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The differences between business managers and new business managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a business manager and a new business manager. Additionally, a new business manager has an average salary of $93,395, which is higher than the $83,198 average annual salary of a business manager.
The top three skills for a business manager include customer service, powerpoint and project management. The most important skills for a new business manager are customer service, business plan, and business development.
| Business Manager | New Business Manager | |
| Yearly salary | $83,198 | $93,395 |
| Hourly rate | $40.00 | $44.90 |
| Growth rate | 6% | 6% |
| Number of jobs | 377,191 | 282,416 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 67% |
| Average age | 44 | 44 |
| Years of experience | 6 | 6 |
A business manager is responsible for directing the overall operations of the company, ensuring that all employees do their tasks efficiently and accurately. Business managers' duties include developing strategic solutions, evaluating employees' performance, identifying business opportunities to grow, monitoring the company's expenses to meet its budget goals, implementing techniques to boost the company's revenue and profitability, and adhering to the company's legal policies and procedures. A business manager must have excellent leadership and interpersonal skills to supervise daily operations.
A new business manager is responsible for reaching out to existing and potential clients and identify new business opportunities that would generate more revenue resources for the company and increase profitability. Business managers supervise client portfolios and ensure long business relationships by maintaining the highest client satisfaction and efficient deliverables. They also analyze the financial status and sales performance of the company and determine techniques to minimize loss and increase productivity. A new business manager studies recent market trends to develop services that meet public demands and interests.
Business managers and new business managers have different pay scales, as shown below.
| Business Manager | New Business Manager | |
| Average salary | $83,198 | $93,395 |
| Salary range | Between $47,000 And $145,000 | Between $55,000 And $158,000 |
| Highest paying City | Seattle, WA | New Rochelle, NY |
| Highest paying state | Washington | New York |
| Best paying company | The Citadel | Apple |
| Best paying industry | Technology | Energy |
There are a few differences between a business manager and a new business manager in terms of educational background:
| Business Manager | New Business Manager | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business managers' and new business managers' demographics:
| Business Manager | New Business Manager | |
| Average age | 44 | 44 |
| Gender ratio | Male, 43.2% Female, 56.8% | Male, 60.1% Female, 39.9% |
| Race ratio | Black or African American, 6.2% Unknown, 4.3% Hispanic or Latino, 15.3% Asian, 6.4% White, 67.2% American Indian and Alaska Native, 0.5% | Black or African American, 6.2% Unknown, 4.3% Hispanic or Latino, 15.3% Asian, 6.4% White, 67.3% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 10% | 10% |