A Commercial Manager is a non-technical position that usually involves overseeing revenue and expenses that lead to positive returns on investment. Commercial Managers work on policies that affect these outcomes by following best practices and creating strategies that will help achieve them efficiently.
Roles and responsibilities
Commercial Managers usually have their hands full when it comes to their responsibilities. It is a high-pressure job that requires them to be constantly on their toes. There is, of course, a lot to learn on the job owing to the functions they are tasked with executing. Some of the responsibilities of a Commercial Manager include,
- Analyse business data and create strategies for growth
- Oversee multiple departments, staff, vendors, and teams to ensure the plans execute seamlessly and produce the desired outcomes
- Procure supplies that are required for commercial projects
- Negotiate deals with suppliers and carriers
- Maintain strong customer relationships that will help in the long-term growth of the organization
Commercial Managers often take up several other roles such as financial management, sales management, contacts, marketing, etc., making them a crucial part of the organizational ecosystem.
Skills required
The role of a Commercial Manager is the fusion of multiple job roles and responsibilities. Hence, aspirants should,
- Have impeccable communication skills as they will be coordinating with multiple teams, clients, and vendors
- Possess excellent interpersonal skills
- Be able to negotiate and close deals
- Have the ability to make high-impact decisions
- Understand the operational and managerial strategies of the organization
- Have strong sales and presentation skills
- Be a team-player and all-rounder
- Be able to handle multiple tasks at a time by prioritizing them
- Master the art of delegation and know which team/entity will get the job done within the stipulated time and budget
Educational qualifications
Commercial Managers are required to be highly qualified and have some sort of work experience in the field to be able to take up the responsibilities the role demands. The best option for such a prominent role is a Master of Business Administration or MBA. There aren’t many MBAs that specialize in Commercial Management. However, you could choose one that offers the course as part of its curriculum, such as an MBA in Hospitality Management. Of course, a Bachelor’s degree can also get you to the top, but the climb is a lot easier with an MBA.
Work experience also plays a major role in getting you that coveted Commercial Manager position. Ensure you take up a good number of internships in the field to stand out from the rest of your peers.
Salary
Commercial management is a role that requires quite a bit of experience to deserve a good salary package. On an average, a Commercial Manager can earn roughly around INR 7,00,000 per year. If you have about 5-10 years of experience, this amount can go up to INR 15,50,000 per year. The only downside to the role is that the salary range goes down if your experience nears the 20-year mark. Hence, it is always recommended you upskill and move on to higher roles as your experience matures.
Entry-level managers will find this role quite lucrative as it fetches upwards of around INR 2,50,000 per year. The top three cities to pursue a role as a Commercial Manager are Mumbai, Bangalore, and New Delhi, with Mumbai having a significant edge over the rest in India.
The curriculum of the MBA in Hospitality Management program from MBA ESG covers all the essentials required to kickstart your career in commercial management. The internships, workshops, and practical training will prepare you to tackle challenges in the industry from the get-go. This will, in turn, open multiple opportunities for you in hospitality and take your career to heights you’ve only imagined.
Salary info: PayScale
