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The differences between business development managers and account managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 8-10 years to become a business development manager, becoming an account manager takes usually requires 6-8 years. Additionally, a business development manager has an average salary of $100,769, which is higher than the $68,535 average annual salary of an account manager.
The top three skills for a business development manager include customer service, CRM and healthcare. The most important skills for an account manager are customer service, account management, and healthcare.
| Business Development Manager | Account Manager | |
| Yearly salary | $100,769 | $68,535 |
| Hourly rate | $48.45 | $32.95 |
| Growth rate | 10% | 5% |
| Number of jobs | 215,309 | 152,261 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 70% |
| Average age | 39 | 46 |
| Years of experience | 10 | 8 |
A business development manager's duties include identifying business opportunities, developing effective models and strategies to improve business performance, searching for potential clients to generate income and attract partnerships. A business development manager must have extensive knowledge of the market trends and adjust strategies as needed to meet the needs of the client. Excellent communication, decision-making, critical thinking, and leadership skills are just some of the key factors that business development managers should possess to communicate and negotiate with the clients.
Account managers are employees who act as the bridge between the company they represent and the client of the company. They are assigned to handle specific clients so that the company will be able to tailor-fit any product or service according to the clients' requirements. Account managers are responsible for maintaining a harmonious relationship between the two parties by ensuring that any agreement made is amenable to both the company and the client. They are also responsible for ensuring that the company will be able to provide the needs of the client within any limitation that the client may have. Account managers also ensure that the company's reputation and well-being are always considered in any dealings.
Business development managers and account managers have different pay scales, as shown below.
| Business Development Manager | Account Manager | |
| Average salary | $100,769 | $68,535 |
| Salary range | Between $67,000 And $151,000 | Between $42,000 And $110,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | Washington |
| Best paying company | Shearman & Sterling | NVIDIA |
| Best paying industry | Finance | Technology |
There are a few differences between a business development manager and an account manager in terms of educational background:
| Business Development Manager | Account Manager | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Southern California |
Here are the differences between business development managers' and account managers' demographics:
| Business Development Manager | Account Manager | |
| Average age | 39 | 46 |
| Gender ratio | Male, 68.6% Female, 31.4% | Male, 54.8% Female, 45.2% |
| Race ratio | Black or African American, 3.0% Unknown, 5.3% Hispanic or Latino, 8.7% Asian, 8.2% White, 74.6% American Indian and Alaska Native, 0.2% | Black or African American, 3.2% Unknown, 4.4% Hispanic or Latino, 9.8% Asian, 4.1% White, 78.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 7% |