Business Development Director Salary
Business Development Directors in the United States see excellent average salaries — about $102K annually. With bonuses occasionally running north of $48K, profit sharing proceeds sometimes surpassing $29K, and a few commissions as high as $69K, total income for Business Development Directors can range between $59K and $190K according to individual performance. While years of experience and the specific company impact pay for this group, geographic location is the most influential factor. Medical benefits are awarded to most, and a strong majority earn dental coverage. Male Business Development Directors who responded to the survey are more common than women; more than half (64 percent) are men. Job satisfaction for Business Development Directors is high.
Job Description for Business Development Director
Business development directors can have a varied range of tasks pertaining to a company's overall business development. The responsibilities held are often higher up the corporate ladder than those of sales or operations managers, and therefore more intensive. Business development directors often answer directly to the owner of a company, board of directors, and/or to shareholders. Many of the tasks involved are mental in nature. Some include developing the necessary strategies for successful operations throughout the business. These can include fine tuning departmental tasks, aligning the IT department, figuring out how to market a company's goods or services to a wider market, negotiating with suppliers, understanding any legal matters that may arise in the course of business, managing sales, understanding the financial needs of the business, and coordinating all of these areas into cohesive action plans for the business as a whole. The job is usually done during the day and in an office environment. Some responsibilities can go into off hours and may be completed from home, but a majority will take place Monday through Friday. Typical work weeks for this position are at the forty hour mark and above. Many business development directors hold degrees in business administration. Many who have a business management degree in this kind of position it have concentrated their degrees in areas like accounting, macroeconomics, management theory, business law and/or information systems. A degree may not always be required, but it can be very helpful. Employers often chose applicants with master's degrees in business over applicants with bachelor's degrees.
Business Development Director Tasks
- Develop, coordinate, and implement sales and marketing plans to meet company growth objectives.
- Attend meetings with and give sales presentations to current and potential clients.
- Manage the sales process and establish relationships with clients.
- Research new clients and negotiate contracts.
Common Career Paths for Business Development Director
Business Development Directors sometimes assume positions such as Chief Executive Officers. That role pays $170K per year on average. The most common career progression for Business Development Directors leads to becoming a Business Development VP, where average pay is $147K annually. However, many Business Development Directors also opt to become Executive Directors. Typically, an Executive Director brings home $75K.
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Popular Skills for Business Development Director
Survey results imply that Business Development Directors deploy a substantial tool kit of skills at work. Most notably, skills in Strategic Sales, Contract Negotiation, Negotiation, and Strategic Planning are correlated to pay that is above average, with boosts in pay of 7 percent. Those listing Marketing Communications as a skill should be prepared for drastically lower pay. Marketing Management and Proposal Writing also typically command lower compensation. The majority of those who know New Business Development also know Customer Relationship Management (CRM), Contract Negotiation, and Account Management.
Pay by Experience Level for Business Development Director
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Business Development Directors who reported more years of relevant experience also reported higher earnings. In this occupation, salaries for the relatively untested average out to $80K, but folks in the five-to-10 year range enjoy a much heftier median of $104K. On average, Business Development Directors make $130K following one to two decades on the job. Business Development Directors who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $141K.
Pay Difference by Location
San Jose is home to an above-average pay rate for Business Development Directors, 44 percent higher than the national average. Business Development Directors can also look forward to large paychecks in cities like San Francisco (+34 percent), Houston (+32 percent), Boston (+26 percent), and Washington (+19 percent). Location significantly influences compensation, with Austin Business Development Directors earning much less — 25 percent less — than the national average.
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Key Stats for Business Development Director
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