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The differences between business unit 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 unit manager and a new business manager. Additionally, a business unit manager has an average salary of $122,782, which is higher than the $93,395 average annual salary of a new business manager.
The top three skills for a business unit manager include continuous improvement, customer service and product line. The most important skills for a new business manager are customer service, business plan, and business development.
| Business Unit Manager | New Business Manager | |
| Yearly salary | $122,782 | $93,395 |
| Hourly rate | $59.03 | $44.90 |
| Growth rate | 6% | 6% |
| Number of jobs | 295,151 | 282,416 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 67% |
| Average age | 44 | 44 |
| Years of experience | 6 | 6 |
A business unit manager handles a unit or segment of the company. This unit may be a specialized team on specific projects or a part of a significant production process. The business unit manager ensures that the unit works efficiently and productively by implementing strategies and techniques that will enhance the productive output. A business unit manager also provides suggestions, offers solutions to problems, handles tasks delegation, planning production processes, and training and monitoring of employees in a unit.
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 unit managers and new business managers have different pay scales, as shown below.
| Business Unit Manager | New Business Manager | |
| Average salary | $122,782 | $93,395 |
| Salary range | Between $81,000 And $184,000 | Between $55,000 And $158,000 |
| Highest paying City | East Providence, RI | New Rochelle, NY |
| Highest paying state | Rhode Island | New York |
| Best paying company | Citi | Apple |
| Best paying industry | Technology | Energy |
There are a few differences between a business unit manager and a new business manager in terms of educational background:
| Business Unit Manager | New Business Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business unit managers' and new business managers' demographics:
| Business Unit Manager | New Business Manager | |
| Average age | 44 | 44 |
| Gender ratio | Male, 82.8% Female, 17.2% | 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% |