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The differences between new business managers and store 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 store manager. Additionally, a new business manager has an average salary of $93,395, which is higher than the $46,950 average annual salary of a store manager.
The top three skills for a new business manager include customer service, business plan and business development. The most important skills for a store manager are store management, retail store, and customer service.
| New Business Manager | Store Manager | |
| Yearly salary | $93,395 | $46,950 |
| Hourly rate | $44.90 | $22.57 |
| Growth rate | 6% | 6% |
| Number of jobs | 282,416 | 446,127 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 48% |
| 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.
A store manager is responsible for monitoring the daily operations, making sure of its smooth and efficient performance with the best services provided to the customers. Store managers' duty also includes tracking the budget of the store to ensure that all expenses are meeting the sales goals. A store manager must also be able to plan and share strategies to boost sales performance and provide the needed support for the employees by communicating with them regularly, listening on suggestions, and taking necessary actions for complaints as required.
New business managers and store managers have different pay scales, as shown below.
| New Business Manager | Store Manager | |
| Average salary | $93,395 | $46,950 |
| Salary range | Between $55,000 And $158,000 | Between $30,000 And $73,000 |
| Highest paying City | New Rochelle, NY | Washington, DC |
| Highest paying state | New York | Delaware |
| Best paying company | Apple | Meta |
| Best paying industry | Energy | Manufacturing |
There are a few differences between a new business manager and a store manager in terms of educational background:
| New Business Manager | Store Manager | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 48% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between new business managers' and store managers' demographics:
| New Business Manager | Store Manager | |
| Average age | 44 | 44 |
| Gender ratio | Male, 60.1% Female, 39.9% | Male, 51.2% Female, 48.8% |
| 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, 6.1% Unknown, 4.3% Hispanic or Latino, 15.1% Asian, 6.3% White, 67.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 10% | 10% |