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The differences between new business managers and group 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 new business manager and a group manager. Additionally, a group manager has an average salary of $118,324, which is higher than the $93,395 average annual salary of a new business manager.
The top three skills for a new business manager include customer service, business plan and business development. The most important skills for a group manager are client facing, project management, and customer service.
| New Business Manager | Group Manager | |
| Yearly salary | $93,395 | $118,324 |
| Hourly rate | $44.90 | $56.89 |
| Growth rate | 6% | 6% |
| Number of jobs | 282,416 | 263,616 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Average age | 44 | 44 |
| Years of experience | 6 | 6 |
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.
Group Managers are employees who oversee a specific department, team, or any group in the company. They are usually tenured employees or industry experts. Group Managers oversee their team's performance and professional growth. They set clear, strategic goals for the team and create plans to reach these goals. They monitor the achievement of such goals and guide their team along the way. They also manage the team professionally. The coach team members train the employees if there are updates or new strategies and ensure that they remain engaged. They motivate their team to perform well and strive hard to reach group goals.
New business managers and group managers have different pay scales, as shown below.
| New Business Manager | Group Manager | |
| Average salary | $93,395 | $118,324 |
| Salary range | Between $55,000 And $158,000 | Between $78,000 And $178,000 |
| Highest paying City | New Rochelle, NY | Washington, DC |
| Highest paying state | New York | New York |
| Best paying company | Apple | |
| Best paying industry | Energy | Finance |
There are a few differences between a new business manager and a group manager in terms of educational background:
| New Business Manager | Group Manager | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between new business managers' and group managers' demographics:
| New Business Manager | Group Manager | |
| Average age | 44 | 44 |
| Gender ratio | Male, 60.1% Female, 39.9% | Male, 67.9% Female, 32.1% |
| Race ratio | 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% | Black or African American, 6.2% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 6.4% White, 67.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 10% | 10% |