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Territory manager vs business development manager

The differences between territory 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 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 $73,728 average annual salary of a territory manager.

The top three skills for a territory manager include customer service, patients and product knowledge. The most important skills for a business development manager are customer service, CRM, and healthcare.

Territory manager vs business development manager overview

Territory ManagerBusiness Development Manager
Yearly salary$73,728$100,769
Hourly rate$35.45$48.45
Growth rate5%10%
Number of jobs106,325215,309
Job satisfaction4-
Most common degreeBachelor's Degree, 78%Bachelor's Degree, 74%
Average age4639
Years of experience810

What does a territory manager do?

A territory manager is responsible for monitoring the sales operations of the different sales team of an organization. One of the most crucial duties of a territory manager is to encourage the sales team to provide the best results for increasing the company's profitability. Territory managers are conducting sales training, improving marketing strategies and approach, reviewing sales pitches, analyzing current market trends, and reaching sales goals. Territory managers must display exceptional leadership and customer service skills to manage customers' needs and identify more business opportunities.

What does a business development manager do?

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 manager vs business development manager salary

Territory managers and business development managers have different pay scales, as shown below.

Territory ManagerBusiness Development Manager
Average salary$73,728$100,769
Salary rangeBetween $46,000 And $117,000Between $67,000 And $151,000
Highest paying CitySeattle, WASan Francisco, CA
Highest paying stateAlaskaCalifornia
Best paying companyFUJIFILM Diosynth BiotechnologiesShearman & Sterling
Best paying industryPharmaceuticalFinance

Differences between territory manager and business development manager education

There are a few differences between a territory manager and a business development manager in terms of educational background:

Territory ManagerBusiness Development Manager
Most common degreeBachelor's Degree, 78%Bachelor's Degree, 74%
Most common majorBusinessBusiness
Most common collegeUniversity of Southern CaliforniaUniversity of Georgia

Territory manager vs business development manager demographics

Here are the differences between territory managers' and business development managers' demographics:

Territory ManagerBusiness Development Manager
Average age4639
Gender ratioMale, 71.3% Female, 28.7%Male, 68.6% Female, 31.4%
Race ratioBlack 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 Percentage7%10%

Differences between territory manager and business development manager duties and responsibilities

Territory manager example responsibilities.

  • Achieve MVP in Q3 2003 and Q1 through Q4 2004.
  • Manage promotional budgets focusing on high ROI events, thus increasing sales at lower promotional cost.
  • Manage all aspects of TM specification, sales, order management and delivery of customer's orders.
  • Generate leads through internet research, marketing, trade show participation, internal department cross-selling, and referrals.
  • Manage all aspects of SalesForce CRM integration and administration throughout the entire sales department
  • Achieve profitable relationships with current and prospective customers by providing exceptional customer support through attentiveness and extensive product knowledge.
  • Show more

Business development manager example responsibilities.

  • Manage Seo of websites and campaigns.
  • Manage the provisioning and implementation of the cloud solutions for different customers.
  • Lead worldwide development for high traffic facilities; markets include Americas, Europe, Asia-Pacific.
  • Manage the global support team and are responsible for cost reduction for the UK ready meals facility.
  • Assist in leading a team of BDM's to achieve revenue, attrition, and value add service goals.
  • Leverage in-depth knowledge of complex manage security solutions as well as extensive technical knowledge of security hardware and software.
  • Show more

Territory manager vs business development manager skills

Common territory manager skills
  • Customer Service, 13%
  • Patients, 8%
  • Product Knowledge, 7%
  • Work Ethic, 7%
  • CRM, 5%
  • Excellent Interpersonal, 4%
Common business development manager skills
  • Customer Service, 8%
  • CRM, 7%
  • Healthcare, 5%
  • Business Relationships, 4%
  • Customer Relationships, 3%
  • Project Management, 3%

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