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New business manager hiring summary. Here are some key points about hiring new business managers in the United States:
Here's a step-by-step new business manager hiring guide:
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.
Before you post your new business manager job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a new business manager for hire on a part-time basis or as a contractor.
A new business manager's background is also an important factor in determining whether they'll be a good fit for the position. For example, new business managers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list shows salaries for various types of new business managers.
| Type of New Business Manager | Description | Hourly rate |
|---|---|---|
| New Business Manager | Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations. | $26-75 |
| Day Manager | A day manager oversees the daily operations of an organization, ensuring everything runs smoothly and efficiently according to company standards and regulations. As a day manager, it is their duty to set priorities and goals, establish timelines and guidelines, manage budgets, delegate responsibilities among teams, and supervise staff performances, solving issues or concerns when any arise... Show more | $14-30 |
| Manager | Managers are responsible for a specific department, function, or employee group. They oversee their assigned departments and all the employees under the department... Show more | $17-44 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $134,365 | $65 |
| 2 | New Jersey | $128,871 | $62 |
| 3 | Connecticut | $127,819 | $61 |
| 4 | California | $123,679 | $59 |
| 5 | District of Columbia | $116,586 | $56 |
| 6 | Massachusetts | $111,342 | $54 |
| 7 | Maryland | $99,262 | $48 |
| 8 | Washington | $95,638 | $46 |
| 9 | Michigan | $94,317 | $45 |
| 10 | Wisconsin | $92,825 | $45 |
| 11 | Colorado | $84,782 | $41 |
| 12 | Minnesota | $83,845 | $40 |
| 13 | Virginia | $83,224 | $40 |
| 14 | Pennsylvania | $80,857 | $39 |
| 15 | Missouri | $73,026 | $35 |
| 16 | Illinois | $72,453 | $35 |
| 17 | Utah | $71,558 | $34 |
| 18 | Indiana | $69,634 | $33 |
| 19 | Texas | $68,730 | $33 |
| 20 | Nebraska | $66,887 | $32 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Apple | $154,673 | $74.36 | 20 |
| 2 | DoorDash | $147,373 | $70.85 | 49 |
| 3 | Novartis | $142,981 | $68.74 | 9 |
| 4 | Poshmark | $139,381 | $67.01 | |
| 5 | Pwc | $138,489 | $66.58 | 1,368 |
| 6 | Airtable | $136,092 | $65.43 | |
| 7 | Citi | $130,631 | $62.80 | 21 |
| 8 | Square | $121,806 | $58.56 | |
| 9 | Macy's | $120,830 | $58.09 | 38 |
| 10 | Stryker | $120,791 | $58.07 | 16 |
| 11 | Sony Electronics | $120,315 | $57.84 | 5 |
| 12 | Morgan Stanley | $119,315 | $57.36 | 15 |
| 13 | JPMorgan Chase & Co. | $117,787 | $56.63 | 226 |
| 14 | Eversource Energy | $113,102 | $54.38 | 1 |
| 15 | IBM | $112,205 | $53.94 | 19 |
| 16 | PanAgora | $110,493 | $53.12 | |
| 17 | Burlington | $109,999 | $52.88 | 173 |
| 18 | Gap Inc. | $108,845 | $52.33 | |
| 19 | Astellas Pharma | $108,310 | $52.07 | 49 |
| 20 | HP | $106,852 | $51.37 | 4 |
A new business manager job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a new business manager job description:
There are various strategies that you can use to find the right new business manager for your business:
Your first interview with new business manager candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect new business manager candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
Once that's done, you can draft an onboarding schedule for the new new business manager. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
Hiring a new business manager comes with both the one-time cost per hire and ongoing costs. The cost of recruiting new business managers involves promoting the job and spending time conducting interviews. Ongoing costs include employee salary, training, benefits, insurance, and equipment. It is essential to consider the cost of new business manager recruiting as well the ongoing costs of maintaining the new employee.
You can expect to pay around $93,395 per year for a new business manager, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for new business managers in the US typically range between $26 and $75 an hour.