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The differences between business development managers and executives 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 executive takes usually requires More than 10 years. Additionally, an executive has an average salary of $108,285, which is higher than the $100,769 average annual salary of a business development manager.
The top three skills for a business development manager include customer service, CRM and healthcare. The most important skills for an executive are customer service, digital transformation, and healthcare.
| Business Development Manager | Executive | |
| Yearly salary | $100,769 | $108,285 |
| Hourly rate | $48.45 | $52.06 |
| Growth rate | 10% | 6% |
| Number of jobs | 215,309 | 83,869 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 61% |
| Average age | 39 | 52 |
| Years of experience | 10 | - |
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.
An Executive's responsibilities vary depending on an organization or company. However, most of the time, it involves a great deal of leadership and communication. An Executive must oversee and direct employees towards particular sets of goals and vision, create strategies and plans that will benefit the company's financial gains and workforce, and as well as evaluate and analyze the progress of various company departments. Moreover, an Executive holds the power of decision-making, such as in the aspects of budget, promotions, and policies.
Business development managers and executives have different pay scales, as shown below.
| Business Development Manager | Executive | |
| Average salary | $100,769 | $108,285 |
| Salary range | Between $67,000 And $151,000 | Between $63,000 And $184,000 |
| Highest paying City | San Francisco, CA | Providence, RI |
| Highest paying state | California | Rhode Island |
| Best paying company | Shearman & Sterling | Capgemini |
| Best paying industry | Finance | - |
There are a few differences between a business development manager and an executive in terms of educational background:
| Business Development Manager | Executive | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between business development managers' and executives' demographics:
| Business Development Manager | Executive | |
| Average age | 39 | 52 |
| Gender ratio | Male, 68.6% Female, 31.4% | Male, 56.0% Female, 44.0% |
| 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, 3.7% Unknown, 3.9% Hispanic or Latino, 7.7% Asian, 7.6% White, 76.4% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 10% | 12% |