Unlimited Access to Online Course Modules at a Click
Learn More
Career as Business Development Manager

Career as a Business Development Manager

About Business Development Manager

Business Development Manager is responsible for identifying new business opportunities for the organisation in order to improve profitability and generate revenue. Besides this, he is also responsible for establishing relationships with potential clients, researching leads and arranging meetings for sales executives. The main job of a Business Development Manager is to enhance the operations, reputation or position of the organisation in some way. 

Business Development Managers also look for new partnerships, new markets and new ways to promote in an exciting market. Candidates who are looking for a career as a Business Development Manager should have the ability to promote business and a hunger to chase new business. Besides this, he should have excellent leadership skills so that he can manage the team of Business Executives. 

Responsibilities of a Business Development Manager

Check some major responsibilities of a Business Development Manager provided below.

  • Building market positions by defining, developing, locating and closing business relationships.

  • Examining potentials and risks for business opportunities

  • Exploring new business opportunities

  • Attending meetings with clients and resolving their queries

  • Conducting research to identify customer needs and new market opportunities

  • Developing entry-level staff into valuable and skilled salespeople 

  • Keeping records of revenue, sales, invoices etc.

Eligibility to become Business Development Manager

Candidates who are aiming to become a Business Development Manager may check the eligibility criteria mentioned in the job description of the company. The eligibility criteria to become a Business Development Manager is provided below. 

Education Required

  • Bachelor’s degree in marketing, business or related field.

  • Basic knowledge of CRM software and MS Office

  • Some of the companies prefer candidates who have completed a master’s degree in management

  • Understanding of market and marketing strategies

Work Experience

Work experience of 1-2 years as Sales Executive or Business Development Manager

Certification

Certifications such as Project Management Professional (PMP) or Certified Business Analysis Professional (CBAP) may help candidates to understand business strategies

Skills

Some of the skills required for a Business Development Manager are listed below.

  • Strong communication skills

  • Good interpersonal skills

  • Problem-solving skills

  • Organisational skills

  • Creativity

  • Negotiation skills

Courses to become a Business Development Manager

You can check the table provided below that can help you to become a Business Development Manager. If you are looking for higher positions in business management then you can go for the master’s programs provided below. 

Course

Total Fee (Approx)

Top Colleges for Business Management

Bachelor of Business Administration

INR 27,000 to INR 8.00 lakh

Bachelor of Business Management

INR 45,000 to INR 3.00 lakh

Bachelor of Business Studies

INR 30,000 to INR 2.00 lakh

MBA in Business Management

INR 1.00 lakh to INR 2.60 lakh

PG Diploma in Business Management

INR 40,000 to INR 6.00 lakh

Masters of Business Administration

INR 15,000 to INR 25.00 lakh

You can apply to any of the business management colleges in India by filling our Common Application Form

Types of Job Roles Business Development Manager

Job roles of a Business Development Manager will vary from industry to industry. Some of the major job profiles available for a Business Development Manager are provided below.

If you are interested to know more job profiles and job opportunities available for Business Development Manager, you can ask your questions on the Collegedekho QnA zone

Employment Opportunities for Business Development Manager

Business development can apply to almost all types of companies, but you can prefer to specialize in a specific field. Some of the job opportunities available for Business Development Manager are in sectors such as healthcare, manufacturing, telecommunications and construction. Besides this, he may also work at companies that have different focus i.e B2C (business to consumer) or B2B (business to business). You can check the graph provided below to know the types of employers available for Business Development Managers. 

Employment Opportunities for Business Development Manager

Top Recruiting Agencies for Business Development Manager

Some of the major recruiting companies for a Business Development Manager are listed below.

  • IndusInd Bank

  • Lodha group

  • TechMBS

  • ICICI Lombard

  • Flipkart

  • Axis Bank

  • Muthoot Finance

  • Vyom Labs

Planning to choose Business Development Manager as your career?

Pay Scale/Salary of Business Development Manager

An experienced Business Development Manager can earn up to 6 lakh per annum. The average salary of a Business Development Manager is provided in the table below.

Profile

Starting Salary per annum (in INR)

Mid Level Salary per annum (in INR)

Senior Level Salary per annum (INR)

Business Development Manager

2,70,000

6,00,000

10,00,000

Salary of Business Development Manager

 

Books & Study Material to Become Business Development Manager

Provided below are some recommended books for Business Development Managers

  • Business Development by Sherran S. Spurlock

  • Primal Leadership by Daniel Goleman

  • Masters of Networking by Ivan Misner

  • The sales acceleration formula by Mark Roberge

  • Greatest Salesman in the World By Og Mandino

  • The Lean Startup By Eric Ries

Pros of becoming a Business Development Manager

  • This profile will help you learn new marketing strategies

  • Business Development Manager is one of the highest-paid profile in business management

  • You do not have to depend upon other teams to complete his work

  • Business Development Manager can apply for a job in any industry

Cons of becoming a Business Development Manager

  • You have to be updated with new business opportunities

  • You should be able to understand the changes in the market

  • You should have good communication skills and analytical skills in this profile

  • There is a high competition for this profile in the job market

Paths for Being Business Development Manager

FAQs about Business Development Manager

What are the pros of a career as a Business Development Manager?

There are many job opportunities available for a Business Development Manager. Besides this, the average salary of a Business Development Manager is also very high.

Who should apply for a Business Development Manager?

Candidates who have a good knowledge of marketing strategies and have a business mindset should apply for a Business Development Manager profile.

What are the top recruiters for Business Development Manager?

Some of the top recruiters for a Business Development Manager are TechMBS, ICICI Lombard, Flipkart, Axis Bank and Muthoot Finance.

Is work experience required for Business Development Manager?

Yes, you should have at least 1-2 years of experience in order to apply for a job as a Business Development Manager.

Where can a Business Development Manager apply?

Business Development Manager can apply to any industry such as healthcare, manufacturing, telecommunications and construction.

What is the role of Business Development Manager?

Business Development Manager identifies new business opportunities and maintains a good working relationship with new contacts.

What is the average salary of a Business Development Manager?

The average salary of a Business Development Manager will depend on his experience and skills. He can earn up to 5 lakh per annum if he has a working experience of 2-3 years.

What profiles are available for Business Development Manager?

Some of the major job profiles available for a Business Development Manager are Sales Manager, Regional Sales Manager, Revenue Manager and Zonal Business Manager.

What are the courses to become a Business Development Manager?

Some of the courses to become a Business Development Manager are Bachelor of Business Management, Bachelor of Business Administration and PG Diploma in Business Management.

What skills do I need to be a Business Development Manager?

Some of the skills required to be a Business Development Manager are good communication skills, analytics skills and leadership skills.

View More

Confused on what to choose as your career?

Top