Business Development Coordinator Salary
Business Development Coordinators in the United States take home an average $45K per year. Total cash compensation to Business Development Coordinators approaches anywhere from $32K on the lower end to $66K on the higher end; in exceptional cases, this can include more than $6K from bonuses and upwards of $4K from profit sharing. Career length and the particular city each impact pay for this group, with the former having the largest influence. Men are in the minority of survey respondents, with female Business Development Coordinators making up 74 percent. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Work is enjoyable for Business Development Coordinators, who typically claim high levels of job satisfaction. The figures in this rundown are based on the results of PayScale's salary questionnaire.
Job Description for Business Development Coordinator
Most of the time, business development coordinators work in an office full-time. Their jobs are to continuously generate new clients or new sales leads for their company and to maintain good relationships with existing clients.Read More...
Employers often require that business development coordinators have a bachelor’s degree in marketing, management, finance, or business. However, some companies may accept candidates with significant years of experience as business development coordinators in lieu of a bachelor's degree requirement. They must be proficient in Microsoft Office and their organizations' computer system.
Business development coordinators must be motivated. They must be comfortable in communicating with new or existing clients, via phone or email or in person. They must be dedicated, be able to meet deadlines, and be able to work independently. They must have an analytical aptitude to solve complex problems. They must be able to work well in a team environment. Business development coordinators must have excellent communication skills, both orally and in writing. They must be personable and must ensure excellent customer service. They must understand thoroughly the products and services that their company is selling. They must be comfortable in making presentation using various tools, such as PowerPoint slides. They may be required to travel to meet prospective or existing clients. They may have to train, coach, and mentor new or more junior business development coordinators. They may have to keep up to date with government rules and regulations relevant to their industry. They may have to attend conferences.
Business Development Coordinator Tasks
- Research, develop, and write cost estimates and proposals, including assumptions.
- Manage logistics of responses and pitches, including arranging meetings and coordinating with other departments.
- Follow up with potential clients and address their hesitations or concerns.
- Work with sales teams and clients to develop effective operational plans and bids.
Common Career Paths for Business Development Coordinator
Business Development Coordinators might see a strong upturn in salary after transitioning into upper-level roles such as Business Development Manager, a seemingly popular career choice. People currently working in the latter position report a noticeably higher median income of $78K per year.
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Popular Skills for Business Development Coordinator
Business Development Coordinators seem to exploit a large range of skills on the job. Most notably, skills in Event Planning, Proposal Writing, Project Management, and Market Research are correlated to pay that is above average. At the other end of the pay range are skills like Request For Proposal Creation, Sales, and Social Media Marketing. Most people familiar with Project Management also know Market Research. Those educated in Business Development tend to be well versed in Marketing Communications and Market Research.
Pay by Experience Level for Business Development Coordinator
Median of all compensation (including tips, bonus, and overtime) by years of experience.
More years of relevant experience do not necessarily translate to higher paychecks. Although individuals who have less than five years' experience earn $44K on average, people with five to 10 years benefit from a notably larger average of $53K. People with 10 to 20 years of experience make an average of about $61K in this role. Individuals who have achieved more than 20 years of experience don't seem to earn any more than people who have 10 to 20 years under their belts.
Pay Difference by Location
For those looking to make money, Business Development Coordinators in Boston enjoy an exceptional pay rate, 23 percent above the national average. Business Development Coordinators will also find cushy salaries in San Francisco (+19 percent), Orlando (+14 percent), Atlanta (+7 percent), and Miami (+7 percent). Denver is the lowest-paying area, 4 percent south of the national average. Below-median salaries also turn up in Richmond and Houston (3 percent lower and 1 percent lower, respectively).
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