Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between 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 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 $63,492 average annual salary of a territory business manager.
The top three skills for a territory business manager include patients, TBM and product sales. The most important skills for a business development manager are customer service, CRM, and healthcare.
| Territory Business Manager | Business Development Manager | |
| Yearly salary | $63,492 | $100,769 |
| Hourly rate | $30.52 | $48.45 |
| Growth rate | 5% | 10% |
| Number of jobs | 143,395 | 215,309 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 74% |
| Average age | 46 | 39 |
| Years of experience | 8 | 10 |
A territory business manager is an executive professional who helps a company increase their sales revenues while maintaining customer relationships within an assigned geographical area. Territory business managers must lead the company's sales and business development by identifying new business opportunities and implementing strategies to increase sales. They are required to manage the assigned sales territory, including sales representatives, to maximize volume and revenue growth. Territory business managers must also exceed sales quota in all products every year and work with the matrix team to deliver sales goals.
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.
Territory business managers and business development managers have different pay scales, as shown below.
| Territory Business Manager | Business Development Manager | |
| Average salary | $63,492 | $100,769 |
| Salary range | Between $45,000 And $88,000 | 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 territory business manager and a business development manager in terms of educational background:
| Territory Business Manager | Business Development Manager | |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Southern California | University of Georgia |
Here are the differences between territory business managers' and business development managers' demographics:
| Territory Business Manager | Business Development Manager | |
| Average age | 46 | 39 |
| Gender ratio | Male, 56.2% Female, 43.8% | 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% |