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Business Development Executive – Job Roles and Responsibilities

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Jagpreet

22 May, 2024

Business Development Executive – Job Roles and Responsibilities

What is a Business Development Executive?

The full form of BDE is Business Development Executive. This job profile is one of the most popular ones you can grab after completing an MBA. With over 3-7 Lakh per annum income, the business development job profile is popular in the corporate world. If you are wondering what role and duties a Business Development Executive has, then we are here to tell you all about the job duties and responsibilities of a business development executive.

What Does A Business Development Executive Do?

What exactly does a Business Development Executive do? And what skills do you need to get the job? What are business development executive duties and responsibilities?

A Business Development Executive job profile has layers of roles and responsibilities. One of the most important ones involves identifying the best business opportunities to grow the company.

Secondly, as a Business Development Executive, you are responsible for connecting with any potential clients that can build the business upwards. Lastly, you must develop effective strategies to increase the company’s revenue.

Let’s find out more about business development executive duties and responsibilities:

  • Finding New Clients: You would be responsible for finding new clients through networking, cold calling, and other lead-generation methods. Your ideal goal would be to expand the company’s customer number, which would mean more leads and approaches.

  • Developing Business Strategies: One of the essential business development executive duties you would be doing is to analyse the current market trends and understand the customer needs to create business strategies to uplift the revenue.

  • Closing Sales Deals: Negotiating contracts and closing sale deals with new clients is an essential part of the BDE job profile. This requires clearly understanding what a client wants and ensuring that the company meets the expectations.

Educational Qualification Required to Become a BDE

  • Bachelor’s Degree: Most BDEs have a bachelor’s degree in business administration, marketing, finance, or a related field.

  • Advanced Degrees: While not always necessary, an MBA or a master’s degree in business-related fields can enhance your qualifications and open up more opportunities.

  • Certifications: You can go for these certifications to enhance your BDE skills: Certified Business Development Professional (CBDP), Project Management Professional (PMP), Certified Professional Sales Person (CPSP)

Key Duties & Responsibilities Of Business Development Executive

Now, that we have covered the basic duties of a Business Development Executive, let us take a look at what would be your key duties:

  • Actively Conducting Market Research

  • Using networks and online research, identify and qualify new sales leads.

  • Follow up on any sales leads, clearly providing pertinent facts.

  • Developing Sales Strategies

  • Become a product expert and be able to effectively present the company’s items to current and new customers.

  • Meet sales targets and KPIs on a weekly and monthly basis.

  • Attend conferences, meetings, and industry events on behalf of the company.

  • Managing Client Relationships

Essential Skills For Business Development Executives

To become successful in executive business development and fulfil the business development executive duties and responsibilities you would need a set of soft skills to ace the game.

Here are some of the soft skills you would need:

  • You should have strong communication skills to communicate clearly and deliver effective client messages.

  • You should have sharp problem-solving senses to understand business problems and find solutions quickly.

  • Networking and Relationship-Building: To become an excellent business development executive, you need to know how to create good relationships and network at your maximum. This would keep the client’s reviews great and provide more clients for business growth.

  • Have a knack for selling and recognising business opportunities.

  • Feel at ease in a goal-oriented environment and endeavour to overcome any obstacles that may prevent targets from being fulfilled.

  • Demonstrate effective time management and planning abilities.

Experience and Education Requirements

Education and experience are important in becoming the best Business Development Executive job profile. Here is what you need to become one:

  • A proven track record of achieving a higher number of sales.

  • Higher experience in sales and business development.

  • You should have an MBA in Marketing or a bachelor’s related to the field.

Also Read: Top 10 Online MBA Degree Colleges in India For BDE & BDM

Business Development Executive Salary

The salary for an Executive Business Development can vary based on experience, location, and company size. In India, the average salary for this role is approximately ₹3.8 LPA and the highest salary is ₹7 LPA. With performance-based incentives, you could earn even more.

Factors Affecting Salary

Many factors influence how much a Business Development Executive can earn. Here are some key considerations:

  • Experience Level: The more experience you have, the higher your potential salary. Senior executives with proven track records often command significantly higher salaries than those new to the field.

  • Geographic Location: Your location plays a role in determining your salary. Major cities offer higher wages due to a greater cost of living. For example, salaries in Bangalore or Mumbai are typically higher than in smaller cities or rural areas.

  • Company Size: Larger companies generally have more resources to pay their executives higher salaries and offer additional perks like stock options or generous bonuses.

Salary Range For Business Development Executives

Here is a closer look at what the real salary range is for Business Development Executives along with their experience level:

Experience Level Base Salary Range (₹)
Entry-Level 2,00,000 – 3,00,000 LPA
Mid-Level 3,00,000 – 5,00,000 LPA
Senior-Level 5,00,000 – 8,00,000 LPA

Also Read:  Business Development Manager: Everything You Need to Know

Additional Salary Perks

Aside from the base salary, many companies offer additional incentives to attract and retain talented Business Development Executives. These may include:

  • Performance Bonuses: Many companies reward high-performing executives with annual or quarterly bonuses based on individual and team performance.

  • Commission-Based Earnings: Some companies offer commission-based earnings, allowing you to earn more by achieving specific sales targets or closing significant deals.

  • Employee Benefits: Other common benefits might include health insurance, provident funds, travel allowances, and flexible work arrangements.

Business Development Executive Interview Questions

If you’re preparing for a Business Development Executive interview, consider these common questions that can help gauge your fit for the role:

  • How do you approach finding new business opportunities?

  • Can you describe a challenging sale you closed and how you achieved it?

  • What strategies do you use to maintain client relationships?

These questions are designed to assess your problem-solving skills and ability to build lasting relationships in a business development context.

Business Development Executive Overview: Key Information

Here’s a quick table to tell you the key information about business development executive roles and responsibilities:

Factors Description
Role Identify business opportunities, build client relationships, and create sales strategies.
Key Responsibilities Conducted market research, developed sales strategies, and managed client relationships.
Essential Skills Communication, problem-solving, networking, and relationship-building.
Experience Proven experience in sales, business development, or market research.
Salary ₹2,00,000 to ₹5,00,000 per annum, with an average of ₹3,08,000.

Conclusion

The key roles of a Business development executive include growing the number of clients and taking the initiative to increase sales and revenue. Business Development Executive duties and responsibilities include a multi-tasking job where strong communication, problem-solving and networking are the pyramids of this job profile. You would be required to find new business opportunities for the company actively. And that’s not it; the most fun part of becoming the Business Development Executive job profile is coming up with new marketing ideas.

The average salary package of a Business Development Executive is ₹3.8 per annum. Remember, that the salary package only goes higher and higher according to your experience, revenue and strategies. Welcome to the business world where networking and dreaming come together to create the best ideas and growth for a company. Take the first step towards becoming the next lead Business Development Executive through an MBA. Welcome the world of opportunities, skills and experience.


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