Salary structure needed with 60% variable pay component for Business Development Manager post

I am looking to appoint a new Business Development Manager with 5-6 years of experience. So, following are the queries:

1. As this is a fully marketing position, what could be the performance-oriented fixed and variable components of the structure?
2. Please share the ideal higher variable pay structure to help us.
3. Also, share the detailed job description with the appointment letter format.

Location: Bilaspur, India

Tags: salary structure, Country-India, consultancy appointment letter, new business, City-India-Bilaspur, business development manager, consultancy firms, human business partner, performance management, job description, business development

When designing a salary structure with a 60% variable pay component for a Business Development Manager role, it's important to align the components with performance metrics to drive motivation and productivity. Here's a practical approach to addressing the queries:

Performance-Oriented Salary Structure Components
- Fixed Component: Set a competitive fixed salary that ensures a base level of income stability for the Business Development Manager.
- Variable Component: Allocate 60% of the total compensation as the variable pay, which can be tied to key performance indicators (KPIs) such as revenue targets, client acquisition, and business growth metrics.

Ideal Higher Variable Pay Structure
- Consider structuring the variable pay to be directly linked to achieving specific, measurable goals that contribute to the company's overall growth and success.
- Implement a tiered system where different levels of performance attainment correspond to varying percentages of the variable pay.
- Ensure transparency in communicating the performance targets and how they impact the variable pay component.

Detailed Job Description & Appointment Letter
- Job Description: Outline the responsibilities, key performance indicators, reporting structure, and any specific requirements for the Business Development Manager role in Bilaspur, India.
- Appointment Letter Format: Include details such as start date, compensation structure (fixed and variable components), probation period (if applicable), benefits package, and any other pertinent terms and conditions.

By aligning the salary structure with performance-based incentives, you can motivate the Business Development Manager to excel in their role while contributing to the growth of the business.