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Business Development Manager Salary

For Business Development Managers, yearly average wages total $72K annually. Individual bonuses, profit sharing and commission for Business Development Managers — as high as $29K, $14K and $40K, respectively — each contribute to the degree of variation within overall compensation, ranging from $43K to $135K. The most important factor affecting compensation for this group is the company, followed by tenure and location. Male Business Development Managers are more prevalent than women among those who took the survey — 65 percent of professionals. Most Business Development Managers like their work and job satisfaction is high. Most report receiving medical coverage from their employers and a strong majority collect dental insurance.

$40,611 - $120,101
(Median)
$41K
$72K
$120K
MEDIAN: $72,418
10%
50%
90%

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$10.27 - $36.86
(Median)
$10
$18
$37
MEDIAN: $18.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$40,611 - $120,101  
   
Bonus
$487.31 - $29,361  
Profit Sharing
$504 - $14,094  
Commission
$0.00 - $40,496  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$42,752 - $135,381  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 6,485
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$25$50$75
Hourly Rate
$10.27 - $36.86  
   
Overtime
$11.63 - $41.06  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Bonus
$487.31 - $29,361  
   
Commission
$0.00 - $40,496  
Profit Sharing
$504 - $14,094  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$42,752 - $135,381  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 278

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Job Description for Business Development Manager

A business development manager plays many different roles related to helping a business grow. One main duty of a business development manager is achieving revenue goals. An individual in this position must actively identify and generate prospects using strategies geared towards customers in their target markets. Maintaining good working relationships with current clients is key as well. This helps to increase client retention and to promote new sales and connections through referrals and references. Along those same lines, a business development manager must also find and develop new and existing referral sources from which successful referential relationships can be gained. A typical day in the life of a business development manager may include meeting with different company teams and establishing goals and strategies, meeting with clients to discuss business relationships, developing proposals for new strategies, etc. Business development managers are hired in almost any and every type of industry.

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Business Development Manager Tasks

  • Identify and develop new and existing referral sources to develop successful referring relationships.
  • Actively identify and generate prospects through strategic sales strategies focusing on customers in target markets.
  • Achieve revenue goals.
  • Maintain good working relationships with existing clients previously to enhance client retention and new sales through referrals and references.

Common Career Paths for Business Development Manager


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Business Development Managers who go on to become Business Development VPs may see their salaries climb quite a bit. Median pay for Business Development VPs is $146K annually. With an annual salary of $112K, Business Development Director is the most common role for Business Development Managers to subsequently assume on their way up the ladder. Transitioning into a Marketing & Business Development Manager role — which usually pays $68K — is also typical for Business Development Managers, though less common by comparison.

Business Development Manager Job Listings

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Popular Employer Salaries for Business Development Manager


Well-known firms with a reputation for hiring numerous Business Development Managers include Cisco Systems Inc, Advantage Sales & Marketing, LLC, Baker Hughes Inc, Cognizant Technology Solutions Corp, and Hewlett-Packard Company. Business Development Managers seeking a sizable paycheck can earn the most at Lockheed Martin Corp, where the average salary comes to $141K. Hewlett-Packard Company, Cisco Systems Inc, and HCL America, Inc. are a few other companies that offer generous salaries, with Business Development Managers earning around $138K, $135K, or $115K at each firm, respectively.

Known for its small paychecks, Advantage Sales & Marketing, LLC actually ranks last in the field for salary, reporting a median income of $59K — less than half of the top paying company's rate. Workers at Office Depot, Inc., Cognizant Technology Solutions Corp, and Baker Hughes Inc also face smaller salaries than the rest of the field — average earnings for these employers come to $83K, $98K, and $100K respectively.

Popular Skills for Business Development Manager


Business Development Managers seem to wield many skills on the job. Most notably, skills in Strategic Sales, Strategic Planning, Strategic Marketing, and New Business Development are correlated to pay that is above average. At the other end of the pay range are skills like Customer Relationship Management, Sales, and Microsoft Word. Those educated in Customer Relationship Management tend to be well versed in Account Management and Strategic Planning.

Pay by Experience Level for Business Development Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience seems to be a major factor in determining the incomes of Business Development Managers. Relatively untried employees who have less than five years' experience make $61K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $83K. After working for 10 to 20 years, Business Development Managers make a median salary of $96K. More than 20 years of experience mean a somewhat bigger median paycheck of $105K, but it's not much more than what less experienced people make.

Pay Difference by Location


Surpassing the national average by 39 percent, Business Development Managers in San Jose receive some of the highest pay in the country. Business Development Managers can also look forward to large paychecks in cities like Houston (+25 percent), San Francisco (+19 percent), Boston (+9 percent), and Los Angeles (+8 percent). Miami is home to the smallest salaries in the field, lagging the national average by 10 percent.

Business Development Manager Reviews

What is it like working as a Business Development Manager?

Business Development Manager in Pittsburgh:
"Work flexibility, good office conditions, stress, sales."
Pros: I like the informal atmosphere and great colleagues. I like our member companies and the flexibility to meet new companies. I enjoy meeting new people in the region.
Cons: I do not enjoy the sales aspect. I do not enjoy sales goals and how part of my salary is dependent upon if companies want to join the council or not.

Related Job Salaries

United States (change)

Experience Affects Business Development Manager Salaries




National Average
$80,000


Skills That Affect Business Development Manager Salaries



Strategic Marketing
up arrow 3%

New Business Development
up arrow 1%

Powerpoint
0%

National Average
$80,000

Account Management
up arrow 1%

Project Management
up arrow 1%

Sales Management
up arrow 1%

Market Research
up arrow 3%

Account Sales
up arrow 4%




up arrow 8%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1232 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
2%
1-4 years
27%
5-9 years
28%
10-19 years
29%
20 years or more
14%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 74%
vision benefits Vision: 61% employee benefits None: 12%