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The differences between senior territory business managers and business development managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a senior territory business manager, becoming a business development manager takes usually requires 8-10 years. Additionally, a business development manager has an average salary of $100,769, which is higher than the $69,751 average annual salary of a senior territory business manager.
The top three skills for a senior territory business manager include neurologists, business development and oncology. The most important skills for a business development manager are customer service, CRM, and healthcare.
| Senior Territory Business Manager | Business Development Manager | |
| Yearly salary | $69,751 | $100,769 |
| Hourly rate | $33.53 | $48.45 |
| Growth rate | 5% | 10% |
| Number of jobs | 112,398 | 215,309 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 84% | Bachelor's Degree, 74% |
| Average age | 46 | 39 |
| Years of experience | 8 | 10 |
A senior territory business manager is responsible for overseeing the business functions and operations under the assigned district. Senior territory business managers strategize project management techniques to handle the company's key accounts efficiently. They also identify business opportunities by conducting data and statistical analysis to generate more revenue resources and increase profits for the business. A senior territory business manager coordinates with clients, negotiates contracts and agreements, and maintain healthy business relationships with business partners.
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.
Senior territory business managers and business development managers have different pay scales, as shown below.
| Senior Territory Business Manager | Business Development Manager | |
| Average salary | $69,751 | $100,769 |
| Salary range | Between $47,000 And $101,000 | Between $67,000 And $151,000 |
| Highest paying City | - | San Francisco, CA |
| Highest paying state | - | California |
| Best paying company | - | Shearman & Sterling |
| Best paying industry | - | Finance |
There are a few differences between a senior territory business manager and a business development manager in terms of educational background:
| Senior Territory Business Manager | Business Development Manager | |
| Most common degree | Bachelor's Degree, 84% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Southern California | University of Georgia |
Here are the differences between senior territory business managers' and business development managers' demographics:
| Senior Territory Business Manager | Business Development Manager | |
| Average age | 46 | 39 |
| Gender ratio | Male, 51.5% Female, 48.5% | Male, 68.6% Female, 31.4% |
| Race ratio | Black or African American, 3.2% Unknown, 4.4% Hispanic or Latino, 9.8% Asian, 4.1% White, 78.2% 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 | 7% | 10% |