Business Development Associate Salary
Median pay for Business Development Associates in the United States is around $49K annually. Overall compensation packages to Business Development Associates range from $33K on the low end to $84K on the high end; this includes bonuses that peak near $17K and profit sharing that approaches $15K, with some high rollers snagging commissions as high as $25K. Compensation for this group is mainly affected by geographic location, but career duration and the specific company are influential factors as well. Women make up a slight majority of Business Development Associates (51 percent) survey respondents. Medical benefits are awarded to most, and a majority earn dental coverage. Job satisfaction is reported as high by the vast majority of workers. The information for this snapshot was generated by responses to the PayScale salary survey.
Job Description for Business Development Associate
Business development associates help increase growth and sales for their company. The field in which they work may vary, including everything from information technology (IT) to marketing to engineering. Much of the position is focused on developing strategies to build new client relationships while maintaining existing relationships.Read More...
Business development associates analyze the potential for growth opportunities within their business. They closely monitor and work with departments that would be impacted by the implementation of their strategy, including research and development (R&D), production, marketing, and sales. Based on their analysis, they develop a business plan, mapping how the company can increase net income. Some of the data produced and monitored by business development associates include reasons for gains and losses (with regard to clients), opportunities available to market and sell to a client, the top performers in sales, and the services and products that the company offers that specific clients may be seeking.
Business development associates monitor clients and identify opportunities for attracting, selling to, and retaining a relationship with that client. Based on these numbers and reports, the business may change or redirect their marketing and sales strategies.
Business development associates typically hold bachelor’s degrees (or higher) in business management, accounting, or a related field. They may also have experience in sales. Business development associates are expected to have some background with the strategic planning, sales, marketing, and finance. Many business development associates can work their way up to this position by starting in a sales or marketing position.
Business Development Associate Tasks
- Develop, execute and evaluate new plans for expanding increasing sales.
- Document all customer contact and information.
- Supervise implementation, advocate for the customer's needs, and communicate with client.
- Identify, prioritize, and reach out to new business categories, partners and opportunities.
Common Career Paths for Business Development Associate
As Business Development Associates transition into upper-level roles such as Business Development VP, they may see a strong upturn in salary. Business Development VPs earn $147K on average per year. Career advancement for the typical Business Development Associate often leads to becoming a Business Development Manager or a Business Development Director; median salaries in these positions are $28K higher and $63K higher, respectively.
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Popular Employer Salaries for Business Development Associate
Corporate Executive Board (CEB) offers the best pay with a median salary of $44K, though salaries there don't seem that varied, bottoming out near $39K and maxing out at just $56K.
Popular Skills for Business Development Associate
Business Development Associates report using a large range of skills on the job. Most notably, skills in Business Analysis, Data Analysis, Powerpoint, and New Business Development are correlated to pay that is above average, with boosts between 8 percent and 12 percent. Skills that pay less than market rate include Marketing Communications, Microsoft Word, and Microsoft Office. Those proficient in Business Development are, more often than not, also skilled in Sales and Market Research.
Pay by Experience Level for Business Development Associate
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience make $48K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $62K. After working for 10 to 20 years, Business Development Associates make a median salary of $60K. For some reason, Business Development Associates with more than two decades of experience report lower paychecks overall; the median sum in this group sits near $58K.
Pay Difference by Location
Home to some of the best pay for Business Development Associates, San Francisco offers exceptional salaries, 25 percent above the national average. Business Development Associates can also look forward to large paychecks in cities like San Diego (+21 percent), New York (+11 percent), Atlanta (+9 percent), and Houston (+4 percent). Dallas is home to the smallest salaries in the field, lagging the national average by 16 percent. Employers pay around 13 percent less in Arlington and 10 percent less in Philadelphia, below-median salaries for those in this field.
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