New Business Development in the Financial Sector
The growth in the financial sector, stock trading and foreign exchange markets in the past 10 years, especially in the City of London has created a huge number of companies providing solutions to serve the IT and day-to-day operational activities of the Blue Chips, Major Banks, Investment houses and pension funds. Resulting in often huge, multi-million pound deals, Business Development personnel and sales staff delivering results who drive revenue and win contracts in this highly competitive industry are of huge importance. Business Development Executives, New Business Acquisition and Account Manager jobs will often include the task of managing solid client portfolios and would be responsible for covering the whole of the London area. In order to succeed they must be able to cover both the spot and forward delivery markets. They would be responsible for developing new corporate business alongside the management of existing won clients The day-to-day activities of Sales staff in this area includes pitching at board level to sell the creditability and reliability of systems and services. Ordinarily this results in spending 60 to 80% of the time in the field managing a sales cycle which can often last as long as 6 months. This requires not only patience but great skill to deliver results. In order to succeed, experience for these roles often includes 1 to 2 years experience in similar Sales Jobs and most would be educated to degree level. Presentation skills, confidence, drive and pro-activity are a must allied of course to a thorough understanding of the industry as a whole. In terms of salaries for such roles, successful candidates can expect to receive a basic salary of £20 to £40,000 with the upper ranges attainable by those with prior experience in the particular niche of the finance industry. OTE earnings are often un-capped which could reach £50 to £80,000.
About the Author: Justin Byrne is the Managing Director of Certus who are specialists in Sales Recruitment with offices in London, Reading and Leeds. They source candidates for a wide range of sectors including Financial sales jobs and New Business Acquisition.
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Print Article | Download PDF | 18 views | May 20 2008
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