Commercial Manager Job Description
Commercial managers coordinate commercial teams and collaborate with contract managers to resolve contractual and commercial issues. This involves contract negotiation, project planning, and risk management. Commercial managers are also great communicators and strategic thinkers who develop plans that coincide with business targets, and their main duty is to oversee expenses and revenue to create financial returns and business growth. This role can be very fast-paced and requires candidates who are self-motivated.
Commercial Manager Duties and Responsibilities
Commercial managers work for a variety of different organizations, which affects the exact duties they take on. Based on job listings we analyzed, a commercial manager’s duties typically involve:
Develop Relationships with Clients
Commercial managers build relationships with clients to establish new contracts. They also develop strong relationships with different departments within their company to ensure everyone is working toward the same targets and goals.
Create Plans for Business Growth
Developing strategic plans to encourage business growth is a regular duty of commercial managers. They use analytics to create action plans that are based off data and statistics, and interpret results against targets.
Develop Pricing Structures
Commercial managers develop risk assessments and pricing structures for products to work toward commercial efforts. Financial planning and budgeting is an important aspect of this job.
Oversee and Direct Contractors
Commercial managers are responsible for overseeing staff, suppliers, and contractors to ensure that deadlines are met. If issues arise with contractors, commercial managers work with them to resolve the problem as quickly as possible so as not to affect the schedule.
Commercial managers make sure stakeholders adhere to and understand contractual obligations, and also determine when processes violate regulations. They assess risks and make recommendations based on analysis of all factors affecting a business situation.
Commercial Manager Skills and Qualifications
Commercial managers are organized negotiators who are extremely motivated to hit targets and goals. Typically, employers require a bachelor’s degree in business, marketing, commerce, or a similar subject, as well as the following abilities:
- Commercial awareness – commercial managers should have a good understanding of the state of the current market in their industry. They should be constantly updating this knowledge, which includes keeping up to date with the latest contract laws and regulations
- Mathematics – commercial managers often deal with administrative financial tasks, such as overseeing revenue, so they need good math skills
- Interpersonal skills – an important aspect of this job is developing relationships with clients and external points of contact, so commercial managers need great communication skills
- Teamwork – commercial managers typically work as part of a team and collaborate closely with other departments, so it’s important that applicants for this role have the ability to work well with others
- Time management – meeting deadlines for projects and tasks is key in this job, so applicants must be organized and able to manage their time effectively
Commercial Manager Education and Training
The minimum requirement to become a commercial manager is a bachelor’s degree in business, marketing, or a subject related to commerce. Employers also expect candidates to have a good understanding of and experience with market research and negotiation. Applicants for this job must demonstrate talents for commercial awareness, client liaising, project management, and team leadership.
Commercial Manager Salary and Outlook
The median annual salary for commercial managers is over $84,000, according to PayScale. Commercial managers in the 10th percentile earn around $37,000 annually, while the highest paid earn around $143,000 a year. The higher end of this salary includes bonuses that can reach up to $26,000 and commissions that can exceed $45,000. A large majority of employers offer dental plans and medical insurance as part of their benefits package. The Bureau of Labor Statistics predicts that this sector will grow by 10 percent through 2026.
We’ve collected some of the best resources to help you learn how to develop a career as a commercial manager:
“8 Habits of Highly Successful Commercial Managers” – commercial managers take on a range of responsibilities and dip into a number of different roles, from sales and marketing to financial management. This blog highlights eight ways commercial managers can become more successful in their jobs
The Commercial Manager – a great reference for anyone in the commerce industry, this book covers a wide variety of topics, from contract negotiation and procurement to risk management
The Construction Commercial Management Network – nearly 20,000 people have joined this commercial management group for the construction sector, making it a great networking resource for those new to this role
Business Analytics for Managers – with businesses evolving all the time, it’s important to use data to make better decisions. This book helps readers make choices that add value and encourages data-driven thinking through data mining and statistics
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