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Who is a Commercial Manager?
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A Commercial Manager is a professional responsible for operational and financial management of projects. He or she obtains new businesses for the employing organisation. A Commercial Manager is responsible for developing financial plans to maximise the business's profitability. He or she forecasts budget requirements for various durations such as short, long and medium terms. A Commercial Manager evaluates the commercial performance drivers and employs risk management frameworks and strategies for the organisation.
Commercial Managers are employed in a variety of industries such as transport, logistics, financial accounting and reporting and others. In this article, we will discuss is Commercial Manager a good career, what are the required Commercial Manager skills, Commercial Manager roles and responsibilities, what commercial manager career path, Commercial Manager salary in India, and how to become a Commercial Manager in India.
Commercial Manager in a Nutshell
A Commercial Manager negotiates, advises and secures information about pricing for commercial contracts. He or she is responsible for developing financial plans in order to maximise the business's profitability.
Quick Facts for Commercial Manager
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Industry
Finance, Manufacturing
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Average Salary in India
₹76066.5
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Suitable for
Male, Female, Others
A career as a Commercial Manager is suitable for everyone regardless of the candidate’s gender. Individuals’ gender does not cause any hindrance in career growth. To pursue the career, candidates must possess commercial manager skills and the required qualifications.
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Any special needs
Yes
A career as a Commercial Manager is suitable for individuals with special needs. It is a desk-based role that rarely involves travelling from one place to another.
Table of Contents for Commercial Manager
What is the role of Commercial Manager?
Are you thinking of what are the Commercial Manager roles and responsibilities or commercial manager job description then you are at the right place. We have mentioned your queries in this section. The role of Commercial Manager comes with a variety of responsibilities. A Commercial Manager is a professional responsible for budgeting and large-scale construction project costs. He or she sources services and resources required and negotiates costs with other suppliers.
The role of a Commercial Manager involves overseeing projects and monitoring plans in order to ensure deadlines are met. He or she also ensures projects are within budget and up to the standard. A Commercial Manager takes up the responsibility for financial management of projects. He or she recognises the business opportunities and puts the bids together to win new businesses. A Commercial Manager strategically expands, preserves and improves company procedures. He or she adheres to regulatory guidelines.
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Developing processes
The role of a Commercial Manager involves developing financial plans, budgeting and forecasting the short and long-term business opportunities concerning budget requirements.
Analysing
The Commercial Manager roles and responsibilities are to analyse business performance including its profitability, revenue, pricing and good sales. He or she plays a leading role in advising around pricing for commercial contracts.
Reviewing
The commercial manager job description involves reviewing the schedule and checking emails or voicemail for responding to time-sensitive messages from upper management, vendors or clients.
Research
A Commercial Manager job comes with the requirement of researching current market trends and competitor news to anticipate changes in consumer needs. He or she compiles reports for future products.
Quality Assurance
A Commercial Manager is responsible for meeting with potential vendors or suppliers at their manufacturing locations in order to determine the quality of certain materials to incorporate into company products.
Types of a Commercial Manager
Below we have given some of the types of Commercial Manager or Commercial Manager career options.
Financial Controller: A Financial Controller is a professional responsible for overseeing the day-to-day financial operations. His or her role involves running the accounting function. The role of the Financial Controller involves being responsible for a company's books and records.
Operations Manager: The role of Operations Manager involves managing all the activities involved in the production of goods and services of a business. It involves planning and strategising to ensure everyone completes their tasks on schedule.
COO: The COO is also known as the Chief Operating Officer. He or she is a senior executive tasked with administrative and operational functions of the business. He or she reports to the CEO (Chief Executive Officer).
What is the workplace/work environment of Commercial Manager like?
Commercial Managers work in an office environment. Their role involves budgeting, and sourcing services and resources as required. It is a senior position that comes with supervisory responsibilities. A Commercial Manager has to supervise the operations of the organisation and ensure it is as per the organisation’s standards. He or she is also responsible for ensuring deadlines are met for various departments. Organising skills and time management are crucial for the role.
Does Commercial Manager require travelling?
Likely
There are negligible travel requirements in a Commercial Manager career.
Employment Shifts
Full Time, Work From Home
A Commercial Manager works on a full-time basis. Work from home may occasionally be provided in this career.
Employment Nature
Contractual, Permanent
A Commercial Manager finds both types of employment opportunities on a contractual as well as a permanent basis.
Work Place
Office
A Commercial Manager works in an office environment. He or she is required to coordinate with other departments of the organisation.
Presence in Geographical Area
Semi-urban, Urban
A Commercial Manager finds flourishing employment opportunities in urban and semi-urban areas. Commercial Managers employed at Gurugram earn 28.4 per cent higher salary than the national average. Those employed in Mumbai earn 24 per cent higher salary than the national average.
Time Pressure
Likely
A Commercial Manager has to ensure that deadlines are met. He or she has to work under extreme time pressure.
Overtime Details
The role of a Commercial Manager often involves working extended hours to meet deadlines.
Weekly Hours of Work
Min 40 Hours
A Commercial Manager works a minimum of 40 hours per week. Commercial Manager work hours may vary from organisation to organisation.
How to become a Commercial Manager?
Steps to become a Commercial Manager
If you are someone who loves to handle and oversee revenue and expenses, budget, sourcing services and negotiating with suppliers in a construction company then a career as a Commercial Manager is the best option for you. If you are looking for the details on how to become a Commercial Manager in India then below we have discussed the steps for how to become a Commercial Manager in India.
What are the skills and qualities required to become a/an Commercial Manager?
We have provided here details of Commercial Manager skills. These skills are crucial to remain functional and efficient in a fast-paced work environment.
Communication: A Commercial Manager job involves spending the majority of work hours communicating with commercial managers. He or she has to communicate with project managers, vendors, contractors and business executives.
Project Management: The role of the Commercial Manager involves moving a project from its initial planning to final completion. He or she is required to manage multiple projects and oversee their finances and progress.
Leadership: The role of a Commercial Manager involves developing relationships, managing contractors and creating bids for new projects. He or she leads the team and guides them in selling the services of the organisation.
Problem Solving Skills: Problem Solving is a crucial skill for Commercial Managers. They are required to identify the problems and take necessary actions to resolve them or overcome them. At the same time, he or she has to consider the financial limitations for solving the problem.
Popular Online Finance Courses and Certifications
Which certifications and internships can be helpful in becoming Commercial Manager?
We have provided here a list of relevant Commercial Manager certification courses. Aspirants who want to pursue a full-time career may get themselves enrolled in any of these courses to upgrade their skills and functions.
Internship Availability
Aspirants who want to pursue a career as a Commercial Manager may locate Commercial internship opportunities. A Commercial intern is provided with several roles and responsibilities. He or she is required to gather data through interfacing and coordinating closely with the cross-functional teams. A Commercial Intern is required to develop processes. He or she may also be required to create reference documents for the account manager. The other tasks assigned to Commercial Manager interns include analysing and understanding the nuances within customer scorecards and creating internal processes for cross-functional teams.
Scroll and read to get more details about how to become a Commercial Manager in India.
Career Path Progression for Commercial Manager
Junior Commercial Manager: A Junior Commercial Manager is a professional who works under the guidance of a Senior Commercial Manager. A Junior Commercial Manager develops the commercial strategy and negotiates with customers, manufacturers and suppliers.
Senior Commercial Manager: A Senior Commercial Manager is an experienced professional who helps the junior Commercial Manager and trains the team. A Senior Commercial Manager is responsible for monitoring and overseeing the progress of the projects and the performance of the commercial team.
Commercial Manager Jobs and Salaries
Junior Commercial Manager
- Average Salary 53533
Job Description
The Junior Commercial Manager job description includes negotiating and agreeing on contracts and building strategic plans. A Junior Commercial Manager identifies the opportunities to grow the business and analyses the sales, marketing and finance reports.
Salary Description
The estimated Senior Commercial Manager salary in India ranges from Rs 3.5 Lakhs to Rs 9.3 Lakhs with an average annual salary of Rs 7.0 Lakhs per annum. The Senior Commercial Manager salary in India may vary depending on the various job factors.
Salary Source: AmbitionBox
Senior Commercial Manager
- Average Salary 98600
Job Description
The Senior Commercial Manager job description includes developing correct bids maintaining sustainable and productive relationships with existing clients and managing everyday operations. A Senior Commercial Manager trains the new employees and does production planning.
Salary Description
The estimated Senior Commercial Manager salary in India ranges from Rs 6.6 Lakhs to Rs 37.0 Lakhs with an average annual salary of Rs 15.0 Lakhs per annum. The Senior Commercial Manager salary in India may vary depending on the various job factors.
Salary Source: AmbitionBox
What is the job outlook for Commercial Manager?
Aspirants seeking opportunities to become a Commercial Manager need prior work experience in a managerial position. Sales and Marketing experience is also beneficial in acquiring a Commercial Manager. Candidates must have an in-depth knowledge of the business functions. It includes business development, financial management of projects and customer management. Prior experience in roles such as risk management, creating successful bids, overseeing projects from inception to completion and managing cross-functional teams as well as driving operational business metrics plays a crucial role in acquiring commercial manager roles.
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Frequently Asked Questions for Commercial Manager
Que. What is the average salary of a Commercial Manager?
Ans.The average salary of a Commercial Manager in India is Rs. 809826 per annum.
Que. What are the minimum required qualifications to become a Commercial Manager?
Ans.The minimum required qualification to become a Commercial Manager is the successful completion of an undergraduate programme in finance, business management or marketing.
Que. What is the average fee for an MBA in finance?
Ans.The average fee for an MBA in finance usually ranges from Rs. 10,000 to Rs. 20,00,000.
Que. What does a commercial manager do?
Ans.A commercial Manager is a professional who is responsible for building beneficial portfolios of the customers for a company. He or she oversees the contracts, sales and marketing strategies of the company.
Que. What industry is a commercial manager?
Ans.The commercial manager comes under the finance and manufacturing industry.
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