Business Development Manager: Role, Salary, and what you have to study to work in this new profession
The Business Development Manager is consolidated as the profession in charge of achieving the growth of companies within the current market. And it is that in an increasingly competitive environment, it is very necessary to have the presence of this figure. It will ensure the implementation of a strategy that will facilitate the expansion of companies, as well as the gain of a greater number of clients.
Although there is no university degree directly related to this profession, we can find a large number of courses that allow complete training. If you are interested in working as a Business Development Manager, keep reading. We tell you everything you need to know to be one of them.
What does a Business Development Manager do?
Within the business development process of a company, a figure of great importance has emerged in this area: the Business Development Manager. Also known as Director of Business Development, he is the person in charge of looking for opportunities for the expansion of the company within the market, both nationally and internationally. Likewise, you must direct the development strategy in order to achieve this.
His work is closely linked to the marketing department. In general, they tend to work together to achieve the objectives set by the latter. In addition, part of its work focuses on forging commercial relationships that benefit the growth of the business according to the guidelines set out in the strategy. It is considered as an intermediary between the client and the company, seeking to satisfy and meet the needs of both parties to create an agreement that benefits them.
In this way, their participation within the company is key to achieving optimal growth, ensuring their profitability within the market.
In general, the Business Development Manager is recognized as the professional in charge of seeking growth opportunities for a company. Companies from different commercial sectors seek the participation of this figure within their payroll, to ensure its evolution and permanence within the market. Among its functions we can highlight:
- In charge of implementing the commercial and marketing policy of the company according to the strategy established by it.
- You must carry out the negotiations, achieving the best conditions for the company, while meeting the client’s needs.
- Establish a sales pitch according to the marketing objectives of each product.
- Study and analyze the market to adapt growth strategies according to current demand and needs.
- Forge new business relationships and attract new customers.
Business Development Manager Role:
When hiring staff to fill the position of Business Development Manager, companies often indicate the profile they are looking for. In this way, they ensure that the objectives set for business development can be successfully met:
- It must be an analytical person and focused on the development and fulfillment of strategies.
- Capacity for teamwork.
- It is necessary to have good communication skills, standing out in dialogue.
- Management of different languages, English being essential.
- Show that you have the ability to multitask.
- Have excellent interpersonal relationship skills.
- Ability to negotiate easily and professionally, maintaining a cordial and satisfactory relationship for all parties.
Approximate Salary of a Business Development Manager
The Business Development Manager is a profession in high demand today. He stands out as a multi-functional professional, which has led him to achieve a very attractive salary. In this sense, those who start in this field can receive an annual salary of € 24,600 EUR.
This amount can increase according to the years of experience of the professional. A person with average experience can achieve an annual salary of € 43,800. In the case of a Senior, their salary per year is around € 58,900. While if it is a Business Development Manager with more than 20 years of experience, his annual salary amounts to an average of € 71,200. As we see, one of the professions with the best salary of 2021.
Business Development Manager: What do you study?
One of the professional bases requested to choose a position as Business Development Manager is to have a university degree related to business administration or management. However, it will still not be enough to fulfill the profile requested in a company.
It is recommended that those interested have postgraduate or master’s degrees in sales or marketing and the like. In addition, to improve the curriculum, it is best to train in courses and other studies that are directly related to Business Management and strategic direction. This makes it possible to acquire the skills and aptitudes necessary to fit the profile requested in the company.
Even so, the knowledge requested from candidates interested in the position of Business Development Manager is not limited to professions related to this field. It is also necessary to have an excellent level of English, especially at the conversational level.
In addition, they are required to have knowledge of office automation, especially Excel, and other management software that allow them to carry out their work within the company. Without a doubt, a very interesting profession in case you are looking for what to study or how to retrain at a professional level.