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The differences between revenue managers and business development managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 8-10 years to become both a revenue manager and a business development manager. Additionally, a business development manager has an average salary of $100,769, which is higher than the $86,270 average annual salary of a revenue manager.
The top three skills for a revenue manager include revenue cycle, reservations and customer service. The most important skills for a business development manager are customer service, CRM, and healthcare.
| Revenue Manager | Business Development Manager | |
| Yearly salary | $86,270 | $100,769 |
| Hourly rate | $41.48 | $48.45 |
| Growth rate | 10% | 10% |
| Number of jobs | 110,405 | 215,309 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 74% |
| Average age | 39 | 39 |
| Years of experience | 10 | 10 |
A revenue manager is responsible for conducting price analysis and revenue strategies to support business development and improve marketing techniques. Revenue managers research on the current market trends, evaluate statistical data of resources, maintain reasonable rates, and match the competitiveness of other hotel industries. They also work closely with the marketing and public relations team on releasing press releases, managing media appearance, and publishing content on the digital platform. A revenue manager must have excellent communication and organizational skills, tracking business and financial transactions, and coordinating with potential clients for partnerships.
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.
Revenue managers and business development managers have different pay scales, as shown below.
| Revenue Manager | Business Development Manager | |
| Average salary | $86,270 | $100,769 |
| Salary range | Between $59,000 And $124,000 | Between $67,000 And $151,000 |
| Highest paying City | Novato, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Meta | Shearman & Sterling |
| Best paying industry | Technology | Finance |
There are a few differences between a revenue manager and a business development manager in terms of educational background:
| Revenue Manager | Business Development Manager | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between revenue managers' and business development managers' demographics:
| Revenue Manager | Business Development Manager | |
| Average age | 39 | 39 |
| Gender ratio | Male, 41.6% Female, 58.4% | Male, 68.6% Female, 31.4% |
| Race ratio | 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% | 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 | 10% | 10% |