what is a business development manager?

A business development manager is a member of the sales team. You work with people inside and outside the organisation to create new business opportunities. Your job is finding new clients and building long-term relationships with the company's existing customers.

As part of the marketing team, you build sales leads, pitch to new prospects and develop a company's client list. Your goal is to guide potential customers through the sales funnel and sign them up. Since you are the company's public face, you always convey professionalism to potential clients. Making the right decisions and using the best strategies helps to achieve strategic goals.

Business development managers spend most of their time generating new business opportunities and ensuring the peak performance of sales staff. Hence, you need exceptional interpersonal and negotiation skills. Expertise in conducting research and identifying business trends contributes to sound decision-making and helps steer the company toward growth opportunities. Collaborating well with others, especially senior members of the sales and marketing teams, makes your job easier.

Most industries rely on business development managers to generate new opportunities and promote business growth. You could work in the construction, manufacturing or retail industries or for a consultancy firm.

Would working as a business development manager suit your negotiation skills? Then, read on to find out what competencies and qualifications you need to thrive in a business development manager role.

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average salary of a business development manager

According to Upgrad, the average business development manager annual salary in India is ₹5,97,373 including bonuses, shared profits, and commission.

Most employers offer commissions for bringing in clients or year-end bonuses to reward your contribution to business growth. Apart from salaries and commissions, your compensation includes various allowances to make it easier to do your job. For example, many companies offer a transport allowance and medical insurance. Companies also pay a pension contribution for their employees and provide paid holidays and sick leave.

how to increase your salary as a business development manager

The compensation package of a business development manager depends on your experience and level of expertise. When you have extensive experience working in the field, you are likely to earn more since you are an expert in closing deals and studying business trends. Your qualifications also influence your salary prospects. For example, a business development manager with a master's degree will likely earn a higher salary. Your location affects your wages, as urban areas have a higher demand for business development managers.  

business development manager jobs
business development manager jobs

types of business development managers

The types of business development managers vary depending on the industry they work for. Some common types of business development managers include:

  • construction business development managers: your job in construction is to find new building projects on behalf of your employer. Apart from identifying new prospects, you ensure the project meets clients' needs. You also develop relationships with all stakeholders in construction projects. 
  • cybersecurity business development managers: you study trends in cybersecurity and develop ways to improve computer systems' security. If your employer offers cybersecurity services, you identify prospective clients in various industries.
  • financial services business development managers: you monitor the performance and upcoming trends in financial services and help your employer stay ahead in the sector. You also find new ways to reach existing markets.

working as a business development manager

Working as a business development manager involves helping businesses develop long-term relationships with their clients and find new customers. Let's explore a business development manager’s duties and work schedule.


education and skills

Some of the educational requirements for becoming a business development manager include:

  • university and college courses: become a business development manager by completing a degree in a relevant subject like marketing, business management, international relations or business development. A bachelor’s degree in sales or marketing is a good step into the role, and you can enhance your career prospects by completing a master’s degree. Companies involved in IT-related, technical product or software service offerings look for professionals with expertise in computer science and related technologies.
  • work experience: most employers hire someone with a background in sales or marketing. Aim to acquire extensive work experience through internships or industry placements to build the skills required to excel in the role.

skills and competencies

The following skills will help you to excel as a business development manager:

  • communication skills: as a business development manager, you communicate with clients from diverse backgrounds and education levels. Your verbal and written communication skills help to improve rapport with clients and build better relationships.
  • time management skills: exceptional time management skills help you prioritise tasks and adjust your schedule as necessary.
  • technical and computer skills: computing skills enable you to operate customer relationship management (CRM) systems and content management platforms to track leads and follow up with clients.
  • personal drive: being goal-oriented and driven helps you to achieve your objectives in this role. When you have drive and self-motivation, you can push yourself to meet targets.

FAQs about working as a business development manager

FAQs about working as a business development manager:

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