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Salary of a Business Development Manager: Per Month, Starting Salary, Highest Salary

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Nidhi

Updated 3+ months ago

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A Business Development Manager is responsible for establishing objectives and creating plans to increase sales and revenue. Along with these, Business Development Managers are also in charge of developing, organizing, and carrying out fresh target market efforts. Their primary duty is to analyze the data, build strategies which will in turn lead to maximizing profit.There role also includes to maintain good and healthy relationship with clients. 

As per payscale, the average salary of a Business Development Manager is INR 6.06 LPA. There are several factors that play a very crucial role in determining the salary of a Business Development Manager such as experience, skills, location, company profile etc. An entry level candidate earns around INR 2.60 L - 4 LPA, while candidates with 2 - 5 years of experience makes 17% higher than the same. According to upGrad, skills like data analysis, project management etc offer 177% higher than the average salary. Some of the other skills that can be worked on in order to become a successful Business Development Manager include business intelligence, financial modeling etc.

In order to be a Business Development Manager, aspiring candidates can pursue various undergraduate or postgraduate Management courses and Marketing Courses etc from Top Management Colleges in India and Marketing Colleges. To get into these colleges, candidates need to first appear for the Management Entrance Exams such as CAT, MAT, XAT, SNAP, NPAT etc.

Average Salary of a Business Development Manager

According to payscale, the average salary of a Business development Manager in India is INR 6.06 LPA. The average monthly salary is around INR 47,000 - 52,200. Business Development Managers are also entitled to other monetary benefits such as bonuses, shared profits, commission, etc. The starting salary of a Fresh graduate is around INR 2.64 LPA which can go up to INR 20 LPA. 

A business development manager salary also depends on factors such as experience, skills, location and company. Amazon is among the top recruiters globally offering a salary package of INR 19.7 LPA. Read More: Salary of a Business Development Manager

Salary of a Business Development Manager: Company wise

The demand for a Business Development Manager is very high nowadays. Salary of a Business Development Manager primarily depends upon the profile of the company in which s/he is employed. 

Some of the top companies with their annual salary package are tabulated below for your reference. Read More: Sector Wise Salary of Business Development Managers

Name of the Company Average Annual Salary (INR)
HDFC Life 2.8 L
Indusind Bank 3.00 L
BYJU’s 10.4 L
SBI Life Insurance Company 4.10 L
Standard Chartered Bank 5.60 L
SBI General Insurance 3.10 L
Bajaj Allianz Life Insurance 4.20 L
Pristyn Care 4.80 L
OYO Rooms 8.70 L

Salary of a Business Development Manager: Job Profile Wise

Another important factor that determines the salary of a Business Development manager is the designation at which s/he is appointed. However, it might vary from company to company. Some of the top job profiles of Business Development Manager are tabulated below for your reference, 

Job Profile Average Annual Salary
Business Development Executive 4.20 L
Regional Sales Manager 6.10 L
Sales Manager 6.17 L
Revenue Manager 7.30 L
ZOnal Business Manager 6.23 L
Business Head 9.87 L

Salary of a Business Development Manager: Experience Wise

The most influential factor in determining the salary of a Business Development Manager is the experience. The more experience, more the salary will be. According to upgrad, an entry level business development manager earns 41% less than the median salary. 

Tabulated below is the salary of a Business Development Manager based on experience for your reference. 

Experience Average Annual Salary (INR)
0 - 5 years 3.42 L
6 - 10 years 5.66 L
11 - 15 years 8.13 L
16 - 20 years 12.43 L
20 years & above 15.00 L

Salary of a Business Development Manager: City Wise

There are some cities in India that offer higher salaries than the average salaries while some cities offer less than the average pay. Some of the highest paying cities include, Mumbai , New Delhi, Gurugram, Bangalore etc. 

Tabulated below is the salary of a Business Development Manager based on the location for your reference. 

Cities Average Annual Salary (INR)
Delhi 6.95 L
Pune 7.42 L
Bangalore 7.18 L
Mumbai 7.04 L
Chennai 7.08 L
Kolkata 4.15 L
Gurgaon 7.12 L

Salary of a Business Development Manager: Skill Wise

Skills are another most important influential factor while determining the salary. Skills enhance knowledge about the market and the job role which subsequently increases the pay. One of the most most important skills of business development manager is data analysis which according to upgrad, offers 201% higher salary than the average. Also Check: Skills Required to Become a Business Development Manager

Some of the essential skills are tabulated below with their salary package for your reference.

Skills Average Annual Salary (INR)
Data Analysis 6.25 L
Customer relationship Management 5.88 L
Business Strategy 7.11 L
Sales management 5.96 L
Account management 8.85 L
Client Interaction 5.96 L
Project management 6.43 L
Business Development 6.05 L

Salary of a Business Development Manager: Country Wise

Some of the top countries where Business Development Managers are appointed are mentioned below for your reference. Check: How to Become a Business Development Manager Abroad

Country Average Annual Salary (INR)
USA 76.93 L
UK 75.22 L
Australia 53.81 L
Canada 60.70 L
Germany 59.45 L
Japan 21.07 L
China 38.24 L

Skills Required to Become a Business Development Manager

Skills play a very important role in any profession. It will not only help to understand the job role better but also help in performing in an efficient and effective way. Tabulated below are some of the most important skills that must be inculcated by pursuing various relevant certification courses for your reference.

Business Management Consulting Management presentations
Contract Negotiations Knowledge of New Markets Excellent communication skills
Knowledge of microsoft office including microsoft excel Customer Relationship Management Stress Management

Top Recruiters of Business Development Managers

Different companies offer different pay and benefits to Business Development Managers. Amazon is among the recruiters offering a very high pay in the market to Business Development Managers. There are several top companies in India which are looking for fresh as well as experienced candidate are given below for your knowledge.

HDFC Life Amazon BYJU’s
Ceasefire Industries Standard Chartered Bank Tata Motors Finance
SBI General Insurance OYO Rooms Next Education India

Salary of a Business Development Manager: FAQs

Ques. What do Business Development Managers do?

Ans. A business development manager is one who is responsible for building sales leads, pitching products to the clients, building clients list for the company, analyzing data etc for the purpose of revenue generation. 

Ques. What are the options after completing a course in Business Development?

Ans. After completing a course in Business Development :

  • Sales executive
  • Marketing manager
  • Business executive
  • Revenue manager

Ques. What is the salary of a Business Development Manager after completing Undergraduate?

Ans. The average salary of a Business Development Manager after they have completed undergraduate program in management is around INR 2.50 L- 4.10 LPA, but the same is also dependent on the years of experience, company in which the candidate is working, etc.

Ques. What are the Skills required to be a Business Development Manager ?

Ans. The main skills required to be a successful Business Development Manager are:

  • Leadership
  • Organizational skills
  • Communication skills
  • Passion

Ques. What are the certificate courses required to be a Business Development Manager?

Ans. The certificate courses required to be a Business Development Manager are:

  • Certified Sales Professionals
  • Project management
  • Master Project manager

Ques. What is the highest salary of a Business Development Manager?

Ans. According to Glassdoor, the highest salary of a Business Development Manager is around INR 27 LPA

Ques. How many semesters are there in MBA?

Ans. There are a total of 4 semesters in the undergraduate course. The duration of the course is 2 years. 

Ques. What entrance should a Business Development Manager take?

Ans. The most common entrance exams for admission to become a Business Development Manager are CAT, MAT, XAT, etc

Ques. Is Business Development Manager a good career option? 

Ans. Yes, Business Development Manager is one of the highest paying careers, offers lucrative job opportunities and is full of creativity. It is one of the most fulfilling and rewarding careers. 

Ques. Is there a government opportunity for Business Development Managers in India?

Ans. No, Business Development Manager does not have many opportunities in Government Sector most of them are in Private sector.

Post Graduate Diploma in Management [PGDM] (Business Management) : 24 answered questions

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Ques. Is XIMB BM really worth 20 lakhs (including hostel etc)?

● Top Answer By Arka Sengupta on 28 Jun 22

Ans. It depends on your expectation. As per the XIMB placement highlights the median CTC offered for MBA BM is around 15 LPA . PWC, Deloitte, GAIL, HSBC, Royal Bank of Scotland, etc. are some of the major recruiters to take part in the campus drive. In terms of academic rigor, student crowd, faculties, and alumni base, XIMB is a great B-School. It ranks in the same cluster as new IIMs, NMIMS, SCMHRD, SIBM Pune, etc. Read more
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Ques. What is it like to be a passout from XLRI, Jamshedpur with a degree in HR? Also, is HRM better than BM in XLRI?

● Top Answer By Indrani Chatterjee on 17 Apr 23

Ans. XLRI Jamshedpur is one of the top business schools in India, and its HR program is highly respected in the industry. Graduating from XLRI with an HR degree can open up many opportunities for you in the HR field, including roles in recruitment, training and development, employee relations, and more. The highest international package offered is Rs. 1.1 Crore for the HR domain, and an average package ranging from 19 to 30 LPA with a vast alumni base are the reasons which make the XLRI (HRM) the most sought-after management program in India. In terms of the difference between HRM and BM (Business Management) at XLRI, both programs have their unique advantages and career paths. HRM is focused on developing skills related to human resource management, while BM provides a broader business education covering different aspects of management. Ultimately, the choice between HRM and BM at XLRI depends on your personal interests and career goals. Both programs have excellent faculty and resources, and you can be confident in the education you receive at XLRI, no matter which program you choose.Read more
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Ques. How tough is it to get a seat into PGDBA, the course offered in collaboration with IIT Kharagpur, ISI Kolkata and IIM Calcutta?

● Top Answer By Hemant Rao on 07 Oct 21

Ans. My brother prepared for the Written Examination only in a week and scored close to 110 out of 150.  Since my brother had a background in Semi-automated Trading, the interviewers were convinced about his love of Finance and Maths. He got waitlisted in 5 of the General Category lists and declined admission after the results. If you are good at JEE Maths and have contributed to the field, it is important to show your passion to the interviewers. Read more
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Ques. Which course is better HRM or BM from XIMB?

● Top Answer By Ansuman Panda on 13 Mar 23

Ans. To begin with, let me tell you that XIMB offers MBA-BM whereas XAHR offers MBA-HRM. XAHR or Xaviers School of Human Resource Management was started after the immense success of the HRM program of XIMB. Now coming to your question, the program you choose will be an important factor in shaping your career so it should be based on your inclinations. Get a clear idea of the various arenas and specializations of Management and the required skills. Both the courses deal with very important elements of Management but HRM specifically deals with the primary asset of any company, The employees. BM offers an MBA in various fields like Finance Sales and Marketing Operations Consulting  General Management Each of these specializations have its own pros and cons. For instance, if you are into number crunching, operation management, and market mapping, then BM is a good choice for you. You can get further details of the course on the official website. Analyze what course and why attracts you the most and make an informed decision. So only you can decide which course to take as this is a subjective question based solely on your personal preference.Read more
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Ques. Which is better, IIT Roorkee MBA or XIMB BM?

● Top Answer By Sahil Metha on 24 Jun 24

Ans. I was in the same position as you last year. I too had the same options for my Master and I chose IIT Roorkee due to the following reasons:- The IIT brand that gets attached to you is an asset that shall forever remain worthy. IIT has fees of 8 Lakhs compared to fees of 21 Lakhs for XIMB. IIT Roorkee is ranked 18th in the NIRF ranking while XIMB is ranked 46th. IIT Roorkee has an Average Package of 18.34 LPA while XIMB is at 19.53 LPA . MBA started at IIT Roorkee in 1998 while XIMB was established in 1987. IIT Roorkee has better infrastructure and a bigger campus of 358.5 acres.Read more
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Ques. Which is best option, the executive program in sales and marketing at IIM Calcutta or the postgraduate certification in business management at XLRI, Jamshedpur?

● Top Answer By Shubham Bhoyar on 29 Nov 22

Ans. Only the full-time PGP courses of IIM Calcutta or XLRI are valuable. All other degrees/certificates are the only means of earning money by the institutes.  They have no real value in real life or the corporate world.  They won’t be very useful if you want to learn. They add no value to your CV You will not be considered alumni of the institute So these certificate courses/ part-time programs/ Executive programs carry no real value at all. Most people are misled to believe that they might add value to their CV. Read more
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Ques. How good is PGPBM course (provided by IIM Trichy) at Chennai Center?

● Top Answer By Azhar Jafri on 12 Jan 23

Ans. The worth of a certain program depends on what you want to achieve after completing it. In case you want to just ameliorate your knowledge and skills, this course is indeed the finest option. But if you are pursuing it to receive a high-paying package, then your approach is wrong. Yes, it will open doors for better job prospects but you cannot directly grab a high-paying job right off the bat. Some major highlights of this course are as follows The faculty is highly knowledgeable and usually comprises doctorates from top B Schools within India and even globally. The course is rigorous as each subject is taught for 25 hours and requires preparation for 20-25 hours. The pedagogy is premium and involves a blend of case studies, theories encompassing fundamental frameworks, and the latest trends. A regular evaluation ensures complete involvement of the individual You will get the chance to study with a mixed crowd comprising marketing professionals, chartered accountants, plant heads, and entrepreneurs. The crowd diversity in turn enables top-notch peer learning and exposure through experience sharing. Once you complete this program, you will excel in your current job or the interview for your next job. Since the program is approved by banks, you can easily get 100% educational loans. In accordance with the latest IIM Law, you will be granted an MBA Degree and not just a PGDBM Certificate. Before I end my answer I will ask you to keep 2 points in mind. Firstly, this program is extremely demanding and you should not take it just as a side hustle. It needs complete involvement and determination on your part. Secondly, no placement opportunities are offered upon completion of this program so you shouldn’t rely on the placement committee.Read more
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Ques. How good is the XIMB-BM for a fresher?

● Top Answer By Shweta Mishra on 04 Aug 22

Ans. XIMB BM is a good option for freshers. Almost half of the batch comprises freshers so, you won’t be at any disadvantage. XIMB offers good placement opportunities for both experienced professionals and freshers. During XIMB placements 2022 the average CTC offered was INR 17.54 LPA. As a fresher, you can expect to receive a CTC nearing the institute average.Read more
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Ques. Is joining XIMB BM a good decision? I am a fresher.

● Top Answer By Jagannath Kunthia on 13 Mar 23

Ans. XIMB is considered one of the Top B schools of the country. Its MBA in Business Management is its flagship course and is coveted by many. Eligibility criteria  Candidates must have completed a bachelor's degree of minimum 3 years duration with 50 % marks from any recognized University/Institute.   45 % marks in case of candidates belonging to reserved category. General Overview of the Program Particulars  Statistics  Duration Course Level 2 years Total Tuition Fees INR 18.30 Lakh Ranking Rank #7 by The Week 2020 Rank #11 by Business Today 2020 Rank #13 by Times 2021 Rank #34 by NIRF 2021 Top Ranked colleges in Bhubaneswar Top Ranked colleges in Orissa Type Of University  Private  Year of Establishment  1987 Exams Accepted CAT XAT X GMT Placement Percentage  100% Highest package  INR 32.1 LPA Average package  INR 17.5 LPA Median Package INR 14.5 LPA Recruiters ACCENTURE, CapGemini, Deloitte, HDFC Bank, HP, HSBC, ICICI, MU Sigma, Nestle If you are confident that you can convert Top 10 b schools like IIM ABCL, FMS, XLRI, SP JAIN next year then you can take the risk of dropping the year. But to stay on the safer side, going for XIMB is best.Read more
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Ques. Why should I take admission in XIMB BM?

● Top Answer By Sampriti Banerjee on 13 Apr 23

Ans. XIMB offers a highly reputable and well-regarded MBA program with a focus on business management. If you are considering XIMB BM, here are some compelling reasons why it may be an excellent choice for your academic and professional development: Excellent Faculty : XIMB BM has a highly experienced and accomplished faculty, many of whom have extensive industry experience and advanced academic qualifications. Strong Industry Partnerships : The institute has strong partnerships with leading businesses and organizations in India and abroad, which provide students with access to practical and industry-relevant learning opportunities, internships, and placements. Innovative Curriculum : The program has an innovative and dynamic curriculum, which integrates theory and practice to help students develop practical business skills and analytical thinking. Excellent Placements : XIMB has a strong track record of MBA placements, with many students securing jobs with top companies in India and around the world, with high salary packages. Extracurricular Activities : The institute offers a range of extracurricular activities and student clubs, which provide opportunities for students to develop their leadership, communication, and teamwork skills, and to engage with the community. Campus Facilities : XIMB has modern and well-equipped facilities, including a state-of-the-art library, computer labs, and a fully-equipped gym, among others. Vibrant Student Life : The institute has a vibrant and diverse student community, with students from all over India and other countries. The campus hosts a range of events and cultural festivals, which provide opportunities for students to network, engage in cultural activities, and build lifelong friendships. Overall, XIMB BM offers a highly rated and comprehensive MBA program, which provides students with a rigorous academic experience, practical business skills, and access to excellent career opportunities. If you are looking to pursue a career in business and management, XIMB BM may be an excellent choice for you.Read more
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