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The differences between business relationship managers and business development managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a business relationship manager, becoming a business development manager takes usually requires 8-10 years. Additionally, a business development manager has an average salary of $100,769, which is higher than the $87,741 average annual salary of a business relationship manager.
The top three skills for a business relationship manager include customer service, relationship management and cash management. The most important skills for a business development manager are customer service, CRM, and healthcare.
| Business Relationship Manager | Business Development Manager | |
| Yearly salary | $87,741 | $100,769 |
| Hourly rate | $42.18 | $48.45 |
| Growth rate | 17% | 10% |
| Number of jobs | 114,003 | 215,309 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 74% |
| Average age | 46 | 39 |
| Years of experience | 8 | 10 |
A business relationship manager is primarily responsible for improving the relationship between customers and businesses. Typically, it is their responsibility to develop strategies and business plans to strengthen client relationships, address issues and concerns, and perform corrective measures when necessary. There are instances when they have to reach out to clients through calls and correspondence, perform follow-up contacts to offer new services and opportunities, and provide industry advice or consultation. Furthermore, as a manager, it is essential to lead and encourage staff in the joint effort to reach target sales and improve client base.
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.
Business relationship managers and business development managers have different pay scales, as shown below.
| Business Relationship Manager | Business Development Manager | |
| Average salary | $87,741 | $100,769 |
| Salary range | Between $61,000 And $125,000 | Between $67,000 And $151,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New Jersey | California |
| Best paying company | AstraZeneca | Shearman & Sterling |
| Best paying industry | Technology | Finance |
There are a few differences between a business relationship manager and a business development manager in terms of educational background:
| Business Relationship Manager | Business Development Manager | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Georgia |
Here are the differences between business relationship managers' and business development managers' demographics:
| Business Relationship Manager | Business Development Manager | |
| Average age | 46 | 39 |
| Gender ratio | Male, 64.6% Female, 35.4% | Male, 68.6% Female, 31.4% |
| Race ratio | Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 63.9% American Indian and Alaska Native, 0.3% | 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% |
| LGBT Percentage | 11% | 10% |