product-related Industries
  • Marketing Companies

Top Recruiting Companies for Business Development Executive

Some of the major recruiting companies hiring Business Development Executives are

  • IndusInd Bank
  • Flipkart
  • Axis Bank
  • Lodha group
  • ICICI Lombard
  • Muthoot Finance
  • TechMBS
  • Vyom Labs
  • FCS Software
  • Ample Technologies

Planning to choose Business Development Executive as your career?

Pay Scale/Salary of Business Development Executive

Salary of the Business Development Executive will depend on the qualifications and experience of the candidate. Candidates may check the salary of the starting level, mid-level and senior-level Business development executive provided below. 

Profile

Starting Salary per annum (in INR)

Mid Level Salary per annum (in INR)

Senior Level Salary per annum (INR)

Business Development Executive

1,74,000

2,98,000

5,45,000

Books & Study Material to Become Business Development Executive

There are many books available in the market which can help the Business development executives to groom up their skills. Some of the recommendations are listed below

  • The sales acceleration formula by Mark Roberge
  • Masters of Networking by Ivan Misner
  • Export Now by Frank Lavin and Peter Cohan
  • Hacking sales by Max Altschuler
  • Predictable Prospecting by Marylou Tyler and Jeremy Donovan
  • Rejection Proof by Jia Jiang
  • How to Win Friends and Influence People by Dale Carnegie
  • Zero to One by Peter Thiel
  • Start with Why by Simon Sinek
  • Never eat alone by Keith Ferrazzi
  • Greatest Salesman in the World By Og Mandino
  • The Lean Startup By Eric Ries
  • Influence: The Psychology Of Persuasion By Robert Cialdini

Pros of becoming a Business Development Executive

  • Working timings of a Business Development Executive is flexible. They can work any time they want.
  • Business development executive can apply to any job area which provides them with an experience to work in a different culture
  • Salary of an experienced business development executive is high.
  • He enjoys full independence of work as he doesn’t have to report to any supervisor.

Cons of becoming a Business Development Executive

  • Limited or No job security. His work will totally depend upon the number of sales he is bringing to the organisation.
  • He has to work hard to bring new clients 
  • A Business development executive must keep him updated with modern technologies and skills to attract more and more clients towards the organisation
  • No team will be provided to the Business development executive. He has to work independently.

Paths for Being Business Development Executive

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